Word: stock-market
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...month. Housing starts plunged by 8.2% in October, to an annual rate of 1.5 million, the lowest level in more than four years. Economists blamed steep mortgage rates, which rose from a national average of about 9% in January to nearly 12% by Black Monday, Oct. 19. Since the stock-market crash, mortgage rates have dipped to just below 11%, but that does not guarantee a quick recovery in the housing market. One reason, aside from the fact that many potential customers suffered big paper losses in the market meltdown: skittish home buyers may wait to see if a recession...
Anyone who is tired of hearing about Real Estate Mogul Donald Trump's latest megadeal or his timely escape, unscathed, from the stock-market crash may have felt a certain satisfaction last week. According to FTC: Watch, a biweekly newsletter that reports on the Federal Trade Commission, the agency has asked the Justice Department to prosecute the New York developer for illegal use of a "parking agreement." Under such an arrangement, a corporate raider employs one or more third parties, like an investment bank, to help him secretly amass shares in a takeover target in violation of federal law. Trump...
...panic that set off the Black Monday stock-market plunge has faded, but for many investors the pain remains. To help those victimized by the crash, the North American Securities Administrators Association, an organization of state regulators, has set up a toll-free hotline number (1-800-942-9022). On the line are volunteer securities examiners, who tell callers how to contact the appropriate state regulator if they seem to have been duped by an unethical broker...
...Iran-contra mess, the stock-market crash and the inability to pick a Supreme Court nominee capable of being confirmed by the Senate have threatened to add Ronald Reagan to the list of 20th century presidential failures. Reagan's earlier successes restored national confidence in the presidency. A reversal now would reduce the standing of America's institutions, at home and abroad, at a time when the country can least afford it. Is it too late for Reagan to salvage his place in history? Not necessarily...
...just run, the statement seemed gracious but a little naive. Given what is now known about Ginsburg, it was foolhardy. In the wake of his withdrawal, few were talking publicly about the long-range implications of the embarrassment. A lame-duck President who has been buffeted by scandal, a stock-market crash and the bruising defeat of his first court nominee could ill afford this latest fiasco...