Word: globality
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Dates: during 1990-1999
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...global scene, the wobbly Boris Yeltsin still sits in the Kremlin in a crumbling Russia, while the enduring German Chancellor Helmut Kohl has been wobbled out of office in the most powerful country in Europe...
...looking glass phenomenon has even reached us here at Harvard. The endowment is down and financial aid is up. Strangely, this year a global symbol of democratic hope, Nelson Mandela, was honored by the powers-that-be. At the same time, not a single Communist dictator has been seen gracing the stage of Sanders Theatre...
...backing for private lenders encourages them to take bigger risks--in search of bigger rewards. That danger was demonstrated in dramatic fashion when the Federal Reserve had to engineer the rescue of Long Term Capital Management, a high-flying hedge fund that as recently as August controlled high-risk, global investments worth more than $120 billion--enough...
Star-struck lenders had virtually showered money on Meriwether and his band of supposed geniuses. While the term hedge refers to techniques for reducing risk, funds such as Meriwether's often do just the opposite by using vast sums of borrowed money to make highly speculative bets in global markets. At the peak of its borrowing, the secretive fund reportedly carried a debt load 100 times as great as its net assets, or ownership capital. This would be like putting down $1,000 of your own money to buy a $100,000 house--in a flood plain...
...JANEIRO: Congratulate the Brazilian people for their farsightedness: The current global contagion that has pushed Brazil's government to the brink of disaster has visited equal hardship on its people, yet the nation is poised to reelect President Fernando Enrique Cardoso with the full knowledge that he has even deeper hardship in store. Rarely have the IMF and its usual victims -- ordinary citizens -- been in such agreement...