Word: wipeout
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...Right before the markets began to unravel last year, Lloyd Blankfein, chief executive of Goldman Sachs, presciently quipped that he hadn't "felt this good since 1998," referring to the Wall Street wipeout precipitated that year by Russia's defaulting on its ruble debt. Blankfein argued that confidence in global markets had built up to a dangerously giddy level and that investors weren't being compensated for assuming outsize risk in securities like esoteric bonds and Chinese stocks. Blankfein was right, of course, but even he wasn't paranoid enough. Though Goldman stands, along with Morgan Stanley...
...This year's near wipeout has thrown the market out of kilter. To keep its customers supplied with high-grade rice, SunRice has had to buy it from a number of other countries, then process and pack it overseas. In coming months, not even Australians will be eating much locally grown rice; instead it will be imported from Thailand, India and Pakistan. The SunRice purchases partly explain why rice importers in other parts of the world are having trouble finding supplies...
...them. Running an "insurgent" campaign against a longtime incumbent, he has thrown in his lot with Obama. "I can knock on 50 doors in two hours or I can train 200 Obama supporters to go to the caucuses," Maxey says. What does he expect on Tuesday? "A wipeout," he says as Bill Clinton gives one last wave to the crowd and leaves the quadrangle...
...Sunday, Costello made the surprise announcement that he would not stand for party leadership and would quit politics at the end of his term. The double knockout was a reminder that for the conservatives this election is not just a single defeat; it means a coast-to-coast wipeout. Labor now runs not just the federal government but every Australian state and territory. Howard has not only fallen short of his ambition to match Liberal Party icon Sir Robert Menzies' record time as P.M.; he may also be blamed for the shipwreck of Menzies' party...
...center of the controversy is a gentleman named Al From, a former Senate aide who helped found the DLC in reaction to the Walter Mondale presidential wipeout in 1984 and now serves as its CEO. From is a moderate who acts like an extremist. Early on, he gleefully picked fights with various crumbling pillars of post-Vietnam liberalism-trade unions, antiwar activists and ethnic pleaders. Many of these battles were worth waging, especially on social issues like crime and welfare reform, where Democrats had drifted into a slough of guilt and warped good intentions...