Word: panics
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...Paulson's lesson is that there is always more money. That is true at least in a panic when the Congress and Administration have convinced themselves, perhaps appropriately, that pushing huge amounts of capital into the economy is the only way to halt the recession...
...signs of a real panic is that the people in the midst of it to some extent lose their minds. They are robbed of their ability to reason and see things clearly. They lose the compass they may have had. Even the analytic ability of "experts" is compromised, so the spreads among forecasts get very broad as things get worse. It might be of some comfort that all analysts think that 555 banks will fail in the next 24 months. Instead, some put the number at 200 and others at 1,400. The facts at the center of the analytic...
...provide thousands of fatal doses. Police were baffled - the pills came from different production plants and were sold in different drug stores around the Chicago area. Their conclusion was that someone was most likely tampering with the drug on the store shelves. The deaths set off a nationwide panic, as stores rushed to remove Tylenol from their shelves and worried consumers overwhelmed hospitals and poison control hotlines. Chicago police went through the streets with loudspeakers, warning residents of the dangers of taking Tylenol. Johnson & Johnson, the drug's manufacturer, spent millions of dollars recalling the pills from stores...
...dozen lawmakers, including Lopez, aboard a bus and drove them into the mountains. But the operation ended up in one of the ghastliest blunders of Colombia's four-decade-long civil war. In June 2007, guerrilla guards mistakenly thought they were under attack by the army and, in a panic, executed 11 of the hostages. Lopez alone survived the massacre because he was being held in solitary confinement in another part of the rebel camp...
...Treasury Department, in its panic over the collapse of banks on Wall Street, rushed to get TARP out the door - no doubt about it. The government didn't require banks to keep track of the money, report how they were spending it or loan it out to free up credit markets. But it's not all bad news. The fact that the special inspector general's office exists is an important sign that the Treasury Department realized the limits of its abilities. Recent and future TARP outlays have a whole new set of stringent reporting requirements. The inspector general...