Word: lynching
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Dates: during 2000-2009
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...dominoes fell one right after another: the demise of Lehman Brothers tipping into the rushed sale of Merrill Lynch to Bank of America, followed by the federal takeover of AIG. Then, the desperate credit crunch of Wednesday caused the emergency maneuvering by the Federal Reserve and the Treasury on Thursday and Friday...
...Treasury, led by the vigorous former Goldman Sachs CEO Henry M. “Hank” Paulson, proved unable to bring lasting calm to the market: Neither lower interest rates, nor greatly expanded liquidity helped thaw frozen credit markets. Even after brokered shotgun weddings like those of Merrill Lynch and Bank of America or Bear Stearns and JP Morgan Chase, what Professor Kenneth Rogoff once called the “flagship” American sector, the financial services industry, seems to have no bottom...
...That's more or less the deal secured by Temasek, a sovereign wealth fund in Singapore, when it invested in Merrill Lynch. It dumped $4.4 billion into Merrill last December at $48 per share, but a downside protection clause meant the firm would make money even if the stock plunged to $24. It did - and then some. By late last week, Merrill traded at just over $17 a share, increasing the pressure on CEO John Thain to do a deal. Over the weekend, he sold the firm to Bank of America in an all-stock transaction worth about...
McCain, John • asserts, amidst upheaval at Lehman Brothers and Merrill Lynch and the stock market's worst day in seven years, that "the fundamentals of our economy are strong" •concedes, an hour after asserting that "the fundamentals of our economy are strong," that "the American economy is in a crisis - in a crisis!" •concedes Obama didn't call Palin a "pig" while defending his ad implying Obama called Palin a "pig" •confusion about Spain of •declares, inaccurately, that Palin took no earmarks as govenor of Alaska •regulation, after decades of opposition to, unconvincingly embraced...
...market’s downward spiral reflects a larger atmosphere of worry in light of the collapse and liquidation of Lehman Brothers and the sale of Merrill Lynch to Bank of America at the beginning of the week...