Word: stanley
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Dates: during 2000-2009
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...Chairman Alan Greenspan and company have chopped the benchmark federal funds rate 11 times this year, to 1.75%. In the last recession, the rate fell only to 3%. "This is unlike anything we've seen in the postwar period," says economist Stephen Roach at Morgan Stanley. Recessions that spring from manic business overbuilding, such as this one, were more common before World War II and proved then to be far more difficult to correct, lasting on average about twice as long as recessions caused by Fed rate hikes, Roach notes...
...Essayist Stanley Crouch is the author of the novel Don't the Moon Look Lonesome
...course, not all junk-bond funds are created equal. Those heavily concentrated in telecommunications bonds have been beaten up the worst. Examples include the 26% slide so far this year in the Morgan Stanley High Yield Fund and the 19% drop in the Invesco High Yield Fund--at a time when the junk-fund benchmark is up modestly. Scott Berry, an analyst at Morningstar, advises staying away from such funds because most telecom bonds will remain depressed. Two of his favorite funds are Northeast Investors Trust and Pimco High Yield, which have shied away from telecom bonds and, in Pimco...
...difficult to transfer to film. What director Chris Columbus has done for moviegoers is to capture characters in an intriguing plot, rich with detail, and give these characters a sense of magic. I have only praise for Rowling and Columbus for entertaining all ages and all intellects. CINDY CAMPBELL Stanley, Kans...
...STANLEY O'NEAL He grew up poor in rural Alabama. Now he is president of MERRILL LYNCH and within three years is expected to become the first African-American CEO of a major Wall Street firm. O'Neal, 50, is already leading a culture change at Merrill by putting profits ahead of old relationships. He has scaled back in Japan (a move others have copied) and is shifting brokers' focus from Main Street to clients with at least $1 million to invest...