Word: rejectionism
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Dates: during 2000-2009
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Wall Street didn't sell out America; easy mortgages, no-money-down plasma TVs, trade and budget deficits all existed prior to collateralized debt obligations. The reality is that the entire U.S. economy has been one big fractional-reserve Ponzi scheme for the past 25 years, with bubble after bubble...
Congress's initial rejection of the Bush Administration's $700 billion bailout plan calls to mind an unhappy precedent. Back in 1930, the Senate passed the Smoot-Hawley Tariff Act, which raised duties on some 20,000 imported goods. Historians define this as one of the critical steps that led...
On Sept. 29 of this year, as investors and traders reacted to Congress's rejection of the bailout plan presented by Treasury Secretary Hank Paulson, the stock market sell-off was dramatic: the Dow fell nearly 7% that day, a one-day drop that has been matched only 17 times...
As the academic year continues, we are yet again beseeched by the UC to contribute $75 to the Student Life Fund. Problem number one: The Student Life Fund no longer funds student life (Thanks Pilbeam!). Problem number two: Now you have to send in a hand written letter in order...
It could have been worse. That was the preliminary judgment in foreign markets as indices in Asia and Europe posted moderate declines - and in some cases modest growth - on Tuesday. Although Congress's rejection of the $700 bailout plan engendered some jitters on markets around the world when they opened...