Word: toxication
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...government walked away from the entire matter because it was complex and time consuming. This is the same reason that the Treasury Department wrote checks to the banks instead of buying their toxic assets even though Congress had been told that the TARP funds would only be used to buy toxic assets. It was quicker and easier to just give the banks money because of the worsening crisis...
...launch a dedicated Barbie concept store for other reasons. Mattel imports 65% of its products from Chinese factories - a fact that became embarrassingly obvious in 2007, when the company had to recall nearly 20 million Chinese-made toys. Mattel later admitted that most of the defects, which included toxic lead paint and magnets that became lethal if ingested, were a result of design flaws, not manufacturing mistakes, but China's reputation had already taken a beating. The Shanghai store helps to repair the company's image in China...
...that raw brainpower comes with handicaps as well, including a tendency to make verbal blunders that haunt Summers for years. As chief economist at the World Bank, he penned a memo explaining the "impeccable" economic logic of dumping toxic waste in developing countries, igniting a firestorm despite his protests that he was being sarcastic. Years later, as president of Harvard, he publicly raised the hypothesis that women have a less innate ability for science and math than men do, sparking a controversy that helped lead to his dismissal from the top job, despite repeated apologies and clarifications. "The stories...
...still some time to talk about how it could be improved and to criticize what is not yet set in stone. Instead of spending this money for infrastructure projects to create jobs, it should go immediately to inject capital into the failing real estate market. Instead of purchasing toxic assets with TARP funds, the government should now begin to purchase residential and commercial real estate that is for sale to stop the destruction of property values. Last month the value of housing in the top 20 cities fell more than...
...there are strong arguments to thwart the doubters. Toxic assets may never be worth close to the government's purchase price. The most serious problem is that taxpayers may never see any return at all on that capital. That case cannot be made about land. Keeping up property owned by the government is employment worth creating because it hastens the time that the property can be viewed as valuable and salable. The federal government plans to rebuild monuments in Washington at an estimated cost of $400 million. This money might be better spent on maintaining real estate bought as part...