Word: feds
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WASHINGTON: Alan Greenspan gave the House Banking Committee a tour Wednesday through the hospital ward that is the global economy, and once you untangle what committee chairman James Leach laughingly called "international banking-ese," the Fed chairman sounded a lot like Patton. While acknowledging that the modern ultra-connected economy is less forgiving than at any other time in history, Greenspan chastised both borrowers and lenders for irresponsibility and bad risk assessment, attacked the nonparticipation strategy of China and India (and by association Malaysia), and in general told the ailing: Quit whining and clean up your economic acts, and free...
Federal Reserve Chairman Alan Greenspan, speaking after the markets closed last Friday, revealed that Fed policymakers are worried that the threat to the U.S. economy from global financial turmoil rivals the danger of wage and price inflation. The Fed is now as likely to cut interest rates, he hinted, as to raise them. "It is just not credible that the U.S. can remain an oasis of prosperity unaffected by a world that is experiencing greatly increased stress," Greenspan said in a speech at the University of California, Berkeley. Then he headed off to join Treasury Secretary Robert Rubin...
...like to thank you," Sherman, a first-term House member, told his "town hall" audience last week in Westlake Village, Calif. "You asked 27 questions tonight--and not one about Monica Lewinsky." Those in attendance echoed the words of rancher Grant Gerson, 77, who said, "People are fed up with it. I don't think it's relevant to anything going on here." And yet Sherman, who won his seat in 1996 by just 5 percentage points, is concerned that the scandal will cost him 3 of those points this year, turning his re-election bid into a fight...
...weeks ago to testify before Kenneth Starr's grand jury, Clinton was agreeing to make three of the hardest speeches of his life: to his wife and daughter, to the grand jury and to the rest of us. Before that was over, the Commentariat would also need to be fed, to satisfy its hunger for a story line with drama and pathos and a denouement, perhaps a body or two, certainly some blood and guts. By last Sunday, when the speech was nearly at hand and the predictions were buzzing like cicadas over the capital, there came a moment when...
...since the damage clearly went beyond just the President's immediate family, the circle of victims had to be widened; at least that way Clinton could be seen as paying a price. By Monday, White House reporters were being fed tales of the President's other painful conversations. The word for the weekend was "betrayal"; the scene was of the President taking his loyal aides aside one by one and apologizing to them for what he had put them through. This was essential, since his willful abuse of the people around him was becoming a matter of public record. There...