Word: foolishment
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...business interests, would take first place in an election with more than 30% of the vote, vs. 17-24% for the Kaczynskis' conservative Law and Justice Party, which has dropped 10 points in 12 months. Many in Europe have greeted that prospect with relief, but it would be foolish to count the twins out. And even if the Civic Platform wins, it may not produce as drastic a change as some hope. The roots of the crisis go back to the founding of the government. In 2006, unable to secure the votes to rule alone or to hammer...
...interpreted as a morality play: greed gets its comeuppance. Subprime mortgages play the role that used to be played by junk bonds. They represent easy money--too easy, in retrospect. Borrowed money, if it gets out of hand, puts economic history on speed: everything rises faster, then collapses harder. Foolish lenders become the enablers of foolish borrowers. In the 1990s, people came to believe that stock prices would rise forever. They learned differently. And now we are learning differently about real estate as well. Whenever the price people will pay today depends on the belief that other people will...
...they borrowed against a value for their house that turns out to be fictitious and spent the money on ephemeral things like vacations, as the commercials urge them to do, that was foolish--in some cases, maybe even tragically foolish. People want the government to do something, and presidential candidates are beavering away at plans. But any plan that would prevent home prices from declining would be foolishness squared. Genuine tragedy deserves sympathy and help, even if it is the result of your own foolishness. But when we do not even guarantee basic health care, it would be nuts...
...must learn to be good neighbors. And I'm optimistic. People cannot be foolish forever.' I.A. REHMAN, Pakistani human-rights activist, on the relations between India and Pakistan as his country celebrates its 60th year of independence...
...must learn to be good neighbors. And I'm optimistic. People cannot be foolish forever...