Word: crisises
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See the financial crisis blame game.
That brings us to lesson No. 2. Early in the Great Depression, powerful voices at Treasury and the Fed argued that financial crisis was a necessary corrective. "Liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate," Treasury Secretary Andrew Mellon advised President Herbert Hoover. "It will purge the rottenness...
Then again, it was decisions made by government officials in the years before the crisis that allowed things to get so bad. From ill-considered deregulation of banking and derivatives to over-the-top encouragement of homeownership, Washington's fingerprints are all over the crisis. Almost nothing has been done...
“In these times of economic crisis and mass unemployment, we think the resources of the United States should be put to helping the people that are unemployed and not propping up military dictators around the world,” Meza said.
For many here, the Detroit Lions' surprise victory over the Washington Redskins late Sunday affirmed a regional belief in redemption despite profoundly grim odds. Until that game, the Lions had tortured its most ardent fans with a 19-game losing streak that began in December 2007. Many Michigan residents had...