Word: panic
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Dates: during 2000-2009
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What Americans are fast learning is what the market pros knew all along - the bailout bill may turn out to be a pill that dulls the pain, only to leave deeper global economic wounds festering. "We're in the midst of a panic," says James Angel, professor of finance at Georgetown's McDonough School of Business. Angel, who teaches a course on financial crisis, says that even the injection of federal dollars may not convince banks to shed their fears. "If banks go from being too reckless to being too conservative, there may be general starvation for the economy...
...European response to its banking crisis has also raised concerns. Investors were clearly worried that even if a global financial meltdown is averted, a broad recession may be inevitable. And so, as governments attend to one crisis, the markets discover another to fret about - and the cycle of panic continues...
...With a month left, McCain still has time to reverse the recent trend and make election night a nail biter. It was only a few weeks ago, after all, that it was McCain who had soared in national polls and Obama who was dealing with panic in his party. But McCain's campaign is now stuck playing defense. Over the weekend, his running mate, Sarah Palin, held a rally in Nebraska, a traditionally safe Republican state, but one where electoral votes are distributed by congressional district; Obama hopes to steal one such vote in the more liberal Omaha area...
...That flurry of action only served to heighten the panic across Europe, along with concerns that the European finance and banking sector may be as imperiled as that of the U.S., despite repeated assurances to the contrary from E.U. leaders. Indeed, the moves to guarantee private savings accounts seemed to spook market watchers into believing far worse was yet to come for Europe...
...Calls Himself a Potted Plant. I used to tell people I was voting for Mike Huckabee because his weight-loss story was an inspiration to us all. Sarah Palin, nearly as cute and every bit as socially conservative, now inspires only disbelief and a vague sense of panic...