Word: mmm
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Dates: during 1990-1999
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...been slick and seductive: pervasive TV commercials that wafted visions of apartments in Paris and vacations in California, and preposterous returns of 2,000% annually with no minimum investment. With those tactics, it did not take long for 5 million Russians to pour money into the offices of the MMM investment firm, the country's biggest and best-known stock fund...
Then came the painful lesson: things too good to be true usually aren't. Last week investors learned the hard way about the old-fashioned Ponzi scheme. MMM suddenly collapsed. By week's end thousands of investors swarmed around its Moscow offices, trying to redeem their pieces of paper. Many of the shorn had come from the Moscow Commodity Exchange on the other side of town, where windows were broken before they were told to try their luck at the company headquarters instead. On Saturday that market evaporated when the company folded up shop, and shares that had dropped from...
...debacle had been building for much of the week, as crowds of concerned shareholders camped outside MMM's building, waiting, mostly in vain, for the company to redeem their certificates. Police and Interior Ministry troops stood guard to intimidate potential troublemakers. There weren't many. The few lucky enough to exchange their shares for cash stumbled out of the building, with cardboard boxes and plastic bags bulging with rubles, to shouts from the assembled crowd: "Is there any money left?" A few yelled imprecations on Prime Minister Viktor Chernomyrdin and central bank chairman Viktor Gerashenko, but many were simply philosophical...
Some parents send cookies (mmm, mmm). Others send tinsel. Some carefully mail menorahs...
...tasting a dark, vaguely fizzy ale): Mmm. Good. Do you know of anyone else with a beer collection...