Word: overnighting
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Dates: during 2000-2009
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...vital market for foreign-exchange swaps. Credit--the access to cash that keeps the U.S. and other economies oiled--was simply drying up. Banks stopped lending to other banks, out of fear they would not get the money back. Big companies were having trouble raising cash on the overnight commercial-paper markets. If left unchecked, it would be only a matter of days, maybe less, before businesses would be unable to get the cash they needed to make purchases and meet payrolls...
...asking Congress for $700 billion overnight when lawmakers have been unable for years to find funds for all sorts of other national priorities provoked a bitter and bipartisan backlash. "Paulson confused venture-capital behavior with leading a free society," says former House Speaker Newt Gingrich. "I don't know why Bernanke thinks a problem largely created by the Fed and the Treasury is something that only the Fed and the Treasury are smart enough to fix." Others went further: "It's financial socialism," Senator Jim Bunning of Kentucky told Paulson and Bernanke at a stormy Senate Banking Committee hearing...
...Sweden's financial crisis in the early 1990s stemmed from a 1985 deregulation of credit markets, which set the stage for overexpansion and bubbles in the real estate and finance markets. When those bubbles burst in the early 1990s, Sweden's currency crumbled and interest rates spiked to 500% overnight. Of the country's seven biggest banks, five needed either government bailouts or big injections of money from shareholders. The value of the country's real estate market plunged 50-60% in 18 months. "The whole Swedish banking system was off-balance," Lundgren recalls...
While Baum acknowledged that federal financial aid policy would not be reformed overnight, she said the committee was confident that their recommendations would generate discussion...
...drama of the unfulfilled desires shared by Lady Brett Ashley and Jake Barnes and understood the absurdity of Cohn’s idea of romantic love. I finished the book in two days. It’s not as though I’ve become a Hemingway fanatic overnight. I haven’t: I still hate Hemingway as a person; I still find him despicable; I still take issue with his cynical worldview. But yes, I now can admit that he is a powerful writer. I’ll no longer bash him utterly and completely—just...