Word: messing
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This basic error, born of folly, ignorance and greed, is the biggest cause of the mess we are now in. It was compounded by other factors. A system of remunerating bankers with fat bonuses based on the volume of business done, irrespective of the quality and future profitability of that business, did not help. A variation of Gresham's Law was also at play, with imprudent lending driving out prudent lending. This tends to occur as responsible institutions see their market share fall while those of irresponsible institutions rise, and decide to emulate the reckless practices they previously eschewed...
...voting against the bill. His Austin district office had been bombarded with e-mails and phone calls in opposition to the bill. Most Texans don't see any real signs of an economic slowdown and believe that the bailout is a way of helping the scoundrels who created the mess in the first place...
...Willoughby who tried to do something cute and it blew up in his or her face, they would be stuck with a bankrupt company. On the other hand, we have companies here, Steris, Lincoln Electric, Lubrizol - just the three of them employ 2,400 people. When will this mess trickle down and affect those companies, and start affecting moms and dads whose kids are trying to go to college or get a car loan...
Some locals point their finger at Republicans for bringing the country to the brink. "I have to believe that if nothing has happened by Thursday, the market will tank," says Phil Solari, a Marietta resident and registered Democrat. Republicans, he says, "created this mess, and they're now incapable of getting their own people behind the President to vote for this bill. They either didn't understand what it meant to the average person on the street or they didn't care." - By Paige Bowers / Atlanta...
...point of unanimity: the economic crisis will have profound political repercussions on both sides of the Atlantic, but it's hard to anticipate exactly what these will be. Certainly it's unclear whether voters in either country will take revenge on incumbent parties for their part in the mess or will shy away from younger challengers, preferring to put their trust in political veterans. It's the second scenario that Ed Cox, who heads up McCain's campaign in New York, told delegates in Birmingham he expects will give his candidate the edge. "This is a time for experience...