Word: spirale
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...stock futures in European markets. He earned a salary of about 100,000 euros (about $147,000). In his new job, he began trading far beyond his responsibilities, racking up debts as global markets gyrated. To cover his losses, he created complex fictitious trades, until the losses appeared to spiral out of control. Said Kinner Lakhani, a London-based analyst for the Dutch bank ABN Amro, who covers Société Générale: "It was out of the realms of anyone's expectation...
...would defeat the purpose of the stimulus. Bush, for example, proposes to pump about $145 billion into the economy through tax cuts of various sorts. This is a classic Keynesian stimulus, and the whole purpose of that is to increase demand in the economy. Instead of a self-feeding spiral downward?I get laid off and can't pay my mortgage, so the bank fires you, and you don't buy a new TV, and so on?we get a self-feeding spiral upward: I take my government check and buy that new TV, Best Buy has the money...
...superlow interest rates set by the Fed, though, households plowed on, and for the first time ever, consumer spending kept rising during a recession. It continued rising afterward, much faster than incomes, with Americans paying for the difference by taking on more and more debt. That debt spiral is now unraveling, and the ensuing credit crunch could crimp spending for years...
...surviving snippets of Burrell's life as butler to the world's most famous woman include six notes that Diana had written to him, a box of holiday snapshots from trips their families had taken together, and a lavender-colored spiral notebook in which he had jotted down descriptions of people and events and that "as far as I can see, adds nothing to the inquiry," Baker said as he admitted it all into evidence. Michael Mansfield, who represents Dodi's father, Harrods owner Mohamed Al-Fayed, wasn't so sure: "It may be what it doesn't disclose...
...Nearly 50 million Americans remain without health insurance, and the cost of medical care continues to spiral...