Word: disasterous
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The housing crash and resulting credit crunch are already forcing U.S. households to retrench. Government--fearing disaster if everybody retrenches at the same time--has stepped into the breach. Again, that makes sense in a crisis. But once the panic has passed, the U.S. will simply be steering toward another...
The largest government bailout in U.S. history was born before dawn on Sept. 17, when Federal Reserve Chairman Ben Bernanke woke up at 6 a.m., checked his BlackBerry and saw the very thing he had dreaded: the futures market in free fall. Bernanke, Treasury Secretary Henry Paulson and New York...
Ultimately Paulson, Bernanke and Geithner must convince the public that fixing the financial mess requires a dramatic expansion of government power--and in particular, the power of their respective offices. That may be a tough sell, in part because the disaster was as much a failure of the political system...
Barnes & Noble owners around the country must be suffering from sensory overload. Each week, they open a new shipment to find political hardbacks positively yelling at them. “If Democrats Had Any Brains, They’d Be Republicans.” “The Prosecution of...
Though it sounds secretive and glamorous, debate prep is magnificently unpleasant for everybody involved. The candidates have gripped and grinned their way through a savage jungle of fund raisers, powerful local idiots, soggy state-fair corn dogs and rabid, preening reporters just to get to the debates, a dangerous pinnacle...