Word: reals
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Dates: during 2000-2009
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...Real Bailout Some bankers now have the attitude of, What's the problem? The crisis is over. Get out of our way and let us get back to business. This is especially true of those who don't owe the government any money. The conventional thinking is that the $700 billion of Troubled Asset Relief Program (TARP) money was the beginning and will be the end of the bailout. TARP lent $238 billion to more than 680 banks, according to SNL Financial, a research firm; 44 of these banks have repaid a total of $71 billion. Thus, there's less...
...real bailout wasn't TARP. It was lending and guarantee programs from the Fed and the Federal Deposit Insurance Corp. The Fed had a mere three borrowing programs before the crisis started in the summer of 2007, when two Bear Stearns hedge funds failed. At the height of the bailout, there were no fewer than 13 programs. The New York Fed had to post them on its website sideways, using teensy-weensy type, so they would print out on a single sheet of paper...
...what's to be done? In general, the Federal Government has been too passive about fixing the real problems, not too activist. That said, here are a few rules of the road for Wall Street and Main Street: (See which businesses are bucking the recession...
...your faith in Wall Street. Never, ever. Left to its own devices, the Street will go to excess, as we've seen from two bubbles (tech stocks and houses) that have burst within the past decade and two more that are in the process of popping: commercial real estate and leveraged buyouts. Even though there are plenty of decent people on Wall Street, the Street's primary interest is its own well-being, not yours. Don't forget that. You'd better take care of yourself, because there's no one else...
...essay “The Argentine Writer and Tradition.” In what is perhaps the greatest (the only?) assault on the dromedary in prose, Borges goes on to deride the animal as an outrageously artificial exoticism, the employ of those lacking both imagination and a real understanding of their own culture. After all, the most authentically Arab work of all manages to do without: “In the Koran, there are no camels.”The illustrious Buenos Aires author was a little off: The Koran actually does allude to camels twice, in passages...