Word: zero
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Dates: during 2000-2009
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Though it was nearing midnight and the temperature was sub-zero, Antoine hastily made his friend put on a jacket and run outside to the frozen Charles River down the street. Amid the snow and ice, the two friends stepped cautiously onto the frozen river and back to its bank. There they talked and laughed...
...come a stream of costly policy errors that could ultimately prolong the current recession. The Fed's Dec. 16 decision to drop the target federal-funds rate to a record low of 0% to 0.25% is but the most recent of these. With rates already effectively trading near zero despite the Fed's previous target of 1%, the decision does not actually change rates and only sends a negative message about the state of the economy. That worsens confidence. And now the target rate has nowhere else to go, so the Fed will have to resort to new means...
After last month's terrorist attacks in the Indian city of Mumbai, which left more than 160 people dead, blame quickly began to zero in on Pakistan-based militants. Just as swiftly, Pakistan's Foreign Minister Shah Mahmood Qureshi responded with calls for "complete evidence" of any involvement by Pakistanis, declaring "our hands are clean." Just over a week later arrests were made in the case and Qureshi, a longtime member of the Pakistan People's Party (PPP), told the press, "They are Pakistani citizens and will be dealt with according to the law of the land." Pakistani officials would...
...there a credit crunch? Was there ever? Those questions may seem absurd. Throughout the autumn, the interest rate banks charge each other broke one record after another as trust between institutions evaporated, investors stashed so much cash in super-safe Treasuries that yields approached zero, and the private securitization market for mortgages, which keeps capital flowing for more home loans, disappeared. Lehman Brothers collapsed when no one would loan it money, and any number of other firms - AIG, Citigroup, GM - went hat in hand to the U.S. government, lender of last resort. (Read TIME's Top 10 Financial Collapses...
...different story is drawing to a close: one that began with Bush standing defiantly atop a heap of rubble at ground zero and started its downward spiral when he stood before an ill-advised banner reading mission accomplished. At home, the pelting of the President led to more merriment than anger. Thus the plight of his Administration in its final days: unpopular at home and unloved even by those for whom it expended American blood and treasure to free from tyranny...