In order to avoid another debacle, France's Prime Minister Manuel Valls quickly agreed to work on a new law.
In the debacle at WorldCom, accused of hiding operating costs in order to exaggerate its earnings, that is as big a puzzle for accountants and auditing experts as it is for lay observers.
In order to obviate this sort of debacle in future elections, the Twelfth Amendment to the Constitution, which established separate votes for president and vice president, was passed in 1804.
He claimed last year's Swat operation, which he termed a "debacle," was one such exaggeration that was "stage managed" in order to gain U.S. funds; there was no imminent threat of militants marching on Islamabad, he said.
And that redoubtable Labour figure Sidney Webb, later Lord Passfield, once said that the Attlee government had nationalised the Bank of England in 1946 in order to avoid a repeat of the debacle.
The government plugged that loophole, but other dodges remain, such as making payments to bogus reinsurers in order to funnel money offshore.Until the bond debacle, however, things had been slowly improving.
After the debacle in Srebrenica, the United States would have been obliged to go into Bosnia anyway, in order to pull out the besieged U.N. peacekeepers.
Still reaping the consequences of the subprime debacle, banks are openly increasing interest rates and fees on their credit card customers in order to cover losses in other areas.
Specific strategies need to be developed, first of all in order to forego future public resistance (such as in the case of the GMO debacle), but also because a large portion of scientific research is funded by public means.
