Word: panic
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Dates: during 2000-2009
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...venerable British mortgage lender Bradford & Bingley; and Germany's Hypo Real Estate, which has a massive $560 billion balance sheet and is a big player in the domestic securities market. As the governments stepped in, the message they sent to the public was supposed to be reassuring: Don't panic - your money is safe. Most European nations have some sort of deposit insurance that would reimburse account holders, at least up to a point, in the event of a default - although by their rescue actions the authorities sought to make it clear that it wouldn't come to that...
...Paulson did not use those words when he went on TV a few days later - probably because he was afraid of provoking widespread financial panic. But that risk needs to be weighed against the risk that no one will panic...
Biehl wrote that her concerned eighth-grader asked, "We don't have any stocks, do we, Mom?" She said she soft-pedaled any concerns about his college fund to stop the panic. Biehl, whose parents filed for bankruptcy when she herself was in college, wrote: "I briefly explained that it's all cyclical." Still, on the Monday of the vote and subsequent market crash, Biehl took a look at her 401(k) and discovered she had lost $6,300. "But then I thought, I have still doubled my money since I first started investing and - as I wrote...
...foreclosure rates in California, and unemployment is high. I think their feeling is, Why should you be bailing out Wall Street when we know people who can't afford junior college tuition? They see the Wall Street giants as extremely rich people very different from them." Stark evinces no panic when told the markets may tumble further. "The sky isn't falling," he says...
...there are many reasons mass-market business reporters might not answer this question of degree. Maybe nobody really knows. (In which case, they have an obligation to say unambiguously: nobody really knows.) Maybe they fear creating a panic, and at the same time fear not having anticipated a disaster if it happens, so they cover all bases, leaving their audience confused in the process...