Word: tailspinning
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Dates: during 2000-2009
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...bankruptcy in history, the government takeover of mortgage giants Fannie Mae and Freddie Mac, and the largest government bailout to date—an $85 billion loan to the American Insurance Group, Inc., a global insurance company whose near-collapse some feared would send the financial system into a tailspin. The headline-grabbing failures follow a year-long financial decline, caused by unexpectedly high rates of home loan defaults that tore through the economy and wiped out billions in capital. The downturn accelerated in recent months as lenders spooked by steep losses and high-profile bank failures have tightened their...
...Bensenville president John Geils--citing cost overruns and a funding shortfall--argues that part of his village is being gutted for a runway that "has absolutely no chance of being built." Further, he notes that increasing capacity just as soaring fuel prices nudge the aviation industry into a tailspin may be a fool's errand. (Andolino maintains that construction is on track: in November, O'Hare will unveil its first new runway since...
...Harvard baseball team’s tailspin continues. The Crimson (1-21, 0-6 Ivy) suffered its third straight doubleheader sweep to open the Ivy League campaign—its 14th and 15th consecutive losses overall—yesterday at O’Donnell Field, as visiting Penn (11-11-1, 2-5-1) shut it out over the course of 16 innings, taking the opener, 10-0, and the nightcap by a 5-0 final. At 0-6 in the Ivies, Harvard is already six games behind Rolfe Division leader Dartmouth (7-1) in the standings and could...
Many of the forces that initially sent the economy into a tailspin in 1929 and 1930 have been at work in the 2000s as well: a stock-market boom turned bust, a real estate boom turned bust, unprecedented levels of consumer debt. The reason they haven't metastasized 1930s-style is that this time around, the Federal Reserve has acted forcefully, whereas in 1930 it was a spectator at the national train wreck...
...Romney, the Harvard M.B.A. and longtime venture capitalist, has always been more comfortable talking about economics and solutions than social issues or foreign policy. With its punishing 7.4% unemployment and its automobile industry in a tailspin, Michigan was as friendly an environment as he was likely to find. It is one of only two states in the country that lost population last year, as job seekers fled elsewhere, and the only one in the country with a shrinking gross domestic product. Macomb County, whose swing voters were the original "Reagan Democrats," once led the state in housing starts...