Word: recordability
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From this anti-Depression policy has come a stream of costly policy errors that could ultimately prolong the current recession. The Fed's Dec. 16 decision to drop the target federal-funds rate to a record low of 0% to 0.25% is but the most recent of these. With rates already effectively trading near zero despite the Fed's previous target of 1%, the decision does not actually change rates and only sends a negative message about the state of the economy. That worsens confidence. And now the target rate has nowhere else to go, so the Fed will have...
...assets disintegrated. Our current policies would have been appropriate in the Great Depression, but they are not appropriate now. Liquidity problems are not the source of our current financial and economic woes. Incredibly, excess reserves of depository institutions have increased from under $2 billion in August to a record $774 billion in mid-December, according to the Federal Reserve's Dec. 18 release. But the banks have not taken advantage of this liquidity to increase their lending. (See pictures of the stock-market crash...
...eating out," says Peters. "Easy money with the help of the courts is bound to attract opportunists." Peters adds that a surprisingly large number of suits are filed by individuals with significant prior criminal history. "It's hard enough to get a job if you have a criminal record. It's probably harder if you have one and are in a wheelchair. These lawsuits offer an unbelievable amount of money...
Perhaps unsurprisingly, Molski's attorney, Thomas Frankovich, says his client and the dozen or so serial ADA plaintiffs his firm has represented are activists and crusaders. Frankovich dubbed Molski (who does not have a criminal record) "the sheriff" because "he started going into town to clean it up." Frankovich says he has filed 223 ADA lawsuits on behalf of Molski. (Molski used other attorneys to file his other suits.) Frankovich says Molski began suing only after his letters to offending businesses were ignored. (Molski was out of the country and couldn't be reached for comment.) Says Frankovich: "Letters...
...Yeah, I'll tell ya what, I hope Detroit wins," he says. "We would like to keep our record, us Buc guys. If they don't win, they're going to forget about us." While members of the '72 Miami Dolphins, who finished 17-0, arrogantly sip champagne each year when the last undefeated team drops a game (as the New England Patriots did in losing to the Giants in the Super Bowl in February), Spurrier breaks open a cold beer with an assistant coach when the last "defeated" team finally gets a win. "Plus, I've gotten plenty...