Word: greed
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Dates: during 2000-2009
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First, a tainted product emerges, killing some and sickening many more. Its origin is traced to China, where a combination of greed and negligence allow the danger to slip into the food chain. The government downplays or ignores the risks. When the problem becomes so big it can't be denied, leadership orders inspections and promises to punish wrongdoers. The new vigilance leads to other risky products being identified, but officials suggest the problems aren't systemic - just the work of a few bad eggs. The state tightens inspections on imports and finds a few tainted products from overseas...
...Regardless of the specific degree to which the Bush Administration is to blame for the current crisis, the economic policies pursued over the past eight years have rewarded unbridled greed and corruption while neglecting the backbone of the American economy–the middle class. For the vast majority of Americans, John McCain’s economic agenda, which will make the Bush tax cuts permanent and continue the discredited trickle-down policies of the past eight years, is unlikely to mitigate the pain of a very real recession...
...Causes of the Crash Reading about the subprime loan debacle, I am amazed that nobody seems to have asked the simple question: What will happen if a large number of these loans default? [Oct. 20] Or was it only greed that made everybody turn a blind eye to the possibility that the bubble could ever burst. Did no one consider that if the subprime-mortgage market crashed, thousands of families could have their lives turned upside down virtually overnight? Frederik Steenbuch, Oslo...
...even if the summit yields trans-Atlantic agreement on tougher regulations, Lannoo says the new determination to substitute sobriety for greed may be a harder line to sell to emerging nations. "Lots of countries in Africa, Asia, Middle East, and South America are going to say, 'these are reactions to your problems created by your systems - why should we listen to anything you say now?'," Lannoo says. "The challenge isn't just finding ways to prevent future excess, but also to convince nations like China and India to agree to turn off the music and quiet down when they...
...companies going bankrupt or merging, and health care made unavailable as a result of cost. Suggesting that borrowing to live is the cause of the Wall Street collapse when the 400 richest people in the U.S. have as much money as several million average citizens shows ignorance of the greed and avarice controlling this country. Paul A. Heller, Washington, Mich...