Word: fed
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Dates: during 2000-2009
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Jeremy Siegel, professor of finance at the Wharton School of the University of Pennsylvania, says the Fed's actions this week - effectively lending a trillion dollars into the financial system - may have a more dramatic immediate impact. "Given what the Fed is doing now, I wonder if we even need the $700 billion,"Siegel says. If the Fed and Treasury steps turn out to be effective, the market could turn the corner sharply. The most dramatic growth in U.S. stock market history took place between 1932 and 1933, out of the depths of the depression...
...market had initially been buoyed by decisions that occurred before it opened - both the Fed's decision to buy the short-term debt, called commercial paper, that companies issue to fund expenses like payroll and inventory, and the Reserve Bank of Australia's surprising decision to cut its official interest rate by a full percentage point...
...even the unprecedented Fed decision was quickly discounted by the market. Chris Low, chief economist of FTN Financial, said buying commercial paper was a "very good move," but explained that "investors almost have to see things work now before they'll believe them." In particular, Low pointed out, investors may want to be sure that this year's bailout shows results - unlike last year's Master Liquidity Enhancement Conduit, which was an attempt to solve the subprime crisis by three private banks (Citigroup, JP Morgan Chase and Bank of America) using private money - essentially what Treasury Secretary Hank Paulson hopes...
Francis Sullivan has no idea what she is going to do. Her house is a total loss. She has few clothes, just $38 in food stamps, and her Social Security pension, but she has few complaints. The National Guard charged her cellphone. The Salvation Army has fed her. Meanwhile, Texas state agencies have received over 600,000 requests for various forms of assistance and support from victims of the storm...
...opening half the Crimson was whistled for violations close to Brown’s goal, and twice a Harvard shot skidded just wide of the net. In the waning moments of the half, the Crimson finally broke through. Harvard gained possession off of a Bears turnover and fed the ball ahead to McVeigh and McCoy. The two sophomores passed back and forth on a breakaway before McCoy crossed the ball from the left side to McVeigh who gathered it in front of the goal. The forward tapped the ball into the right corner for her third goal in four games...