Word: grimness
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There is no more powerful image of fear than a population gripped by plague. A novel flu virus exploded through Mexico last week, killing some 150, infecting hundreds more, and generating images of masked citizens and grim officials enumerating the latest toll. By April 29, the virus had spread to at least nine countries, leading health officials to raise the alert level and warn that a pandemic is imminent; the most recent influenza pandemic, in 1968, killed around a million people...
...that three months of supervisory scrutiny of the country's top 19 banks hasn't produced some grim news. If the economy dropped to Depression-era levels of unemployment and credit shrinkage, according to the Treasury and the Federal Reserve, those firms could lose nearly $600 billion by the end of 2010, on top of the $350 billion they've already lost since mid-2007. Bank of America needs nearly $33.9 billion in new capital, Wells Fargo needs $13.7 billion and Citigroup needs $5.5 billion. Altogether, 10 of the top 19 need $74.6 billion in additional capital...
...news, leaking out over the course of several days, likewise lifted the markets, sending bank stocks up dramatically for the week by close of business Thursday. And for all the grim numbers, the banks themselves were touting the results, too. "The regulators demonstrated that the industry is strong now and, should conditions worsen, will only need minimal capital to remain strong," says Scott Talbott, a top lobbyist for the banks...
Pakistan: Grim Options Asif Ali Zardari, despite being democratically elected, may be politically doomed - and unable to deliver on U.S. demands that he wage a civil war that would be unpopular even with many Pakistanis who oppose the Taliban. Lately, there's been growing speculation that the Administration may be turning its attention to cultivating opposition leader Nawaz Sharif, who is currently Pakistan's most popular politician. Widespread reports suggest that the Obama Administration hopes to persuade Zardari and Sharif to share power in a new unity government committed to fighting the Taliban. But like Zardari and his late wife...
...Despite the grim employment outlook, Maciejowski isn't the only white-collar worker to respond to lay-offs by planning a vacation; across the country recently unemployed white-collar workers are taking similar pink-slip trips to places near and far. Some are like Maciejowski, hoping travel will help her clear her head and plan her next career move. Others are simply trying to escape the harsh realities of job hunting. "After weeks upon weeks of searching job boards for that next great gig, it is nice to just take off and forget about everything for a few days," says...