Word: crunch
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...tugging on the economic levers himself - levers that are, thanks to outgoing Secretary Hank Paulson, far more powerful than they had been. Colleagues say Geithner privately acknowledges that the U.S. economy is still sinking fast and the root cause of the problem - the housing bust and ensuing credit crunch - is still very much with the nation. Critics will ask at his confirmation hearing how the incoming Administration plans to prevent things from getting even worse. His personal finances may be called into question, in light of the revelation that he initially failed to pay part of his taxes while working...
...Simplified Bacon Chocolate Crunch Bar Recipe courtesy of chefs Jon Shook and Vinny Dotolo of Los Angeles' Animal...
...government is also hatching new plans to support small businesses, many of which are family-owned, have little access to capital markets and are getting squeezed by the credit crunch. Ronald Pofalla, the general secretary of Merkel's Christian Democratic Union (CDU), says, "We think that now is the right time to consider creating a Germany Fund, especially to help midsize industry in this difficult period and ensure optimal availability of financing...
...flavored birthday cake tends to make kids cry. But suddenly menus everywhere have deemed bacon an acceptable crossover. The landmark Brown Hotel in Louisville, Ky., does a bacon baklava. More, a cupcake shop in Chicago, sells three bacon flavors. Animal in Los Angeles serves a deeply satisfying bacon chocolate crunch bar. At New York City's Dovetail, the bread pudding with bacon brittle is so popular it can't be rotated off the menu...
California's extremely high home-foreclosure rate and a global recession (approximately 1 in 4 jobs in the state has international-trade ties), and the deficit quickly adds up. In the past, the state would borrow or sell bonds to bridge the gap, but with the current credit crunch, few investors are willing to offer assistance...