Word: interventionism
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The clear message from Asia is that more intervention is needed to restore the financial system. The crisis is "now too big to be solved by the private sector," says Takahide Kiuchi, chief economist of Nomura Securities in Tokyo. It's a lesson Asia learned a decade ago.
Young children have no trouble discussing issues of race while young teens, influenced by social taboos, avoid the topic in social settings, according to a joint study from professors at Harvard Business School and Tufts published last month. The paper, entitled “Learning (not) to talk about race...
Low oil prices and a falling euro, for instance, would have been considered generally good developments only a few months ago. Yet markets are so spooked that they're driving indexes into the ground and thereby increasing the chance of general economic contamination. "We're back to the most basic...
In the days since Congress passed a $700 billion bailout bill to get toxic assets off banks' balance sheets and inject companies with new capital, governmental intervention in the credit crisis has continued and even grown as other countries step up their own efforts to guarantee bank accounts and bolster...
For the moment, though, the priority remains trying to stabilize a global financial system that has become worryingly volatile. Announcing Britain's plans to recapitalize its major banks and reach out for a broader international solution, Prime Minister Gordon Brown didn't mince words. "This is not a time for...