Word: sided
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...Limits of Prudence Orman's personal story is an important part of the product she's selling. She grew up in a modest household on the South Side of Chicago, where her father ran a deli. She dropped out of the University of Illinois (she later finished her degree) and spent six years waitressing in Berkeley, Calif. After losing $50,000 she had been lent to a stockbroker at Merrill Lynch, she became a Merrill broker herself. She launched her own financial-planning company in 1987 and then wrote her first book, You've Earned It, Don't Lose...
...least for not making it the core of her message. But if some analysts question the soundness of Orman's advice, especially given today's extreme financial conditions, few of her fans do, in part because she sounds so convincing when she says she's on their side. When asked whether she could have done more to warn people about the real estate, stock-market and credit bubbles of the past few years, Orman said, "I did everything I could...
...past weeks and months, governments around the world have been attempting to fight the economic crisis with monetary and fiscal measures. On the monetary side, even prudish authorities like the European Central Bank have joined the U.S. Federal Reserve and the Bank of England in slashing interest rates to create incentives for lending and borrowing. Amidst what started as a credit crunch, this was an essential step toward keeping economies afloat when trust suddenly evaporated not only for risky assets, but also for credit-worthy corporations...
...fiscal side, most countries are rushing to pass stimulus bills to prevent the phantom of deflation from materializing itself: From developed countries like Germany to developing nations such as India and China, everyone seems to be doing it. By far the most publicized attempt has been President Obama’s euphemistically named American Recovery and Reinvestment Act, which flew through Congress a couple of weeks ago. But in measures like these hides perhaps the most pervasive economic threat to future global stability and prosperity: economic nationalism...
...Totò, the boy who hides a gun and bag of drugs during a police raid and is rewarded with initiation into a local gang, only to be sucked into the violence of neighborhood gang warfare. Franco is a waste management official who oversees the Camorra’s side business of illegally dumping toxic waste, poisoning the local farmland. And there’s Pasquale, the tailor who incurs the wrath of the Camorra when he helps a Chinese clothing sweatshop owner competing with mafia business. In the vein of “21 Grams?...