Word: america
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Dates: during 2000-2009
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...Citi's deal to pay back the government was reportedly hashed out over a week's worth of marathon negotiations following Bank of America's repayment last week of $45 billion in government assistance. Citi did not want to be one of the few remaining big banks still using the government's crutch.(See the worst business deals...
...Finally, the deal Citi struck with the government may indicate to investors that the bank is actually in worse shape than many thought. To exit TARP, Bank of America was required to raise $18.5 billion in new capital, or about 40% of the $45 billion in capital it repaid the government. Other banks have had to raise as much as half of the amount they want to pay back the government in new capital. Citigroup, though, is required to raise more than 100% of what it wants to pay back - $20.5 billion in new capital, half a billion dollars more...
...Letting Bank of America repay its TARP funds was ridiculous, but letting Citi out is even more problematic," says Whalen...
According to retail expert Brit Beemer, electronics are virtually tied with toys as the top Christmas-gift item for the first time in more than 25 years. In a survey conducted last weekend by Beemer's firm, America's Research Group, and UBS Global Equity Research, 30% of consumers cited electronics when asked what gift they were buying most often (30.8% said toys). Last year, only 23.7% of respondents said they'd purchase an electronics item. The sector's strength has compelled Beemer, for the first time in his 19 years of conducting Christmas consumer surveys, to revise his holiday...
Several former officials of the Ecuadorian government had ties with Colombia's Marxist guerrillas, a commission named by President Rafael Correa conceded Tuesday. The announcement is sure to stir up new questions about how deeply South America's political left, including Venezuelan President Hugo Chávez, has aided a rebel force condemned worldwide as drug traffickers and terrorists. And it raises the risk, said the commission's coordinator, Francisco Huerta, that Ecuador is "becoming a narco-democracy...