Word: made
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...fall of the Berlin Wall, when prevailing orthodoxy held that the free market could govern itself, and when financial regulation seemed destined for near irrelevancy, the United States was compelled to socialize lending and mortgage risk, and even the ownership of banks, on a scale that would have made Lenin smile...
...ideal when Angelo Mozilo, a co-founder of Countrywide, says in a speech in 2003, "Expanding the American dream of homeownership must continue to be our mission, not solely for the purpose of benefiting corporate America, but more importantly, to make our country a better place." Countrywide and others made mortgages available to anyone with a pulse, aided and abetted by Wall Street, which created the market for exotic mortgage derivatives. By 2008, "banks and investors had plied the average American with mortgage debt on such speculative and unthinking terms that not just America's economy but the world...
Roger Lowenstein on former Fed Chairman Alan Greenspan: "Greenspan's was a Rousseauean vision of markets as untainted social organisms--evolved, as it were, from a state of nature. (It overlooked the obvious point that markets were also human constructs--made...
...last year, Motorola emerged as one of the largest shippers of smart phones. That's largely due to Droid, its newest offering for Verizon Wireless. Motorola has also made headway with Cliq, its T-Mobile phone, and early in March it launched BackFlip, the first Android phone for AT&T. About 40% of wireless customers now use smart phones, according to Web research firm Crowd Science, and that portion is growing rapidly. To complement Android, Motorola developed Motoblur, one of the first user interfaces to unite social-networking tools such as Facebook, Twitter and MySpace. "We fundamentally changed our focus...
...student of longtime Los Angeles high school teacher Jaime Escalante's, now a teacher herself, called her former instructor "a master artist." Indeed, it was his refusal to accept commonly held beliefs that made his work so beautiful. Unlike many others, he refused to tolerate the notion that inner-city students were incapable of learning. Escalante, whose inspirational story was the basis for the 1988 film Stand and Deliver, died March 30 at 79 after a years-long battle with bladder cancer. Upon arriving in the U.S. from Bolivia, Escalante studied English at night to earn his California teaching credentials...