Word: nationalism
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...scariest thing to average folk: one of the nation's biggest money-market mutual funds, the Reserve Primary, announced that it's going to give investors less than 100 cent on each dollar invested because it got stuck with Lehman securities it now considers worthless. If you can't trust your money fund, what can you trust? To use a technical term to describe this turmoil: yechhh...
...Root of the Problems Warren Buffett, the nation's most successful investor, back in 2003 called these derivatives - which it turned out almost no one understood - "weapons of financial mass destruction." But what did he know? He was a 70-something alarmist fuddy-duddy who had cried wolf for years. No reason to worry about wolves until you hear them howling at your door, right...
...orchestrate the Sept. 7 government takeover of mortgage institutions Fannie Mae and Freddie Mac and the $85 billion bailout of insurance giant American International Group (AIG) on Sept. 16. By the close of business two days later, he was reportedly looking to find a long-term solution to the nation's ongoing credit crisis, buoying markets on rumors that the Treasury would create some sort of government agency to absorb banks' bad debts...
When network executives began organizing the nation's first-ever televised presidential debate in 1960, a pre-debate debate between Richard Nixon and John F. Kennedy began almost immediately. The candidates haggled over format, location, even dressing rooms, but in the end, the medium trumped the message. Sick with the flu and hobbled by a knee injury, Nixon looked pale and sweaty--an image that stuck with viewers far longer than his words...
Israeli Foreign Minister Tzipi Livni is one step closer to becoming the nation's first female prime minister since Golda Meir. The current prime minister, Ehud Olmert, has decided to resign following corruption allegations involving more than $150,000 in payments from a New York businessman. Livni, 50, has served in Israel's legislature, the Knesset, for less than a decade, but was effectively put on the path to the nation's highest office after claiming victory in Tuesday's primary...