Word: worthlessness
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After the firm imploded, friends of Fuld's worried not only about the spread of the financial disaster worldwide but also about his safety, as enraged employees, who had invested their life savings in now worthless company stock, cleared out. Though Wall Street, with government intervention, survived, Gasparino has plenty of finger-pointing to offer. He argues, for instance, that the SEC should be disbanded because of "the false sense of security it provides." Then again, after reading this book, you're not likely to be that susceptible anymore...
...Pope even floated the idea of a booth at the Venice Biennale next year: one can only wonder the contents of the goody bags he’d pass out.) But it takes a startling lack of faith to argue that contemporary creative acts are isolating and worthless simply because they don’t contain the overt moral messages that scan with the church’s higher...
...Super Sweet Sixteen” made your 16th birthday (where your dad unveiled a doorless 1988 Nissan Sentra as your wheels for the next two years before saying—in complete seriousness—“Pimpin’ ain’t easy”) feel worthless, your friendly neighborhood John Song will demolish Harvard’s already below-average self-esteem in a list of the top three reasons why Yale will prevail in The Game...
...hacks and Chicken Littles who are worried about the dollar. There are (at least) three good reasons to fret. First, the events of the past 14 months have made predictions of impending economic doom seem a lot more credible than they used to. When Faber forecasts not only a worthless dollar but also a "collapse of our capitalistic system as we know it today," it's impossible to dismiss him out of hand. Second, the data point that has dollar worriers most alarmed - burgeoning U.S.-government debt - is for real. Finally, the global monetary setup we've had since...
...Federal Reserve's purchasing government securities with dollars it conjures out of thin air) reduces the value of existing dollars. And a government in truly dire fiscal straits - Germany in the 1920s is the most famous example - may print so much currency that it makes the stuff effectively worthless. Our fiscal straits aren't that dire just yet. But chronic deficits during George W. Bush's Administration, even bigger deficits brought on by the financial crisis and President Obama's efforts to stimulate the economy, plus looming shortfalls related to Social Security and Medicare will add up to economy-straining...