Word: greats
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...want a little less drama. One of the great strengths of our system is that we have 8,000 to 9,000 banks, and we have not just these large institutions but a very diverse mix of regional and local community banks across the country, and that made our system in this crisis more resilient. I don't think that we want to end up with a more concentrated system than we have today...
...Great Moderation was a name economists gave to a post-1982 era marked by only two mild recessions and long stretches of uninterrupted growth. That's over, and the transition to whatever comes next will, if history is any guide, be messy. From 1970 to '82, the U.S. economy was hit by four downturns, two of which (1973-75 and 1981-82) until recently competed for the title of "worst since the Great Depression." The current recession has undisputed claim to that title. And while we may be about to climb out of it, don't be surprised...
Saying energy prices would stay high was one of the great forecasting errors of the late 1970s and early '80s--so it's a little scary to predict that they will stay high this time around. But the fact that even the slightest hint of a turnaround in the global economy has sent oil prices skyrocketing from $35 a barrel to more than $70 ought to be a sign that the upward price cycle that started a decade ago isn't played out yet. The crucial element may be that the struggling U.S. no longer drives the global demand cycle...
...teenager to move to Canada and for a while lived just across the river from Detroit, is not a micromanager. He declined to be interviewed, but in a first-person account of the Fiat turnaround published in Harvard Business Review, he talked about how he had abandoned the "Great Man model of leadership" that long characterized the Italian firm. Fiat's Great Man was the late Gianni Agnelli, grandson of founder Giovanni, whose family was nothing short of Italian industrial royalty and still controls the firm...
...British soldiers. But news that the inquiry would be closed to the public and that its results would not come out until after the next election outraged critics and opposition parties. Foreign Secretary David Millibrand dismissed claims of "an Establishment stitch-up," saying, "If you are looking for a great conspiracy, you are not going to find...