Word: fearfully
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...mess caused by fast-and-loose mortgage lending in the U.S. has now blown into a perilous global crisis of confidence that has revealed both the scale and the limitations of globalization. Finance is built on trust, and suddenly that trust has been replaced by fear: fear among depositors from Madrid to Macao over the safety of their money; fear among banks worldwide about lending to one another; and now fear among politicians, central bankers and regulators that they don't have adequate tools to fix the problem...
...Monetary Fund (IMF) calculated that losses on these now virtually worthless securities could amount to $1.4 trillion. So far, banks have written off less than half that. Concern about who is still holding dud paper has gummed up credit markets, with banks refusing to lend to one another for fear that the borrowers may default or may have themselves lent to other banks that could default. That in turn is causing solvency problems for some financial institutions that rely on short-term borrowing to fund their operations...
...that global markets looked "very treacherous" and warned about rampant borrowing "to speculate in real estate." In 2006, he derided the notion that "business cycles have been banished" and spoke of the danger of "extreme events in which the entire financial system experiences distress." He added: "The absence of fear continues to astonish me. I fear the absence of fear...
...With no end to the turmoil in sight, continued stress on Asian markets looks likely to continue. "We do not think the re-emergence of fear on account of the global financial crisis will likely evaporate anytime soon," Merrill Lynch commented in an Oct. 3 report. Once that fear sets in, it is hard to dispel...
Corsi, author of The Obama Nation: Leftist Politics and the Cult of Personality, was in Kenya writing dispatches for the website WorldNetDaily at the invitation of Christian missionaries who fear the rise of Islam in Kenya. According to WorldNetDaily, he wanted to answer "lingering questions" about Obama's ties to Prime Minister Raila Odinga...