Word: meltdown
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Dates: during 2000-2009
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Frenk, who is a former minister of health of Mexico, referred to the 1995 financial meltdown in Mexico as an example of how change could occur in a time of crisis...
Over the past 30 years, the way we save for retirement has come to be dominated by one plan: the 401(k). But the financial crisis and resulting market meltdown showed the 401(k) to be far from perfect. A number of academics and others have proposed either changes to the 401(k) system or scrapping it altogether. Roger Ferguson Jr., chief executive of the investment firm TIAA-CREF, is one of the few financial executives who have backed changing the system. Ferguson's opinion is sure to have some sway. He is a former vice chairman of the Federal...
...worst economic crisis in memory could still put the brakes on the world's fastest-growing economies. So warns economist and Morgan Stanley Asia chairman Stephen Roach in his new book, The Next Asia, a collection of his essays and analysis from the past several years that foreshadowed the meltdown. The following is an exclusive excerpt from the book's introduction...
...compared with the projections, the difference was sobering. The average 55-to-64-year-old should have a 401(k) balance of $320,000. In fact, at the end of 2007, the average 401(k) of a near retiree held just $78,000 - and that was before the market meltdown...
...Creating the Modern Financial System,” a course taught by Professor David A. Moss, debuted in the Spring of 2008 just as the sub-prime mortgage crisis was evolving into a larger economic meltdown...