Word: royale
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Dates: during 2000-2009
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...concerted action of Oct. 8 passed with barely a shrug from Wall Street. Stock markets worldwide continued to roil, and banks everywhere remained in the firing line. "Confidence has completely crashed, and it will take a while to rebuild it," says Craig Wright, chief economist at the Royal Bank of Canada, who is nonetheless hopeful that these and other measures will eventually start to work. "But it's hard to hear positives in a thunderstorm of gloom...
...everyone else. Overall, the IMF expects world economic growth to slow to 3% in 2009, from 5% in 2007, and it warns, "The world economy is now entering a major downturn in the face of the most dangerous shock in mature financial markets since the 1930s." Wright of the Royal Bank of Canada predicts, "The U.S. will go into a shallow recession, unfortunately followed by a shallow recovery...
European bank stocks continued to take a beating on Tuesday following a series of ad hoc steps by national governments to try to shore up confidence in financial institutions. By the day's close, Britain's troubled HBOS was down 41.5%, and the Royal Bank of Scotland's shares had lost 39% of their value; Germany's Commerzbank fell 14%, and Deutsche Bank was down 8.9%. The pummeling followed a black Monday in which stock exchanges across Europe dropped as much as 9%, suggesting that the markets were casting a doleful eye on the $700 billion U.S. bailout package passed...
...speech at the Republican National Convention, as a "full-fledged Jesus freak" with a medieval view of reproductive rights. ("She's got five kids; her daughter got knocked up. Don't these Republicans know how to pull out of anything?") And a few days ago, Maher got the royal treatment - a two-segment interview, usually awarded only to major politicians like Bill Clinton - on The Daily Show. It made for vigorous, entertaining television...
...more convincing still needs to be done. Financial stocks plunged on news of the bailouts, and Datastream's index of European bank stocks has now fallen by 45% in a year. Even shares of some of the biggest and seemingly most solid financial institutions such as Royal Bank of Scotland have been mauled. Some depositors have taken fright, too. A day after the U.K. Treasury announced the nationalization of Bradford & Bingley and the sale of its branches to Spain's Banco Santander, Kusum Patel, a 50-year-old chef from Ilford, a gritty commuter suburb 9 miles (14.5 km) northeast...