Word: poore
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...Despite the public's justifiably poor opinion of many of the actors that inhabit the financial sector, spreading the blame will only hasten the economy's decline. In order for the economy to recover, the market must recover. And in order for the market to recover, America's antipathy toward the financial system must pass. (See pictures of the Top 10 scared traders...
...stock market was too low at the beginning of the month because it had all of the bad news of the next two years priced into it. That is, at least, what the current buyers are saying. All of the high unemployment and poor corporate numbers had been taken into account at the bottom. Under almost any set of circumstances, history would support this analysis. A recession lasts four quarters and then turns into a recovery. (See pictures of TIME's Wall Street covers...
...ratings agencies themselves - Moody's, Standard & Poor's and Fitch - have nowhere to hide. Their CEOs took a royal lashing from Congress in October, and in April new regulations will go into effect, largely to address what is often painted as the Achilles heel of the ratings system: companies typically pay to have their own debt rated, therefore creating a massive conflict of interest for the ratings agencies, which want to hold onto that business. (See "How to Know When the Economy Is Turning Up".) Favorably rating structured finance products - including Frankenstein creations like synthetic collateralized debt obligations - became...
...unhappier scenario, the Nano ends up not as a tool to empower the rural poor but as another urban burden. If middle-class mobility comes to millions of people in the developing world, their shiny new Nanos could greatly add to traffic congestion and air pollution in major cities. Tata doesn't see it that way, calling complaints about the potential environmental impact of widespread Nano adoption "somewhat ironic." "It's almost like a car is O.K. for some people, but don't spread it to the larger base of the population," he says. "Why are we denying the masses...
...incumbents and eventually jailed on trumped-up charges. One man was so harassed that he committed suicide. This doesn't sound like a heartwarming tale of democracy's triumph. But what has evolved in these villages - despite all the injustice - is a dawning sense that people, even poor people, have rights. In societies cowering under oppression, such a realization is revolutionary...