Word: fiascoes
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Dates: during 2000-2009
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...came to power in 1959, ousting the country’s former dictator, Fulgencio Batista. Leading a revolution against the oligarchy that had developed as a result of Batista’s economic policies, Castro initially denied both being a communist and a dictator. Following the Bay of Pigs fiasco in 1961, Castro officially adopted the communist label, began to nationalize private property, and strengthened ties with the Soviet Union. Throughout his reign, Castro severely limited the press, held highly questionable elections, and imprisoned untold numbers of “counter-revolutionaries” without trials—drawing heavy...
...with politicians angry with the bankers over the subprime fiasco, the heat is rising on the industry's credit-card segment. One of the strongest proposed changes is Levin's provision to limit interest rate increases to no more than seven percentage points above the initial rate. "Too many card issuers engage in very, very severe abuses and outrageous practices. It?s indefensible," says Levin, who arrived at seven, because it is about 50% above many cards' initial interest rate of around...
...world of dizzying financial complexity, this explanation fails to address the numerous agents whose alleged irresponsibility and apparent greed set the stage for this fiasco. Mortgage borrowers, mortgage lenders, investment banks, credit rating agencies, and hedge funds all share the blame for this financial crisis...
Last week, a squabble between the student government and newspaper at Montclair State University forced editors to halt publication as legislators revoked their funding. Though the Student Government Association (SGA) has recently agreed to temporarily resume funding, the fiasco marks a disturbing and troublesome trend in collegiate journalism—namely, that criticism of authority is met with censorship. The debacle began when the newspaper critiqued the student government for holding meetings that were closed to the press—a violation of a state open meetings law, according to a lawyer that that paper retained. Though the editors?...
...wake of the debacle that it's about to launch a bid it had contemplated even before the Kerviel affair. Meanwhile, comments by French officials indicating the government would step in and prevent foreign "predators" from exploiting the Société Générale fiasco drew fire from European Union authorities. Mistral suggests that BNP's shot across the bow was a boon for the government: "by signaling to rivals abroad that French banks are already on the case, BNP saves President (Nicolas) Sarkozy and his advisors the trouble of noting that foreign suitors need not apply...