Word: scandalizer
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Still, there's no denying that a sharp rise in rates would pose problems for the housing market, as would continued job cutting in an economy that is failing to pick up steam or, possibly, a deeper scandal at embattled mortgage firm Freddie Mac. Here are three ways to prepare for a bust...
COMPANY: News that ImClone's cancer drug is back on track has boosted the stock--but it's worth only half what it was pre-scandal...
...cooperate with the internal probe and at one point ripped pages out of a diary. The Justice Department and the Securities and Exchange Commission are also investigating the company's finances. The stakes couldn't be higher. Freddie Mac holds or insures mortgages totaling $1.3 trillion. Any lasting scandal could drive up its borrowing costs and lead to higher mortgage rates--slowing a housing market that for three years has been the economy's main driver. --By Daniel Kadlec and Adam Zagorin
...then chief of staff; of cancer; in Williamsburg, Va. The burly exMarine spent 35 years at Merrill Lynch before joining the Reagan team, where he was a prime mover behind the landmark 1986 tax reforms. When he became chief of staff, he ran into trouble; the Iran-contra scandal blew up on his watch, and he tangled with the First Lady, who helped speed his ouster after a year. He retaliated with a memoir, For the Record, that disclosed Nancy's reliance on an astrologer for advice, which she gave her beloved "Ronnie." Mrs. Reagan later responded with...
...closure of the Beijing New Times newspaper after it ran an article criticizing China's congress. The department also forbade coverage of other sensitive topics, including Jiang Yanyong, the doctor who exposed the government's cover-up of the SARS epidemic; separatist movements in Tibet and Xinjiang; the financial scandal swirling around Shanghai tycoon Zhou Zhengyi, and avian flu, which has broken out twice in China in the past five years and can kill humans...