Word: sectoral
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...Banks and other financial institutions are in an even worse position: their debts are accumulating even faster. By 2007 the financial sector's debt was equivalent to 116% of GDP, compared with a mere 21% in 1980. And the assets the banks loaded up on have fallen even further in value than the average home - by as much as 55% in the case of BBB-rated mortgage-backed securities...
...budding financiers have an easy response to people like Kenneth S. Rogoff, the distinguished Harvard economist and former International Monetary Fund official who garnered applause at the expert panel on the financial crisis last week by saying that the “bloated” financial sector has been in need of a correction and that Harvard students would do well to “go into other activities...
Just as the House of Representatives was split on the wisdom of the $700 billion bailout bill, so too are Harvard’s economists, who have left their Ivory Tower perches to weigh in on a plan that would mark an unprecedented government intervention in the financial sector...
...coalition of 114 organizations called ServiceNation to promote voluntary national and community service. Robinson uses a series of “straw-men,” challenging the legality of national service as well as the intent of those who desire to strengthen and grow the service sector. Unfortunately, Robinson recycles many tired and specious arguments. Robinson suggests that we already have enough volunteering available in America. How then can you explain the fact that there are more than 3 applicants for every available AmeriCorps slot, or that Teach For America had 24,718 applicants for 3,700 positions...
...worst-case scenario, economic historians may find that all of Paulson's predictions come true, leaving the cost to the Federal Government far greater than the risky $700 billion investment in the private sector. If this comes to pass, the historians will find many people to blame: Paulson and President Bush for failing to explain the plan better. The House leadership for failing to whip enough votes. Even the presidential candidates for failing to use their bully pulpit to force the issue...