Word: meltdown
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Dates: during 2000-2009
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...been helpful to Florida, so if you believe in your heart that you're doing what's best for your state, you should stand up and say it," says Crist. "I don't have the luxury of scoring political points with conservatives or anyone else during the worst economic meltdown since the Great Depression." At the same time, he is quick to stress that he is no fan of Obama's broader agenda. Crist insists he shares "the ideological concern about the direction the Obama Administration is taking us. Government can't keep growing that way and putting future generations...
...weeks after Dubai stunned investors by requesting a standstill on $60 billion in liabilities belonging to its main corporate arm, Greece's downgrade is yet more evidence that the economic crisis is far from over. For countries left to fill gaping holes in their public finances exposed by the meltdown, there's plenty of pain still to come...
Shallow corporatist principles—devoid of any purpose except accumulation at all costs—have guided Harvard’s investments and continue to direct its handling of the endowment meltdown. Critical economic decisions are made under a shroud of secrecy; high administrators give vague answers to urgent educational questions; powerless directors are told to freeze hiring and salaries; hard-working, lower-wage staff who make Harvard function are laid off in the worst recession in 40 years by an institution that proudly touts its courses in ethics, religion, and morality...
While the Anglophile sheik kept a stiff upper lip, Dubai's inability to pay its debts is a heavy blow to an ego that easily dwarfs Dubai's gleaming new 160-story skyscraper. In the wake of the 2008 global financial meltdown, Sheik Mohammed repeatedly waved off predictions of Dubai's demise, staunchly defended his economic development model and dismissed Western media criticism as a bigoted slur on an Arab success story. "I can safely say that we have succeeded in containing the risks of the global financial crisis in record time," he said last April. Indeed, even...
...working groups includes one Democratic and one Republican Senator from the committee, each of whom has one staffer along at the meetings. Between them, these 16 people are trying to rewrite the way the American financial industry does business - and, as a result, avoid another global financial meltdown. In theory, the process could succeed. "We have points of agreement," says one top GOP staffer. But he adds: "The working groups may not work because the issues are much too complex." (See award-winning pictures of the fallout from the financial meltdown...