Word: failings
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First, the fragility. Allowing Lehman to fail - cited often as the government's biggest boo-boo - started a chain reaction. There was a run on money-market funds after one big money-market fund revealed that it owned a lot of suddenly worthless Lehman debt. London-based hedge funds that relied on Lehman for day-to-day financing found themselves unable to do business because their accounts with Lehman's U.K. subsidiary were frozen. Similar dislocations played out around the world. Before long, financial institutions were paralyzed by fear. They simply didn't trust each other anymore, and didn...
...major figures on the right have too much riding on Berlusconi, who paradoxically grows in power even as the scandals seem to weaken his moral authority. In some ways, Berlusconi is the Italian political equivalent of Bank of America or AIG: he is simply too big to fail. Too many who have carved out their slice of power would risk losing it all in the monumental shakeout that would follow Berlusconi's exit from politics. And even in that unlikely scenario, the Prime Minister would have his ownership of the nation's major private television networks to fall back...
...Maine Senator Olympia Snowe, a Republican, suggest implementing a “trigger option,” which would give insurance companies a window of time in which to implement reforms or else have a public option come into existence at the end of the window should they fail to meet certain benchmarks. Many other options are available, and we hope Democrats remain open to flexibility and give each alternative a fair consideration. Bipartisanship, however, can be a double-edged sword. Whereas some Republicans, like Snowe, are well intentioned and are sincerely working on health-care reform in order...
...from the government to Goldman Sachs and other investment banks. Geithner was also asked whether he thought the government's bailout efforts, which have actually allowed a number of banks like Bank of America, JP Morgan Chase and Wells Fargo to grow, has only exacerbated the too-big-to-fail problem in the banking business...
...builds, it never explodes. Restraint seems in many ways totally at odds with this band—given their endless supply of cover songs, not to mention records—but here it works, preserving an internal rhythm that cycles throughout the song.Like all parents, Yo La Tengo occasionally fail to engage their listening audience. The uninspiring “By Two’s” is the album’s requisite snoozer, James McNew’s sole vocal performance (“I’m on My Way”) is pleasant but forgettable...