Word: feds
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...dollars of soon-to-be-worthless junk bonds to elderly Southern Californians. Can Keating still summon U.S. Senators--the Keating Five--to his defense at the touch of a phone pad? Or procure the services of top law and accounting firms? Or hire Alan Greenspan, who, before he became Fed chairman, gushed over the "outstanding success" of Lincoln Savings & Loan, Keating's star asset? No. All that happened before Lincoln crashed in a $3.4 billion pile of broken dreams, the most costly savings and loan failure in U.S. history...
...some ways the exaggerated, vowel-rich sounds of Parentese appear to resemble the choice morsels fed to hatchlings by adult birds. The University of Washington's Patricia Kuhl and her colleagues have conditioned dozens of newborns to turn their heads when they detect the ee sound emitted by American parents, vs. the eu favored by doting Swedes. Very young babies, says Kuhl, invariably perceive slight variations in pronunciation as totally different sounds. But by the age of six months, American babies no longer react when they hear variants of ee, and Swedish babies have become impervious to differences...
...worrisome raise in inflation. Sustained growth could create inflationary pressures as labor demands drive up wages and prices, causing the Federal Reserve to hike the cost of borrowing. But growth is likely to be lower this quarter, easing fears of an overheated economy. Investors were also reassured by Fed Chairman Alan Greenspan's statement Thursday that the Consumer Price Index is overstating inflation, a sign that the Federal Reserve probably won't raise interest rates at its monthly meeting next Tuesday...
...worrisome raise in inflation. Sustained growth could create inflationary pressures as labor demands drive up wages and prices, causing the Federal Reserve to hike the cost of borrowing. But growth is likely to be lower this quarter, easing fears of an overheated economy. Investors were also reassured by Fed Chairman Alan Greenspan's statement Thursday that the Consumer Price Index is overstating inflation, a sign that the Federal Reserve probably won't raise interest rates at its monthly meeting next Tuesday...
WASHINGTON, D.C.: Fed Chairman Alan Greenspan told the Senate Finance Committee Thursday that the Consumer Price Index should be adjusted downward, and called for the creation of an independent commission to monitor future increases. Greenspan, who has long pushed for an adjustment to the CPI, told Senators he fully agreed with a December report that the index was overestimating inflation by 1.1 percentage points annually, an error that will cost the government $1 trillion over the next 12 years in cost-of-living increases and lost tax revenue. "Greenspan has been pushing for an adjustment to the CPI for years...