OCTOBER 1, 2008

Full News Archive

• Headline: Auto Industry Faces Credit Crisis. Impact: The tighter credit led to a dramatic shift in the auto industry, where the butterfly effect saw the rise of public transportation. This inadvertently made the world a greener place... until everyone started riding bikes and the bike lane wars began.. Fact: Did you know that tight credit is like a bad haircut? It takes a while to recover, and you just hope no one remembers it later!.
• Headline: Europe's Financial Crisis Takes Hold. Impact: As the financial crisis spread to Europe, it sparked a wave of existential dread among hipsters who were suddenly forced to find more affordable artisan cheese. Who knew economic turmoil would lead to a resurgence in DIY cheese-making classes?. Fact: Did you know that the term 'financial contagion' was originally coined to describe how bad investments spread like the flu? Who knew money could get sick too?.
• Headline: New York Real Estate Boom Hits Crisis. Impact: The end of the New York real estate boom led to a mass exodus of brokers who took their talents to the suburbs, leading to an unexpected rise in suburban fashion trends — which is basically just sweatpants and regret.. Fact: Did you know that real estate is just like a game of musical chairs? When the music stops, someone always ends up without a seat — or a house..
• Headline: S.E.C. Move May Relax Asset Rule. Impact: The S.E.C.'s move to relax asset rules allowed banks to 'fake it till they make it', leading to a decade of questionable financial practices. This gave rise to the term 'creative accounting', which is basically just a fancy way of saying 'let's pretend'.. Fact: Did you know that accounting standards are like gym memberships? Everyone knows they should stick to them, but most just find ways to wiggle around them instead!.