Word: tailspins
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...over subsequent weeks, finally bottoming out on November 13, 1929. The market recovered for a few months and then slid again, gliding swiftly and steadily with the rest of the country into the Great Depression. Companies incurred huge layoffs, unemployment skyrocketed, wages plummeted and the economy went into a tailspin. While World War II helped pull the country out of a Depression by the early 1940s, the stock market wouldn't recover to its pre-crash numbers until...
Even then, though, the changes were not enough to persuade House GOP members - only 37% of whom voted for the measure, compared with 60% of Democrats - and the bill failed, sending the stock market into a tailspin. "The calls to our office before that vote were universal nos," says Representative Michael Conaway, a Texas Republican, one of 26 Republicans who switched his vote. "After the vote, I started getting calls from constituents saying, 'Oh my God, that was the wrong vote; I thought you were voting yes' - particularly from small businesses and people who lost a lot in retirement savings...
...failure of Lehman Brothers, 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., an 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, tightened their purse...
...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...