Word: meltdown
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...these laws are under fire, cited by critics - mostly but not exclusively on the political left - as major precipitating causes of the financial meltdown. And while both were signed into law by Bill Clinton, Gramm has taken the most heat. (It hasn't helped that, since leaving the Senate in 2002, he's been working for Swiss banking giant UBS, which has sustained huge losses on bad mortgage securities and derivatives...
...Market sentiment during the last few Years of the Ox has, in fact, been more bearish than bovine. In 1997, Asia suffered a financial meltdown, while in 1973 the world was ravaged by oil shocks. Year of the Ox almanacs sold in Shanghai subways counsel patience and hard work in order to overcome 2009's potential market woes. Both virtues are considered attributes of those people born under its symbol. In fact, one of the leaders on whom the fate of the global financial system may well depend was born in a Year of the Ox: Barack Obama...
...already achieved notoriety months before the arrest, was in the government's sights as early as September and October after his blogposts predicted the fall of U.S investment bank Lehman Brothers as well as the won's decline. Minerva had become such a sensation during the global financial meltdown that Korea's Minister of Strategy and Finance, Kang Man Soo, weighed in, saying he hoped to furnish the blogger with more economic facts so he would trust the government. (See 10 things to do in Seoul...
That's no longer the case. American-style capitalism no longer looks as dominant now that Wall Street has blown up. The financial meltdown also means that for the foreseeable future, the U.S. and its European allies will have less money to offer countries they want to influence. There's a lot in Obama's history and rhetoric to suggest he'd love a Marshall Plan--style effort to fight poverty and terrorism in failing states like Pakistan and Yemen. But finding the money is going to be much harder today than it was a few years back. And putting...
Bali, whose mythic resorts have been struggling to fill their beachside villas during the global financial meltdown, has been hit by another unexpected crisis this month: rabies. The death toll from an outbreak on the island of 3.1 million people rose to six on Monday, adding to the woes already faced by the Indonesian province after the downturn in the world's economy...