Word: staving
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Dates: during 2000-2009
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...better way to view the Frannie takeover is as an attempt to prevent the housing bust from getting dramatically worse and to stave off financial collapse. The companies' combined share of new mortgages rose as high as 80% earlier this year as other lenders retrenched. The percentage has dropped somewhat since, says FHFA Director James Lockhart, but if either Fannie or Freddie had to stop buying mortgages, rates would clearly skyrocket. If either firm actually defaulted on its debts or MBS guarantees, the consequences might be catastrophic. Why's that? Read...
...confronted widening opposition at home, Musharraf faced a key challenge emanating from overseas when his term ended last November. Washington appeared to have negotiated a compromise political deal in which Musharraf would share power with Benazir Bhutto, in an alliance that the U.S. hoped would stave off domestic opposition and strengthen Musharraf's ability to confront radicalism. But the deal floundered even before Bhutto's assassination last December. The general, once a symbol of the power of the military, had begun to believe that he was indispensable, and had moved to ride roughshod over all constitutional and legal challenges...
Faced with a combination of falling sales, an increasingly unstable U.S. economy and rising gasoline prices, General Motors Corp. has unleashed another huge wave of budget and financial cuts that the company's top executives described as a "self-help" plan designed to stave off any potential "liquidity crisis." The cutbacks appear to involve every level of GM's operations, including shedding the Hummer and decreasing its support for NASCAR. Said GM's chairman and chief executive officer Richard Wagoner: "Conditions are extremely unsettled. We're trying to protect the enterprise long-term. We're going to have to ride...
...Inflation When Jean-Claude Trichet, the president of the European Central Bank (ECB), announced a 0.25 percentage point increase in Europe's key lending rate on July 3, he contended that it was critical to stave off the so-called secondary effects of inflation and "to neutralize the growing risks to price stability." In plain English, that means he's worried about an inflationary spiral in which manufacturers of industrial and consumer goods raise prices to compensate for higher costs - and workers demand hefty pay increases so they can afford the rising cost of their household purchases. The risk...
...light of today's ruling, he sees only a 1% chance that the AKP might scrape through its upcoming court case. "Even if you don't agree with a court verdict, you should still be able to respect its legality. But the establishment is so busy trying to stave off what it sees as the imminent danger of political Islam, it isn't calculating the longer-term damage to our soul...