Word: americanizing
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Caballero, who is from Chile, is not absolving American bankers and regulators. But he says investigators and lawmakers who are looking into the financial crisis are spending too much time grilling Wall Streeters and not enough time looking into the global imbalances that are largely to blame. "What worries me is Congress trying to create new regulations, but not asking where the pressure was coming from to create these products," says Caballero. "In terms of formulating a solution, just looking at the U.S. financial system is not the answer...
...number of economists and policy analysts believe Caballero makes a lot of sense. Alex Pollock of the American Enterprise Institute says it's clear the foreign investors who bought the bonds of mortgage guarantors Fannie Mae and Freddie Mac served to fuel the housing bubble. Ohio State University professor René Stulz, who has studied the financial crisis, says Caballero has hit on a critical contributor. Says Stulz, "Investors looking for safe investments in the U.S. created a demand for new products that caused our financial system to work differently from how it had worked in the past...
...only would malaria eradication save millions of lives, it would also free up many countries from the crushing costs of dealing with the disease - costs that make economic growth impossible. The American economy, when it is not in recession, has typically grown about 3% per year since the 1970s. Countries with malaria, by contrast, lose 1.3% of that potential growth - nearly half - just to the consequences of the disease, according to a study by leading global economist Jeffrey Sachs. "It's like a huge tax on economic growth," says Hall...
...compensate for losses suffered by taxpayers in bailouts of the financial industry that began in the final months of the Bush Administration. "We want our money back, and we are going to get it," the President said, using unusually informal language to identify with the great mass of American taxpayers. Massachusetts Democrat Coakley took that as a cue to release a statement putting her opponent on the spot: "Now is the time for Scott Brown to tell us what side he's on, and who he wants to fight for," it read. (See how Americans are spending...
...vital growth market. Domestic box-office revenues are expected to grow from their $2.5 billion today to over $4 billion in 2012, according to a 2009 entertainment-industry report by the Federation of Indian Chambers of Commerce and Industry and the accounting and consulting firm KPMG. In the past, American studios operating from the Bollywood capital of Mumbai were limited by relatively few outlets; in 2005, there were only 13,000 single-screen cinemas in a country with 1.2 billion people. But India's real estate boom and 9% economic growth rate (it has now backed down to 7%) helped...