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So began A.I.G.'s downward spiral as it, its clients, its trading partners and other companies were swept into the drowning pool set in motion by the housing downturn.
From foreclosure to food shortages, the economic downturn set in motion by the financial crisis of 2008 is having a broad and deeply-felt global impact.
But the governor defended the borrowing as a short-term solution to what he described as a temporary downturn in the state economy set in motion by the terrorist attack last year.
Is Michael Gove, the shadow schools secretary who is repaying £7,000 for furnishings, the same Michael Gove who put his name to a prospective Commons motion to freeze the national minimum wage in view of the economic downturn?
Nokia, the world's biggest handset maker, has suffered sharply in the economic downturn and has lost ground in the battle for smartphone customers to Apple and Research in Motion, the maker of the BlackBerry device.
My colleague Tim Huse and I looked back at the last three downturns in the U.S. and identified 44 disruptive companies that had had less than $1 billion in revenue at the start of the downturn, such as Intel and Southwest in 1979, or Best Buy and Charles Schwab in 1989, or Amazon and Research in Motion in 2000.
What downturn?
Here comes the downturn.
A downturn will come.
Meaning before the downturn.
The downturn hit New York hard.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com