Word: loaning
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...proposal for this unprecedented government intervention in the market follows a series of financial shocks in recent weeks, including the failure of Lehman Brothers, the government takeover of mortgage giants Fannie Mae and Freddie Mac, the largest government bailout to date, an $85-billion loan to the American Insurance Group, and most recently, the failure Washington Mutual and its subsequent takeover by federal officials in the largest bank failure in U.S. history...
...since Ronald Reagan declared in his first Inaugural Address that society is like a family and has to live within its means. We took this as an invitation for our families to start borrowing like the Federal Government. So now we have the national debt, credit-card debt, student-loan debt, plus Social Security and other government promises that amount to more debt (although they aren't on the official books...
...after that? Think the unthinkable. On Sept. 18, Paulson and Bernanke laid out the dark scenario for stunned-silent congressional leaders: a stock-market crash, businesses going under, unemployment soaring, consumers unable to get so much as a car loan, banks failing so fast that they would quickly drain the federal deposit insurance fund--and with it, countless people's life savings. And unlike the chain reaction that came over the course of weeks and months in 1929, this one would happen in a matter of days, if not faster. "The chain reaction," said Paulson, "is quicker than...
...ailing financial institutions. The unprecedented government intervention in the market follows a series of financial shocks in recent weeks, including the failure of Lehman Brothers, the government takeover of mortgage giants Fannie Mae and Freddie Mac, and the largest government bailout to date—an $85 billion loan to the American Insurance Group, Inc., an insurance company whose near-collapse some feared would send the financial system into a tailspin. The headline-grabbing failures follow a year-long financial decline, caused by unexpectedly high rates of home loan defaults that tore through the economy and wiped out billions...
...ailing financial system. The unprecedented government intervention in the market follows a series of financial shocks in recent weeks, including the largest bankruptcy in history, the government takeover of mortgage giants Fannie Mae and Freddie Mac, and the largest government bailout to date—an $85 billion loan to the American Insurance Group, Inc., a global insurance company whose near-collapse some feared would send the financial system into a tailspin. The headline-grabbing failures follow a year-long financial decline, caused by unexpectedly high rates of home loan defaults that tore through the economy and wiped out billions...