Word: meltdown
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...when describing the fall of Lehman. It's the key battle, in a sense, since Lehman was a major force behind the subprime-mortgage bonds that were the culprits in the collapse. Gasparino is particularly good at capturing--via the profane, telling quote--the high-noon drama of the meltdown. When Morgan Stanley CEO John Mack tells Lehman boss Dick Fuld, "There are rumors that you guys are in trouble," Fuld, the "Gorilla of Wall Street," answers with tough-guy bravado, "It's bullshit." Lehman's stock price was soon in free fall...
...meltdown in the credit markets, the housing collapse, the weak U.S. dollar and depressed consumer confidence have all taken a particularly harsh toll on small businesses. Many small companies rely on credit cards for capital because they don't have access to debt or equity capital as public companies do, and many are seeing these credit lines trimmed or even pulled altogether by skittish banks...
There's little disagreement that by picking up the banks' half-a-trillion-dollar repair bill, taxpayers got a rotten deal in the financial meltdown. How to make sure they're not forced to pay a second time is unclear. A levy on financial-market transactions, stretched beyond foreign-currency trades to cover stocks, derivatives and other clever instruments, might offer twin benefits. By slapping an additional fee on each transaction, the tax "would naturally drive [investors] toward those that are more sensible, more profitable, more rational," suggests Julian Jessop, chief international economist at the consultancy Capital Economics in London...
...current climate of dwindling job prospects and global economic meltdown, few can argue that what the universe could really use is a hefty dose of good old-fashioned awesome.Thankfully, the Boston-based Awesome Foundation for Arts and Sciences was assembled this June by, among others, several recent Harvard grads in order to help elevate any depleted levels of awesome in the world. The organization, comprised of ten trustees, awards a monthly grant of $1,000 provided directly, no strings attached, to the person whose idea the trustees deem unequivocally “awesome.”Unlike...
...three reform packages aim to create a systemic-risk council that can impose emergency measures and unleash extra powers throughout government in case of a future meltdown like the one that almost destroyed the global economy last fall. Dodd differs with the Administration in who should head the council: he wants the President to appoint someone, while the Administration thinks it should be an internal player like the Treasury Secretary...