Word: failed
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Dates: during 2000-2009
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...preventing a sharp recession from becoming a prolonged one. The reason AIG has cost taxpayers $170 billion - and the reason the Obama Administration seemed willing, at least at first, to hold its nose and accede to bonuses for the company's managers - is that it's too big to fail. It's an often heard phrase, but what does it really mean? (See the top 10 financial collapses...
...borrowed money over the last two years. Many of those clients are tapped out, and the big bank faces hundreds of millions, possibly billions, of dollars in write-down of consumer loans. That does not take into account the amounts that will be lost as commercial mortgages and LBOs fail...
...hand, no one wants taxpayer money handed indiscriminately to Wall Street investors with no hope of return. On the other, if the program doesn't encourage buyers to participate not only will the program fail, the markets could suffer a mini-panic, just as they did when the plan was unveiled with no details in mid-February...
...defined by a common experience. It should have been a generation outward looking in a positive way, with more education, access to technology and aspirations for economic mobility." Instead, he says, "it's become hostage to post-9/11 politics." Disillusioned with extremists who can destroy but who fail to construct alternatives that improve daily life, members of the post-9/11 generation are increasingly relying on Islamic values rather than on a religion-based ideology to advance their aims. And importantly, the soft revolution has generated a new self-confidence among Muslims and a sense that the answers...
...apparent that its parent company wouldn't survive without $170 billion (and counting) in taxpayer aid. Without that aid, AIG would have gone bankrupt in September and the bonus promises would have been torn up. AIG was not allowed to go bankrupt because Lehman Brothers had just failed and the people at the Treasury Department and the Federal Reserve worried (with reason) that another failure - in particular, the failure of a firm that wrote default insurance for banks around the world - might wipe out the global financial system and unleash an economic catastrophe far worse than what we're going...