Word: mac
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...rest of the world soon caught the bug. Except the U.S. When the band finally toured here in 1979 (ABBA, SWEDISH QUARTET, IN NEW YORK DEBUT, observed the New York Times), critics compared the foursome unfavorably to Fleetwood Mac, the Eagles and the Beach Boys...
...where is your precious Fleetwood Mac now? Does the Internet list more than 50 Eagles tribute bands? (Or any with as good a name as Abbaration?) Did the Beach Boys have a musical on Broadway? They did, actually. It died. Meanwhile, Mamma Mia! has been on Broadway since October 2001. Note the date--a moment when America sorely needed comfort food. It was as if the country had sent out a national sos and Abba supplied the perfect rescue vehicle...
...early days, the Federal Reserve Board did all the work and usually made its big announcement on a Friday. Since then, Treasury Secretary Hank Paulson has moved to the fore, and he picked a Sunday afternoon to float his proposal for bolstering beleaguered mortgage giants Fannie Mae and Freddie Mac. The basic pattern, though, remains the same: Financial tizzy. Dramatic government action. Period of reduced tizzy. Repeat...
...this most clearly in the case of Fannie Mae and Freddie Mac, which buy mortgages from banks, thrifts and mortgage brokers and repackage them for sale to investors around the world. The two government-chartered companies have, together with the Federal Housing Administration, been the main factors in keeping mortgage-lending going in the U.S. since the market for private mortgage-backed securities collapsed last summer. They've been able to keep financing mortgages because of the widespread belief that if they faltered, the government would step in to make buyers of their mortgage securities whole. If Paulson...
Obama had just come off the other side of a comedy controversy, after Bernie Mac went to an Obama event and told dirty jokes (a.k.a. what Bernie Mac does for a living). Comics Randi Rhodes and Penn Jillette took heat for nasty jokes about Hillary Clinton; John McCain, for joking about using U.S. cigarette exports as a weapon to kill Iranians. Partisans argued over whether Saturday Night Live was more unfair to Obama than Comedy Central was to Clinton. Across America, the body politic is busily making mountains out of droll hills...