Word: toxicants
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Dates: during 2000-2009
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...reversal, and what does it bode for the coming days and months? Anyone claiming they know is blowing smoke. Though the brutal rout of global markets last week arose from fears the world's banking and financial markets risked total collapse in the face of the toxic credit crisis, government rescue plans detailed this week in both the U.S. and Europe mostly allayed those concerns, sparking surges on Monday and Tuesday. Market plunges since then came in the wake of negative news indicating serious slowing of American economic activity...
...prudently manage risk and allocate capital. They became gambling casinos - gambling with other people's money, knowing that the taxpayer would step in if the losses were too great. They misallocated capital, with massive amounts going into housing that was ultimately unaffordable. Loose money and light regulation were a toxic mixture. It exploded...
...that we exported it. A few months ago, some talked about decoupling - that Europe would carry on even as the U.S. suffered a downturn. I always thought that decoupling was a myth, and events have proven that right. Thanks to globalization, Wall Street was able to sell off its toxic mortgages around the world. It appears that about half the toxic mortgages were exported. Had they not been, the U.S. would be in even worse shape. Moreover, even as our economy went into a slowdown, exports kept the U.S. going. But the weaknesses in America weakened the dollar and made...
...weeks, Paulson had held off on direct investment, preferring instead to use the $700 billion Troubled Asset Relief Program (TARP), passed by Congress on its second go-round, to buy toxic mortgage-related assets from the banks. The bank bailout will be funded out of that budget, and the Treasury still plans to start buying troubled assets in the next month or so. But that wasn't soon enough for worried investors or for Fed Chairman Ben Bernanke, who according to inside reports had been advocating for a recapitalization for months. Money flowed out of the stock market, including that...
...massive destruction World War I inflicted on key economies like those of Britain, France and Germany, and the lingering distortions in trade, capital flows and exchange rates occasioned by the punitive Treaty of Versailles. Memories of the war's bitter fighting and vengeful conclusion had rendered the international atmosphere toxic, making a mockery out of the one transnational institution to have emerged from the conflict, the League of Nations. Adding to those abundant ills was the near religious faith in the sacred orthodoxies of laissez-faire and the gold standard--the economic equivalents of the Nicene Creed...