Word: shockingly
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...Persia House, which monitors Iranian developments. "They support the Islamic revolution because it has been good to them, but they are not raving fanatics." Says Hillary Mann Leverett, a former director of Iran and Afghanistan affairs in George W. Bush's National Security Council: "These people are not just shock troops for the regime. They are a much more sophisticated organization...
...risk bonds such as Treasuries and government-guaranteed mortgage securities - may have created a situation in which most of today's bond investors are bound to lose money. Not 50% losses, as in the stock market, but losses nonetheless. Which for many newcomers to bonds will be a big shock...
...Future Shock...
...advocated radical measures to rein in banks, including regulating their operations so heavily that they would turn into low-risk utilities. No, said Jean-Claude Trichet, the president of the European Central Bank, that wouldn't solve the problem. What's needed, he argued, "are air bags, cushions and shock absorbers." Trichet has now detailed what he means. On Sept. 6, a group of central-bank governors and regulators from 27 countries that is chaired by Trichet published specific proposals that he said would "set new standards for banking supervision and regulation at a global level...
Mission accomplished--so far, at least. In the face of a financial shock probably worse than the stock-market crash of 1929, massive government intervention averted a second Great Depression. Yes, we still got the worst economic downturn the U.S. has seen since. But while there are surely lots of potholes and wrong turns ahead, the economy--both in the U.S. and worldwide--appears to be in the early stages of a rebound. We have decisions made by government officials to thank for that...