Word: shorted
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Early on, the majority of people seemed to heap the most blame on barely regulated financial products, like credit-default swaps, which brought down AIG; mortgage brokers and their lax lending standards; and Wall Street bonus checks that rewarded short-term profits over prudent business decisions. Goldman Sachs, too, has come under intense scrutiny since the financial crisis, in part because of its ability to quickly turn around and seemingly profit from the mess...
...German economy contracted 5% overall. Critics said she was doing too little, too slowly and that her efforts were targeted at the wrong industries. She argues that her response has been vindicated. The German economy began to rebound in the second half of 2009, and helped by an aggressive "short time" work program, its unemployment rate has steadily declined to 7.5%, compared with 10% in the U.S. No economy is free from the threat of backsliding yet, however, and the head of Germany's federal labor agency has predicted joblessness will rise again this year. But as world trade picks...
...last time Harvard issued debt was in December 2008, at the height of the global financial crisis, when it borrowed $2.5 billion to raise cash, refinance risky short-term debt, and terminate certain investment agreements. The move drew heavy media attention and criticism, with a Forbes cover story suggesting that Harvard was in a "cash-raising panic...
...ground. Despite objections from China about selling arms to Taiwan, the U.S. awarded Lockheed Martin Corp the contract to provide Patriot missile systems as part of a $6.5 billion arms sale package to Taiwan passed by the US Congress in 2008. The U.S. missile systems could shoot down Chinese short-range and mid-range missiles. China has over 1000 missiles pointed at Taiwan, a democratic island China claims...
...visiting assistant law professor at Pennsylvania State University's Dickinson School of Law and a former adviser to military prosecutors at Guantánamo Bay, however, argues that the two options are not mutually exclusive. The Administration could have designated Abdulmutallab as an enemy combatant for a very short duration to allow for his interrogation, and then moved the case back to federal court, which he believes is the proper place for such a trial...