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...initial TARP may also have provided time for the new Administration to put together its widely hailed bank "stress test" program meant to determine which of the big financial institutions have dysentery and which do not. Finally, the hundreds of billions of dollars that went into the largest banks late last year allowed Secretary Geithner to produce his public/private partnership to buy toxic assets off of bank balance sheets...
...banking crisis may be over, but what is left is a reclamation job that will probably take years to complete, will still have a taxpayer price tag of over $1 trillion, and will leave America's largest financial firms as institutions of modest power and a regulated scope which will prevent them from looking anything like what they did two years...
...Ultimately, as the G20 recognized, the largest irony is that the countries worst hit by the current crisis are not the places in which it originated. But, across Eastern Europe, few people have time to be ponder such facts. The Polish zloty has lost a third of its value against the euro in just a few months, but that has not made its exports more competitive, since they have plunged along with global economic trade. The Czech Republic, arguably one of the most respectable governments in the region, has seen its prime minister resign right in the middle...
...Behr opened the first matzo-making factory in Cincinnati, Ohio. Behr adopted the name Manischewitz, named his factory the B. Manischewitz Company and developed an entirely automated method of matzo production. In advertisements, Manischewitz boasted that "no human hand touches these matzos!" By 1920, he was the world's largest matzo producer - at 1.25 million rectangular, sheetlike matzos a day - but he always adhered to the original kosher rules. As Manischewitz's popularity grew, so did the general perception of matzo. Gone were the lumps and bumps of homemade mazo; machine-made mazo was uniform in size, shape, taste...
...that result is not guaranteed, and by any measure - popularity, membership, moral authority - the party is in decline. Its leaders are embroiled in a series of scandals involving both corruption and ineptitude. As a government, it has failed to stem raging violent crime and the world's largest HIV/AIDS epidemic. It has presided over an economic boom that has made millionaires of a well-connected élite but left countless lives unchanged. As a party, it is accused of politicizing the police and the bureaucracy and showing contempt for the constitutional democracy for which it fought so long. (See pictures...