Word: groundwork
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...Even before he appeared on the Hill, Obama was laying groundwork to avoid a TARP train wreck. In a letter sent on Monday to congressional leaders, he pledged to devote much of the second installment to assisting small businesses and helping students and car buyers get loans. In personal calls to members on both sides of the aisle he promised better transparency of how the funds are disbursed, reflecting the frustration and anger of many members regarding the Treasury Department's handling of the funds. Still, many Democrats said on Monday that Obama's letter was not enough to convince...
...dodge the press. These were the men who - in the wake of WW I and the economic destruction it wrought - returned the world to the gold standard, used interest rates to bolster the value of currencies and let stock speculation run rampant. In short, they helped lay the groundwork for the Great Depression. In Lords of Finance: The Bankers Who Broke the World, investment manager Liaquat Ahamed tells the story of these men - a tale with plenty to resonate with today's economic malaise. TIME's Barbara Kiviat spoke with...
...range of Chicago and Illinois pols. When it became clear that Obama would seek a U.S. Senate seat in 2004, Jackson was among the Illinois state senator's most vigorous supporters. Jackson's support of many local candidates for city office may have reflected his plans to lay the groundwork for a potential challenge to Richard Daley, the city's mayor for nearly three decades. But after Obama was elected President, a U.S. Senate seat was suddenly available. (See TIME's top 10 scandals...
...exactly 30 years since the conclusion of the Third Plenum of the Central Committee of the Communist Party of China, the meeting that consolidated Deng Xiaoping's position as China's leader and laid the groundwork for a generation of economic reform. In 1978, Deng was the great survivor. He had been a party member for nearly 60 years, and had been purged more often than a top model's digestive tract, only to claw his way back to the leadership. China was desperate. The horrors of the Cultural Revolution were a fresh memory. As Premier Wen Jiabao said...
...politicians learned one thing from 2000, it's that they ought to be ready for recounts. To that end, it's typical for candidates to send advance teams of lawyers to precincts and states where the vote is expected to be close. The idea is that the legal groundwork for a recount and the financing of it can be laid down ahead of time. John Kerry and Bush had well-staffed legal teams in place in Ohio, Florida and other states before the 2004 presidential election for this very reason. Often, recounts are triggered automatically by extremely close margins...