Word: panic
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Dates: during 2000-2009
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...question, one of the most dramatic episodes in American financial history. A famously scrappy Wall Street investment bank, Bear Stearns, went from seemingly healthy to dead meat in about five days. Federal Reserve Chairman Ben Bernanke, desperate to avoid a sudden collapse that might cause a full-fledged market panic, invoked a little-known 1930s legal provision to engineer a Sunday fire sale of Bear Stearns to banking giant JPMorgan Chase for a mere $2 a share. (Bear's stock price was $57 a week before, $171.51 in early...
...Chase's bean counters dig through the books, and some have fingered rumor-mongering short sellers who stood to gain as the stock dropped, but for now it mainly looks like just a sudden crisis of confidence. Which could conceivably happen to anybody. "It's a good old-time panic," says Scott MacDonald, co-author of Separating Fools from Their Money: A History of American Financial Scandals and director of research at Aladdin Capital, a fixed-income investment manager in Stamford, Conn. "We haven't had one in a while...
...been widely noted that the current dovetailing of the largest initial public offering in U.S. history and a panic-fueled recession seems counterintuitive. And many observers have correctly pointed out that Visa Inc. is largely immune from the downturn in consumer spending because it reaps its profits from fees charged on each transaction, as opposed to the total amount people spend. But several other underlying factors are driving this turbocharged...
...season is hitting Hong Kong especially hard this year. Outbreaks of common influenza have blossomed all over this dense city, with some 800 cases reported in schools in the last eight days. Doctors have confirmed that two children with flu have died since February, sending parents into a panic that culminated Wednesday when the government abruptly closed all primary schools, kindergartens and day-care centers for two weeks, leaving hundreds of thousands of young children with a lot of unscheduled time and adults at a loss to figure out what to do with...
After last weekend’s heroics against Cornell, beating Brown was not supposed to be a very difficult task for the Harvard women’s basketball team. But Friday night in Providence, a poor first half placed the Crimson in a dogfight. The team did not panic. The players gathered themselves in the locker room before dominating the Bears (2-25, 1-12 Ivy) in the second half on their way to a 68-47 win that guaranteed Harvard (18-9, 11-2) at least a share of the Ivy League title. “Once...