Word: dollarization
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Dates: during 1980-1989
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...that Wall Street had sufficient cash to buy stocks after the Friday the 13th sell- off, the Fed pumped $2 billion into the banking system Monday. Earlier, E. Gerald Corrigan, president of the New York Federal Reserve Bank, urged officials in Japan and West Germany to support the U.S. dollar to help restore confidence in American markets. "The U.S. had excellent crisis management this time," said Heiko Thieme, the Manhattan-based chief strategist for West Germany's Deutsche Bank...
...each river house, the average meal costs between $4.50 and $5.00, but average meals at the Quad cost nearly a dollar more, the report said...
Harvard was one of 14 universities which shared use of the multi-million dollar Princeton facility in a consortium arrangement, Weber said yesterday. The supercomputers, highly valued in advanced scientific research, make billions of calculations per second and are used in subatomic physics and semiconductor research, among other applications...
...point most thoughtful Wall Streeters agreed: the market had reached such dizzying heights that a correction of some sort seemed almost inevitable. Propelled by favorable economic news and a wave of multibillion-dollar takeovers, stocks had soared more than 1,000 points since the 1987 crash. But by last August some Wall Streeters were clearly worried. Noted Donald Stone, a floor specialist for Lasker, Stone & Stern: "I've been on the trading floor for 39 years, and I've never seen the market go up so fast for so long without a major break." Yet the bulls kept on running...
...often in developing nations the U.S. has inadvertently contributed to the environmental problem rather than the solution. In the early 1980s, the U.S. Agency for International Development helped build the Mahaweli Dams in Sri Lanka -- a multibillion-dollar construction typical of AID's past tendency to define development in terms of steel and concrete. The project has flooded forests and destroyed tea plantations. Washington's Environmental Policy Institute cites the dams as one of the 18 most destructive water projects on earth...