The 2008 financial crisis was an aberrant (diverging from the standard type) event that disrupted economies worldwide. Financial institutions had adulterated (to contaminate or make impure by introducing inferior elements) mortgage-backed securities, leading to massive losses. As the collapse unfolded, some executives seemed to abscond (to leave secretly, evading detection) from accountability.
The government couldn’t abstain (to voluntarily refrain from doing something) from acting. It responded with alacrity (promptness and eagerness), approving emergency funds. Many leaders advocated (to recommend, support, or advise) intervention to alleviate (to relieve a problem or ease a burden) the crisis and ameliorate (to improve or mitigate a situation) the economy.
Public opinion was ambivalent (having mixed or contradictory feelings about someone or something), especially as normal markets fell into abeyance (temporary inactivity or suspension). New policies had to be amenable (easily convinced or persuaded) enough to gain support. Lawmakers admonished (to scold or to advise firmly) executives, though some responded with affectation (fake or artificial behavior, often meant to impress or conceal the truth).
The use of outdated economic models felt like an anachronism (something out of its proper time), but those with financial acumen (keen judgment and perception) helped amalgamate (to combine or mix together) reform strategies. While some responses were ambiguous (unclear; open to multiple interpretations), the crisis eventually began to abate (to diminish in intensity).
abate (v.) – to diminish in intensity
aberrant (adj.) – diverging from the standard type
abjure (v.) – to reject or renounce
abscond (v.) – to leave secretly, evading detection
abstain (v.) – to voluntarily refrain from doing something
abeyance (n.) – temporary inactivity or suspension
acumen (n.) – keen judgment and perception
admonish (v.) – to scold or to advise firmly
adulterate (v.) – to contaminate or make impure by introducing inferior elements
advocate (v./n.) – to recommend, support, or advise; one who advocates
aesthetic (adj.) – concerned with the nature of beauty and art
affectation (n.) – fake or artificial behavior, often meant to impress or conceal the truth
aggrandize (v.) – to enlarge or increase, especially wealth, power, or reputation
alacrity (n.) – promptness and eagerness
alleviate (v.) – to relieve a problem or ease a burden
amalgamate (v.) – to combine or mix together
ambiguous (adj.) – unclear; open to multiple interpretations
ambivalent (adj.) – having mixed or contradictory feelings about someone or something
ameliorate (v.) – to improve or mitigate a situation
amenable (adj.) – easily convinced or persuaded
anachronism (n.) – something out of its proper time
