Word: hill
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...Senate passed the Smoot-Hawley Tariff Act, which raised duties on some 20,000 imported goods. Historians define this as one of the critical steps that led to the Great Depression - a tipping point when the world realized that partisan self-interest had trumped global leadership on Capitol Hill...
Reverberations from the implosion of the U.S. debt bubble can be felt a long way from Wall Street. Gaurav Rege was a hotel manager near Rishikesh, an Indian hill station at the foot of the Himalayas. He and his new wife are young, educated, well-off - and worried. A member of India's growing consumer culture, Rege, 30, took out an adjustable-rate loan two years ago to buy an investment property near Bangalore, but his monthly payments have jumped because of tighter credit and rising interest rates. He has abandoned plans to get an M.B.A. because student loans...
...Steel and so forth. And the 20th century created a language for that. Now architects must develop an aesthetic for our discovery about the fragility of nature." And as they do, one of the places they'll study most closely is this inspired academy--not a temple on a hill but a hill on a temple...
...credit markets seizing up, Washington went to the well once more, as a lame-duck President joined Democratic and Republican congressional leaders to ask Americans to trust them with a $700 billion Wall Street rescue package. But the well of trust had long run dry. Outraged calls overwhelmed Capitol Hill switchboards, and on Sept. 29 the bailout failed in the House, panicking the markets anew. Washington is still likely to find a fix for the credit crisis, but after a series of corruption scandals and a longer series of gaps between deeds and words, its own credibility crisis might take...
...easy to see why they didn't: they don't want to face a populist backlash alone. Revulsion at a Wall Street bailout has crossed ideological lines, with liberals as disgusted by handouts to irresponsible bankers as conservatives are by a socialist solution to capitalist problems. On the Hill, constituent phone calls ran 100 to 1 against the Paulson plan, and most vulnerable incumbents in both parties voted against it despite all the doom-and-gloom warnings about the devastating consequences. It's times like these that call for presidential leadership, and Bush no longer has many followers, which...