How bad is the crisis going to get?
36 hours in September changed the world. When investment bank Lehman Brothers collapsed, the credit crunch became a global financial crisis. But how bad is that crisis? Was it wrong to let Lehman fail? Or was Lehman just a symptom not the cause of the chaos in the global economy? Tough questions, and the World … Read more
Do You Want An Internship? It’ll Cost You
Faced with a dismal market for college summer internships, a growing number of anxious parents are pitching in to help — by buying their kids a foot in the door. Some are paying for-profit companies to place their college students in internships that are mostly unpaid. Others are hiring marketing consultants to create direct-mail campaigns … Read more
Fear Factor: This Is Your Brain in an Economic Crisis
Three weeks after the stock market crash in 1929, Lawrence J. Fava jumped into the Schuylkill River in Philadelphia. He was a middle-aged real estate dealer, and he was “frantic” about the losses he had suffered, according to his suicide note. He left the note on the Girard Avenue Bridge and then leapt into … Read more
Financial Crisis Buzzwords
Finance for dummies, as Time says… Definition: Troubled Asset Relief Program, the government’s term for the Wall Street bailout bill. The term was first coined by Treasury Secretary Henry Paulson. The $700 billion bill passed the Senate Oct. 1, the House Oct. 3, and was signed by President Bush that same day. Usage: ”The point is that TARP … Read more
