Word: cashes
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...Florida's Democratic Senator, Bill Nelson, is threatening legal action to test whether poltiical parties actually have the kind of authority the DNC is trying to assert. And Geller says he even plans to urge Democratic donors in Florida, one of the country's most lucrative sources of political cash, to boycott the national party and keep their funds in the state if the DNC sticks to its ruling. Perhaps the national party will wise up, he says, if it faces the prospect of losing all that Flori-dough...
...colleague Sean D. Carr, a fortuitously timed new book titled The Panic of 1907: Lessons Learned from the Market's Perfect Storm. That year saw a string of bank failures and a stock-market collapse that was halted only when J.P. Morgan browbeat his fellow moguls into ponying up cash to stop the panic. The 1907 crisis in turn led to the creation of the Federal Reserve, which was supposed to do what Morgan did, only more reliably...
...first big global liquidity crisis came a few years later, on the morning after the 1987 stock-market crash. Fearful banks stopped lending until new Fed Chairman Alan Greenspan restored confidence with reassuring words and piles of cash. Greenspan did the same when credit markets froze after the Russian government defaulted on its debts in 1998. But he was criticized afterward for being perhaps too generous and reassuring and for launching an era of overly easy money...
...Bernanke's turn. He and his Fed colleagues have sprinkled cash around and made loans to banks, but they've also made a point of moving so slowly and deliberately as to enrage some on Wall Street. Are they getting the balance right? We should know by the time the movie version comes...
...these rising house values added trillions to our sense of national wealth, but it is an illusion. If everybody, or even a fraction of everybody, tried to cash in on this rising value, prices would collapse, and the value would disappear. (By contrast, there aren't millions of onion owners counting on the value of their onions to keep going up year after year.) Economists predicted for years that something like this would happen as the boomer generation aged. Nobody believed them...