Word: froze
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...does not have one for Russia - unless you want to call "Let's not rile the Bear" a strategy. Nor is "Let's annoy him a little bit" the epitome of statecraft. The latest example is Georgia. In the wake of the Russian invasion this summer, the European Union froze talks about a new economic partnership. But on Nov. 14, that killer sanction was lifted after just 10 weeks when the E.U. and Russia embraced at a summit in Nice...
...After an adult Grogan admits to his parents that he hasn't gone to church for years: "I froze, then turned back. As I did he threw himself against me and buried his face in my shoulder, locking me in a grip so tight it was if he would never let go. I felt him shaking, his chest lurching against me. Then I felt a warm wetness on my neck and heard his sobs, his jagged gasps. The man I had never seen shed a tear, my Rock of Gibraltar, was crying in my arms...
...hammer was supposed to be the famous $700 billion bailout bill that Congress signed last week, in which Paulson and Co. were given wide berth to do what they needed to ease the financial panic that all but froze credit markets. Much of the discussion, and the planning, has revolved around how the government would buy up the toxic securities such as CDOs (collateralized debt obligations) that are now poisoning bank balance sheets. The thinking has been that once financial institutions can unload this trash on the government, the gears of commerce will move again. But that takes time...
...were told they couldn't access most of the $9.3 billion sitting in a short-term fund that had been offering slightly higher returns than U.S. treasuries. To prevent a run on the fund -12% of which was invested in mortgage-backed securities - the fund's trustee resigned and froze withdrawals so it could liquidate the assets and distribute the proceeds in an orderly manner. The same thing happened to another 200 schools with $1 billion in an intermediate-term fund. Given that the schools will get about half of their money by the end of this year...
...process of revising labor laws to provide greater protection for local workers, and in July, the Finance Secretary, Tam Pak-yuen, implored the casino operators to promote Macanese to higher managerial positions. Backed by Beijing, Ho is also putting the brakes on Macau's casino boom. In April, he froze the issuance of new gaming concessions and imposed a moratorium on new casino projects, beyond those already in progress. In July, Macau's government announced it would tighten visa restrictions for mainland tourists, halving the maximum length of their stay from 14 days to seven and requiring special approval...