Word: sobering
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...than three times bigger than no. 2, Japan. And with annual imports of more than $2 trillion, it is the world's shop-till-you-drop economic engine. If that engine stutters, the others grind to a halt. This is an old tale, but with a new twist to sober the Schadenfreudians: Europe's bankers and mortgage providers have been just as stupid and greedy as their American comrades-in-harm - and this in countries that pride themselves on having tamed the capitalist beast in the name of equality and social justice. So while the U.S. government...
...some critics, however, the efforts by Paulson and Bernanke look erratic and piecemeal, a constant dash from one fire to the next. And even Treasury officials are keeping a sober perspective about the effect their moves can have on a system as panicked as Americans' is. "This isn't going to be the new Treasury program that saves the world," says department spokeswoman Michele Davis. "That's not going to happen." But there is a unifying theme that explains much of what the big brains at the Fed and Treasury have been doing. And the efforts this week fit with...
...claim of having greater experience and putting "country first." By attacking Obama's "lipstick on a pig" comment, the campaign clearly established itself as willing to engage in frivolous, small-ball distractions, a disposition that served McCain poorly when he pivoted and tried to portray himself as a sober statesman willing to halt his campaign to deal with the nation's financial meltdown. Most recently, McCain rolled out an ad calling on a new spirit of bipartisanship and cooperation in the nation's capital only a day after blaming the House of Representatives' defeat of the Administration's bailout bill...
...moderating: "You should be the coolest you've ever been and the most sober in realizing this is historical and important for the democratic process and the American voters, and you are the least important part...
...sober French reaction marks how the nation has evolved towards a freer market system under European Union rules, even as it struggles to preserve parts of its vaunted welfare state. Over the past decade, millions of French citizens became first-time shareholders following a huge wave of privatizations, the bulk of them carried out in the late 1990s by a Socialist-led government. Meanwhile, once-modest executive compensation - long cited as proof of France's more egalitarian approach - has skyrocketed in recent years; in 2007 alone, pay for French top executives soared by an estimated 58%, according to the French...