Word: feds
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Dates: during 1990-1999
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Alan Greenspan doesn't hurry often-- at least not in front of the cameras. But a few weeks ago the paparazzi caught the cucumber-cool Fed chairman hustling across Constitution Street in Washington, dodging traffic on his way to announce the Fed's first interest-rate cut in three years. Wall Street had seen it coming, and in New York the markets yawned. But Greenspan wasn't done running. He cut rates again on Thursday without waiting for the next Fed meeting, a dramatic move that caught Wall Street off guard. It was almost unprecedented in Greenspan's term...
...Fed isn't saying, exactly. But the safe bet is that Greenspan believes U.S. banks are in trouble. Big trouble. Maybe on the brink of a disaster to rival that of the S&L crisis (and subsequent government bailout) of the late 1980s. "The Fed did an internal investigation to see how much exposure the banks had to hedge funds and other high-risk investments," says TIME senior economics reporter Bernard Baumohl. "The cut was a clear signal that conditions are more severe than most of us realize...
After yet another Spanish A class where you get fed up with being the only person who isn't actually a native speaker, it may be time to head over to the Freshmen Dean's or Senior Tutor's Office and, to use a Springerism, kick that course to the curb. That's right, it's the fifth Monday of the term, which means it's your last chance to add/drop a course or change your grading status. 9 a.m. to 5 p.m., Freshman Dean's Office, Senior Tutor's Office or 20 Garden Street, Room...
...Night's modest box-office take. "It wasn't just food movies," he says, "though there were some of those, and it wasn't just ethnic stuff. I got comedies, dramas, melodramas, tragedies." But Tucci, finally sprung from the saturnine-villain roles (Billy Bathgate, Murder One) that both fed and trapped him, had his eye on a story he had been mulling for years. The idea became The Impostors, an $8.3 million opus (Big Night cost $4 million) that Tucci describes as "a little Heidegger, a little Buster Keaton...
Mortgage rates recently hit 30-year lows, and the Fed's interest-rate cut last week helped push the average 30-year fixed rate down to 6.6%. Loans may get cheaper still, but don't wait before refinancing: many lenders now charge no points or fees. If you're likely to move (as the average American does every 12 years), you can save with a hybrid loan that's fixed for three to 10 years, and then adjusts...