Word: paradox
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...tank they can quickly get into a situation where they can no longer make good on their debts. When that happens to a single institution, it's no big deal to let it fail. But if it's happening to a lot of them at once, you get the paradox of deleveraging: a downward spiral in which failure begets more failure and retrenchment begets more retrenchment...
...avatar of the efficient European public company. There is a certain irony, Goldstein says, that it faces its death as the free-market oriented U.S. government steps in to bail out much of America's financial-services industry and China revs its own state-run economy. "There is a paradox that as the state elsewhere returns to play a prominent role in managing national economies, in Italy the state is too weak to handle this situation," says Goldstein. The Italian economy seems to suffer from the worst of both worlds: inadequate state and inadequate market. At least they...
...should government (and by extension taxpayers) even be contemplating such action? The clearest explanation is probably that of Paul McCulley, a managing director of the money-management firm PIMCo, who wrote an essay last summer on "The Paradox of Deleveraging" that continues to resonate in financial and economic circles. When a debt-fueled investment bubble bursts, financial institutions that make their living off borrowed money (banks, investment banks, hedge funds) tend to want to reduce their leverage - their ratio of debt to equity. That's perfectly rational. But when everybody does it at the same time, big trouble ensues...
...earliest call centers, among other things processing mortgages for an Australian finance company. Theroux sets up this section by noting that "in the seventeenth and eighteenth centuries, Indian labour had been exploited for its cheapness. Coolie labour was the basis of the British Raj ... Again I recognized the paradox, that India's poor were its wealth...
...narrow-minded, egotistical --and the President he serves now stands at an all-time high in prestige and acclaim. ''When you are on the inside, quite obviously you always think you are doing a better job, perhaps, than some of the outsiders may consider,'' says Regan, explaining the seeming paradox between his reputation and his results. He knows he gets paid to take it on the chin for his boss. Just last week he was lambasted for reshuffling the White House speechwriting department, easing out two of the top wordsmiths, in order to make it more to his pragmatic leanings...