Word: armageddon
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...much clearer than that. But Geithner has known all along that there were two critical first steps the U.S. had to take in order to begin the process of reassuring its creditors. It had to demonstrate that it had a grip on the banking crisis - that financial Armageddon was not at hand - and it needed to show the world that a broad, macroeconomic turnaround wasn't too far down the road. Geithner is loathe to talk publicly about market behavior, but Treasury officials believe that a tightening of credit-market spreads shows an improvement in confidence. "Risk premia are receding...
...First Lady's world, everything is soaring - spirits, ballet dancers, ambitions. In Barack's world, expressions of optimism are carefully qualified. In Michelle's world, expressions of pessimism are almost unthinkable. For Barack, the big question is how he is going to save the world from economic and nuclear Armageddon. For Michelle, the big question is who made her darling cardigan with the sequins and the argyle print. (See photos of Michelle Obama's fashion...
...baby boomers were historically fortunate: they missed the Great Depression and World War II, and though they grew up with the hideous ambient hum of potential nuclear Armageddon, until they reached middle age, the only great national trauma was the one - the '60s and Vietnam - in which they were the self-regarding stars. The so-called millennials, on the other hand, have come of age during a period defined by the digital revolution, 9/11, financial bubbles bursting, a possible depression and the election - possibly their election - of an African-American President: the makings, frankly, of a healthier, more useful generational...
...tough to figure the exact moment when the button stopped tickling America's fancy. It wasn't during the Cold War: the giant red button was all that kept us from nuclear Armageddon. And in the age of the personal computer, the button was king. Mice, monitors, keyboards - buttons became a part of the fabric of our new, digital life...
...with the $170 billion? Does the company's strategy, which is to wind down its exposure to toxic assets and sell some of its profitable insurance divisions to help pay off the government debt, stand a good chance of succeeding? And if it does, will the world avert financial Armageddon...