Word: redeemed
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Dates: during 1990-1999
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Then came the painful lesson: things too good to be true usually aren't. Last week investors learned the hard way about the old-fashioned Ponzi scheme. MMM suddenly collapsed. By week's end thousands of investors swarmed around its Moscow offices, trying to redeem their pieces of paper. Many of the shorn had come from the Moscow Commodity Exchange on the other side of town, where windows were broken before they were told to try their luck at the company headquarters instead. On Saturday that market evaporated when the company folded up shop, and shares that had dropped from...
...debacle had been building for much of the week, as crowds of concerned shareholders camped outside MMM's building, waiting, mostly in vain, for the company to redeem their certificates. Police and Interior Ministry troops stood guard to intimidate potential troublemakers. There weren't many. The few lucky enough to exchange their shares for cash stumbled out of the building, with cardboard boxes and plastic bags bulging with rubles, to shouts from the assembled crowd: "Is there any money left?" A few yelled imprecations on Prime Minister Viktor Chernomyrdin and central bank chairman Viktor Gerashenko, but many were simply philosophical...
...Kidder, Peabody & Co. head Michael Carpenter was replaced by two GE executives as parent company General Electric tried to redeem the securities firm's stained image. The management shake-up followed a bond scandal in which a Kidder trader was accused of misreporting $350 million to bolster his bonus, as well as a projected second-quarter loss of up to $30 million...
When the Clinton Administration had quietly encouraged limited strikes on the Gorazde perimeter earlier in the week, it had several aims in mind. It was trying to rob the Serbs of another battlefield victory, inject new life into stalled peace negotiations and redeem its own recent bumbling performance, when senior officials publicly contradicted each other about the prospect of air strikes. While the bombings were technically NATO operations in response to a request to protect U.N. peacekeeping troops, in practice the attacks were a U.S. experiment: an attempt to use limited military force to end the fighting in Bosnia...
...rest is more ordinary. Rigg is wonderful in quiet moments but awkward in striving for the unchained melodrama that Zoe Caldwell achieved in a 1982 revival. The balance of the cast, also from London, is workmanlike, save for Nuala Willis, whose keening songs redeem that most archaic of theatrical ploys, the chorus. The set, a vast wall of rusted metal panels that bang like thunder and tumble away at key moments, is effective but excessive, a tacit confession of shaky faith in the power of the play's words. That doubt is foolish. Medea is the greatest role ever written...