Word: poorly
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...like Lehman, was ultimately done in by credit-rating agencies, of all things. The main credit raters - Moody's and Standard & Poor's - had blithely assigned top-drawer AAA and AA ratings to all sorts of hinky mortgage securities and other financial esoterica without understanding the risks involved. Would you know how to rate a collateralized loan obligation? Or commercial-mortgage-backed securities? Sophisticated investors took Moody's and S&P's word for it, and it turned out that the agencies didn't know what they were doing. Credit raters, who claim to offer only opinions, are party...
Exploiting the Poor The burden of skyrocketing inflation; the food and fuel crises caused by the policies of greedy, incompetent politicos and dictators; the ever widening gaps between the rich and the hardworking common people are a curse not only in India but the world over - including in so-called communist countries like China, with their cheap slave labor [Aug. 25]. Maybe in the future the world will get accountable, secular democracies, and the U.S. and U.K. will lead the world as role models. Until then, the world must suffer from the sins of profiteers. Vijay Bansal, WARRINGTON, ENGLAND...
...about Obama’s candidacy, and they’re ready to finally see some real change,” he said. In his speech, Vilsack called Nov. 4 “the most important election of my lifetime.” Citing a disastrous economic situation, a poor standing on the international stage, and the energy crisis as examples of the failed policies of the Bush administration, Vilsack emphasized the need to focus on issues in this campaign. His jab at McCain’s choice of “an obscure governor” won over...
...said. “We are committed to poverty reduction and urban issues.” Reverend Hamilton followed Bush’s speech with a discussion about his experiences as a pastor at the Roxbury Presbyterian Church and, like Bush, emphasized the importance of engaging the poor and building community relationships. Hamilton praised the bipartisan nature of last night’s event and highlighted the need to work together across political and racial lines against poverty. “The call of the poor is potentially a contemporary common good that if seen correctly, could move us beyond...
Unlike Samak, Somchai is not one to up the ante, and he has vowed to "bring unity" back to Thailand. The new P.M. also vowed not to interfere in the ongoing court cases against his brother-in-law. Nevertheless, the basic rift between the rural poor, who support Thaksin, and the urban middle class and elite, who despise him, is only growing wider. Furthermore, another case that will reach the constitutional court in the coming months might force the dissolution of Somchai's PPP because of a vote-buying conviction against its former deputy leader. If that happens, Somchai will...