Word: crunched
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...showed that nearly a fifth of work-force bound students in the Class of 2008 were going into business, finance and consulting without considering them ideal careers. A fifth of some of the brightest minds in the country are sulking, at this very moment, behind their desks as they crunch numbers in Manhattan. They could not be saved, President Faust. But at least the Class of 2009 could...
...sure, all lending hasn't been wiped off the face of the planet. Community banks, credit unions and firms that lend money against receivables are in many cases booming. Sterling National Bank, a regional player in the Northeast, has taken out newspaper advertisements asking "What Credit Crunch?" and highlighting loans it has recently made - a $5 million revolving line of credit to fund sales growth, $4 million worth of credit and lease-financing to buy IT systems and software...
...That illustrates an important point: the line between the problem's being a credit crunch and the problem's being an economic slowdown is blurring. In late September, BDO Seidman, an accounting and consulting firm, surveyed chief financial officers at 100 large retailers and found that 41% had experienced a tightening of credit by their lenders. That finding was set right next to another: that 37% of retailers planned to reduce inventory purchases for the rest of the year. Sounds like Jane Huelle's Dog Shop all over again...
...difficult to articulate what a credit crunch feels like. A recession, on the other hand, most people can explain...
...When Tanner talks about financial crises, he means not just the credit crunch on Wall Street but the massive deficits breaking the back of the federal government. For Blue Dogs, if there's a silver lining to the crisis that has shaken the financial markets, it's that it has highlighted problems they have been warning about for several years; their gripe is that the supposed solution now includes the same out-of-control pork barrel spending that they have been decrying. "The way I see it, the bailout forced us to go into the flooded basement and pump...