Word: fed
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Dates: during 2000-2009
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Meanwhile, a group of economists at the Federal Reserve Bank of Boston had been noticing the same thing. "We were trying to understand why these numbers looked the way they did," says Burcu Duygan-Bump. Partly because of conversations the economists had with Fed staffers in the banking supervision division, the group came to believe the aggregate data was obscuring the underlying dynamics of the financial system. "If you say New England has a snowstorm with an average snowfall of two inches, that might not reflect the fact that Boston got ten inches and northern Maine got none," says Ethan...
...affable, debonair fellow named Stanley Chais, who ran the Brighton and Popham investment groups for decades. We were in two sub-groups of Brighton, and they were small, 10 to 15 people - possibly so they would fly under regulator radar, victims now tell me. Brighton, it turns out, fed the money into Madoff. I'd sit next to Stanley at year-end holiday parties and, knowing my family's money was in his hands, I'd ask: "How're things going with the arbitrage?" The answer was always, "Life is good." Things have changed...
...While U.S. automobile companies have some responsibility for their current predicament, the U.S. Treasury and Federal Reserve have unclean hands as well. Each of the car companies had adequate capital entering the fall, but when Treasury and the Fed "brought down the house" by letting Lehman Brothers fail, worldwide credit markets froze, preventing Americans from buying cars, since most people use loans or leases to do so. Financial markets and the lack of available consumer credit - not a lack of appealing car designs - are the reasons for this crisis, and piling the blame on Detroit is simply not balanced. Steven...
...other person suddenly not taking risks is Obama. He hired old, experienced staffers--one of whom is so old, he was, impossibly, the Fed chairman before Alan Greenspan. It is possible that he's vetting people from Lincoln's Cabinet. Obama's economic scheme isn't to buy up vast amounts of mortgage-backed securities but to fix old roads and bridges. This is a guy who not only understood how to roll the dice in 2008 but might also have a good idea what we're going to be like for the next few years. We're probably...
While U.S. automobile companies have some responsibility for their current predicament, for many of the reasons you cite, the U.S. Treasury and Federal Reserve have unclean hands as well. Each of the car companies had adequate capital entering the fall, but when Treasury and the Fed "brought down the house" by letting Lehman Brothers fail, worldwide credit markets froze, preventing Americans from buying cars, since most people use loans or leases to do so. Financial markets and the lack of available consumer credit--not a lack of appealing car designs--are the reasons for this crisis, and piling the blame...