Word: crunchings
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Dates: during 2000-2009
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...Japanese experience of the 1990s. Indeed, New York Federal Reserve governor and vice chairman of the Federal Open Market Committee Timothy Geithner was Treasury attaché in the Tokyo embassy for the first half of that decade. That's when a widespread banking crisis led to a credit crunch, an economic slump and eventually interest rates that were lowered to zero by the Bank of Japan. Even so, Japan's banks, which were in the process of repairing their balance sheets, were extremely reluctant to lend. Thus, even though interest rates were low, the economy weakened. Prices for pretty much...
...gloom and doom, however. The United Arab Emirates, a federation that includes Dubai and six other states, has made $33 billion available to banks to calm the nerves of U.A.E. depositors and investors. And if the credit crunch shakes out property speculators and slows Dubai's growth to a more sustainable level, it should have the added benefit of taming inflation. "I am not necessarily thinking we are in a crash scenario," says EFG-Hermes managing director Hashem Montasser. "The economic situation is still very sound. [But] we will see a deceleration of prices, and it's probably a good...
...getting a really, really great compliment about a breakfast, and the comment went on and on and on, as only, I think, an articulate student could do. And then they said something, “But then again it’s hard to bleep bleep screw up Captain Crunch.”12. FM: What’s your favorite part about working in HUDS? TAM: I think probably the students. I enjoy keeping up. And you know, being at Harvard is always great as well. It’s a very intense, changing environment that always presents challenges...
Pittsburgh: Where the Crunch Could Come, 7:00 a.m. E.T. Both sides must think the Pittsburgh area is going to make a difference. Yesterday, John McCain greeted 1,500 at Pittsburgh International Airport, while Hillary Clinton stopped by a suburban Pittsburgh Obama office to encourage the troops. Bill Clinton, meanwhile, was campaigning with John Murtha up the road in Johnstown, trying to buck up the anti-war but veteran-friendly Democratic Congressman. Murtha's reelection once seemed inevitable, until he labeled his constituents "racists" and "rednecks" who would find it difficult if not impossible to vote for Obama. (See pictures...
ICELAND Drop in currency value since a year ago: 51% No developed country has suffered as much from the credit crunch as Iceland, which has seen its banking system and its currency, the kronur, all but collapse. The silver lining in an Arctic cloud: what was once one of the most expensive, if memorable, destinations in Europe has suddenly gone budget. Icelandair flights from New York City start at $500 round-trip, and decent hotels in the hip capital of Reykjavik - like the Centerhotel Thingholt - are as low as $60 a night. Sure, if you go in the late fall...