Word: meltdown
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...empires to be toppled but as moneymaking machines to be restrained, so that the panic and bailouts of two years ago are never repeated. Just because it's populist, he likes to say, doesn't mean it's wrong. (See award-winning pictures of the fallout from the financial meltdown...
...conspicuously not the case with health care reform, the Administration has laid out specific changes it wants to see in financial oversight. In June, Geithner released an 88-page paper with proposals to address just about everything that went wrong before the meltdown, from unregulated brokers who peddled toxic subprime mortgages with brutal fine print to in-the-tank ratings agencies that vouched for house-of-cards financial instruments they didn't even understand. He proposed much tougher oversight of derivatives, hedge funds and nonbank financial firms like AIG, as well as so-called resolution authority to help public officials...
...While Bernanke deserves a certain amount of recognition for his role during the financial meltdown, you missed a golden opportunity to name the collective unemployed as Person of the Year. It shouldn't be ignored that the unemployed have endured the edge of the financial storm while government looks for answers. The millions of unemployed Americans deserve to be recognized for the impact they've had on society and for the impact they will have for years to come. Steve Grisham Kirkland, Wash...
...nationalization, socialization, privatization and pro-market reforms. Grémont says that such enduring élitism is difficult to challenge in normal economic times, which is the main reason some French executives continue to fear that the current global recession could morph into something more serious: a 1930s-style meltdown capable of shaking the entire economic structure to its foundations. Were that to happen, chain-reaction bankruptcies of companies could force the French state to step in and nationalize industries, dismantling the boardroom power structure. (See pictures of President Nicolas Sarkozy celebrating Bastille...
While Bernanke deserves a certain amount of recognition for his role during the financial meltdown, you missed a golden opportunity to name the collective unemployed as Person of the Year. It shouldn't be ignored that the unemployed have endured the edge of the financial storm while government looks for answers. The millions of unemployed Americans deserve to be recognized for the impact they've had on society and for the impact they will have for years to come...