Word: inks
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Markets like to see management, or government, openly recognize problems. That's the vital first step toward fixing them. In Japan, last week's bank failure was the catharsis that investors wanted, and the market's swift approval is certain to encourage more bold acts. Indeed, the ink hadn't dried on this page when giant Yamaichi Securities said it too would liquidate--and regulators pledged cash to protect the firm's clients. Japan's financial system has some $500 billion of uncollectible debt--reminiscent of the savings-and-loan mess in the U.S. a decade ago. America's taxpayer...
...Monday that a deal had been reached for an IMF bailout of between $50 and $60 billion, about three times the country's original target. But later in the day, IMF managing director Michel Camdessus threw cold water on that one, noting that nothing is final until both sides ink an agreement. The Wall Street Journal reports that the parties are still at odds over Seoul's gross domestic product growth rate for next year...
...evolution of the Democratic center from Lancasterism to Tauscherism has not been adequately appreciated. Most of the ink evaluating moderate Democrats in Congress has been spilled on the Blue Dogs, an alliance of mostly Southern, mostly rural, mostly socially conservative House Democrats founded in early 1995. But the Blue Dogs are--pardon the expression--a dying breed. They gained six new members in 1997 but lost nine to retirement, defeat and party switching. Their membership totals...
...Meanwhile, the government reported that the budget deficit for fiscal year 1997 shrank to $22.6 billion, better than what the White House had expected and the smallest amount of red ink since...
...Vividness and clarity are crucial to commenting on papers. When grading a student's paper, be sure to use only green, pink, purple or orange ink...