Word: departmentalized
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Dates: during 2000-2009
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Better to break hearts locally than shatter the greater economy - and that's what the collapse of GM and Chrysler threatens to do, according to the White House auto task force that is undertaking the monumental rescue mission. In the deal being cobbled, GM's stockholders will be wiped out...
A few Chrysler bondholders tried to resist but were overwhelmed by the megabanks that held most of the secured debt. Having taken billions in bank bailout money, they were in no position to irritate the Treasury Department. GM's debt is more widely dispersed, however, which makes it harder to...
Participants said talks were tense and frustrating. While Germany was represented by Merkel and two key ministers, Washington sent a midlevel Treasury official who was unable to make any definitive decisions. Several times during the meeting, the U.S. negotiator broke off talks to consult with his superiors by telephone back...
In truth, Gates has been bulletproof ever since George W. Bush lured him from Texas A&M University to replace the disastrous Donald Rumsfeld as Secretary of Defense. His mission, Gates said, was "to put Iraq in a better place," which is a spectacular understatement. Iraq was falling apart in...
If Pyongyang has, in the past, made a habit of annoying China, its only ostensible ally in the world, what must Beijing be thinking now? For most of the past six years, Beijing has been the host and chief promoter of the so-called six-party talks. Their explicit goal...