Word: reaction
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Dates: during 2000-2009
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...textbook crisis management, similar to Johnson & Johnson's famously forthright and successful reaction to the Tylenol tampering scare of 1982. So far, so good. But while Johnson & Johnson was soon able to restore Tylenol's lost market share, the U.S. faces a different challenge...
Then there is the debt that set off this crisis: mortgage debt. Overly easy mortgage borrowing financed the house-price bubble. The bursting of that bubble set off the chain reaction of financial implosions that we are experiencing at the moment. Yet you rarely hear politicians calling it a bubble. In fact, constantly rising real estate prices seems to be regarded as some kind of natural right, or at least a natural state to which we must return as soon as possible. Getting prices "moving again"--which means moving higher--is one all-but-explicit goal of the Paulson bailout...
...stunned-silent congressional leaders: a stock-market crash, businesses going under, unemployment soaring, consumers unable to get so much as a car loan, banks failing so fast that they would quickly drain the federal deposit insurance fund--and with it, countless people's life savings. And unlike the chain reaction that came over the course of weeks and months in 1929, this one would happen in a matter of days, if not faster. "The chain reaction," said Paulson, "is quicker than in the past...
...only after the Georgian offensive that Russia intervened. And while Russia’s response was disproportionate, one would be hard pressed to argue that Georgia did not know that their actions would provoke a Russian reaction. As James Traub wrote in The New York Times, Georgia’s Columbia-educated, Western-backed president Mikheil Saakashvili “has played a dangerous game of baiting the Russian bear.” It seems that Mr. Saakashvilli not only may have led his now devastated country into an avoidable war, but also sparked a shift in American political discourse...
...react quickly enough to deal with the modern world and the rapidly changing- saying it another way, there's so much complexity, actually over-complexity, in the financial system and the speed with which money and information moves has increased. And so when these events, the chain reaction surrounding these events is quicker than in the past...