Word: bleakness
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FDIC Chairman L. William Seidman disputed the CBO's bleak prediction, contending that the insurance fund would remain "solvent but weak." Seidman said the banking industry could bolster the fund without help from taxpayers. But Seidman did acknowledge that if the recession lasts for more than a year, the fund will run dry by the end of 1991 and run a deficit of more than $5 billion...
While losing a job is always a wrenching experience, most senior managers can count on reasonable severance as well as personal savings to cushion the blow. But for legions of workers whose prospects of finding a place in a shrinking job market are bleak, the money is fast running out. More than 2.2 million people used up all six months' worth of unemployment benefits last year, a 16% increase from a year earlier. Worse still, a study released in December by Mathematica Policy Research, a consulting firm, found that 60% of unemployed workers were in the desperate position of still...
Prospects for the new government in Mogadishu seemed bleak. The coalition of rebels, which represents three Somali clans that have feuded for centuries, named hotel owner Ali Mahdi Mohammed, 52, interim President until elections could be held. But Mahdi's party, the United Somali Congress, grew angry at his appointment by a clique of elders and attacked the action as "hasty" and "unnatural." The tenuous troika could swiftly come unglued...
UNTIL LAST WEEK, the future of Harvard's Afro-American Studies department looked bleak. The department had only one full-time professor--and he was on leave. Harvard had made three recent tenure offers to scholars in the field--and all three had turned Harvard down...
Twenty years ago my memories of America's social temperature kept me in a feverish, high pitch of militant social protest. I led my vocalizing of that anger by expounding on the African Americans' bleak past as the target of tar burnings, rape, castrations, assasinations and the rest...