Word: downturning
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...risk than they have to. With no one to sell the lower-quality stuff to, banks may be stuck holding it. The good news is that so far, credit-card and auto loans have not had the same high rates of default as home loans. But as the economic downturn worsens, analysts say it will become harder and harder for consumers to make even the minimum payments on credit-card debts that have racked up over years of overspending...
...Arguing that today's financial market chaos came out of nowhere will be key to Myerson's case. While Pointer, his lawyer, claimed in court recent events were indeed "unforeseeable and unforeseen", Nicholas Mostyn, representing Myerson's ex-wife, hit back that "the present downturn was totally foreseeable and indeed well under way" at the time of the couple's settlement a year ago. Moreover, Mostyn argued, as a fund manager, Brian Myerson knew as well as anyone that shares can go up as well as well as down. "He agreed in exchange for having a majority of the assets...
...tsunami continues to rage across the planet, the near universal refrain has been that joint action is needed to pull us out of the crisis. But when it comes to stimulus spending, the U.S. and Europe have taken different paths, jeopardizing hopes of a united front to combat the downturn...
...Harvard Square Business Association, said she had already sampled Sweet’s offerings. “I think I’m going to need a treadmill,” she said, laughing. She said that opening up the original Sweet in the middle of an economic downturn has not been a problem. “We’ve had a really warm welcome from the Boston community and a really good business level,” she said. Cross—the original occupant of the space that the new cupcake shop will fill?...
...serving as Director of the Peace Corps to becoming President of the nonprofit organization United Way over the course of her career. Her last position was as President George W. Bush’s Secretary of Labor. When asked about acquiring jobs in the midst of an economic downturn, Chao encouraged students to look more closely at public sector positions, predicting that the federal government would likely undergo a massive retirement wave in the next five to 10 years, leading to a higher demand for skilled professionals in that area. “Especially now with the recent stimulus package...