Word: browne
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...moment, though, the priority remains trying to stabilize a global financial system that has become worryingly volatile. Announcing Britain's plans to recapitalize its major banks and reach out for a broader international solution, Prime Minister Gordon Brown didn't mince words. "This is not a time for conventional thinking or outdated dogma but for the fresh and innovative intervention that gets to the heart of the problem," he said. The big yawn with which global stock markets greeted the move said it all: given the beaten-down state of the financial system and the questions that continue to swirl...
What would’ve been the wide receivers of the future have now become the wide receivers of the present. With the onset of sophomore Marco Iannuzzi’s season-ending collarbone injury suffered in Harvard’s Ivy opener against Brown, four relatively inexperienced receivers—sophomore Levi Richards, freshman Adam Chrissis, junior Mike Clarke, and senior Alex Breaux—will be called onto the field for even more live action. “They haven’t really been in the game as much, but that doesn’t mean they...
...That was one reason so many Americans regarded Hank Paulson's bailout plan with skepticism. And it's why Britain's Prime Minister Gordon Brown and his Chancellor, Alistair Darling, did not want to dwell Wednesday morning on how Britain's banking sector had got into such a parlous state that the government was compelled to spend up to $88 billion in taxpayers' money to secure it. Their emergency rescue plan was hatched over weeks but finalized in such a hurry that bleary officials labored overnight to finish it before the skittish markets opened. At a morning press conference, both...
...between Saturday's rhetoric and Monday's reckoning was amply visible in advance. For all the brave-sounding statements about a common response at French President Nicolas Sarkozy's conclave on Saturday, he and Merkel, along with Prime Ministers Gordon Brown of Britain and Silvio Berlusconi of Italy, couldn't agree on substantial international measures to shore up Europe's beleaguered financial markets; they in fact had little standing to do so. By Sunday, the national governments in the 27-member E.U., including the 15 that use the euro currency, all seemed concerned first and foremost with the conditions...
...Germany's action came just a day after Merkel had joined Sarkozy, Berlusconi and Brown in grumbling about a similar total savings guarantee announced last week by Ireland, which E.U. competition authorities had already pledged to challenge as a competition-distorting measure. But with Germany, Europe's largest economy, reversing its stand and taking that same route Sunday, Austria said it would follow suit - making it the fourth E.U. nation to guarantee private savings, along with Greece. Denmark and Sweden also raised the limits on savings they would guarantee, and by Monday, even British Finance Minister Alistair Darling was giving...