Word: delayer
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Dates: during 2000-2009
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...Japan now realizes the mistake it made back then: failing to act with speed and force. Loose accounting standards had allowed banks to hold soured assets on their books without writing them down to their true market value. This permitted financial institutions that were technically bankrupt to delay taking in fresh capital - a move that would have hurt existing shareholders but would have restored banks to health. The government dawdled for more than half a decade, allowing banks to carry on in a diminished capacity despite the fact that with key lending institutions crippled, the broader economy could not thrive...
...Because these funds were terminated a few days before Congress passed the mega-bailout bill, Minnesota's independent-college association sent a letter to its Congressional delegates warning that without government help, some schools would be unable to fulfill their payroll responsibilities this week. "Any further delay by Congress or the administration," they wrote, "will have immediate devastating effects on these institutions and the families they serve." The American Council on Education sent a similar plea to every member of the House of Representatives...
...even though the bailout has been approved, the financial future remains murky, and some schools are already reporting cutbacks: Boston University has called for a hiring freeze, while Grinnell College in Grinnell, Iowa, plans to delay any further plans for new buildings or other capital projects...
...didn't do the bailout? The consequences are the same whether we do the bailout or not. The difference is who pays for it. We're having a contraction from deflation of an asset bubble that was overpriced. We're just going through that cycle. With the bailout, you delay it, make it bigger and put it on your children. It's essentially delaying pain. Without the bailout, this generation pays for it and we know what the bill is. That money's not coming back...
...Hensarling is the current chairman (and Pence a former chairman) of the Republican Study Committee, a 100-plus-member group of fiscal conservatives in the House who helped sink the bailout bill on Monday. Pence challenged Boehner in the battle two years ago to replace Tom DeLay as minority leader but now says he is no longer interested in a leadership position, a sentiment echoed by Hensarling...