Word: auction
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Dates: during 2000-2009
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...tell you, I would follow the same course that George Bush No. 1 did: I would set up a Resolution Trust Company like he did, and I literally would buy up all those bad loans. And the assets that were purchased, you put them up for auction. Just like the Resolution Trust. And the money that is raised from that goes back into the Treasury and hopefully pays down what it took to buy those assets. But still, [former Treasury Secretary Henry] Paulson and others haven't faced the one issue that has to be dealt with, and that...
Celebrated French mime Marcel Marceau left his mark on the world through silence, but his earthly belongings are generating a great deal of noise these days. On Wednesday, Parisian auction house Drouot began the second and final day of bidding on artwork, books, manuscripts and costumes Marceau left behind when he died at the age of 87 in September 2007. "We have 4,200 over here - certainly an original Marceau merits another bid!" prodded auctioneer Rodolphe Tessier as he stoked the bidding on Marceau's painting The Audience Observing from a reserve price of €800 ($1,080) toward...
...Critics say the bazaar-like atmosphere is hardly fitting. They note that the auction was court-ordered with the limited objective of reimbursing $405,000 in debt Marceau racked up at the end of his life to finance his shows. To ensure that sum is obtained, the auctioneers have set astonishingly low opening prices so everything will find a taker. (See pictures of Marceau...
...country. Used-car dealerships have been bombarded by departing foreigners trying to sell their vehicles, but dealers have stopped buying because there's no longer a resale market. "I've got no space; no one has any money; and no one's buying," says one. A government-run auction is doing a brisk business selling vehicles that have either been repossessed or been abandoned by their debt-ridden owners at the airport. Local website classified sections are filled with desperate ads offering entire household furnishings - often practically new - for a song. "Relocation forces complete sale of all furniture and household...
...plans to auction off hundreds of billions of dollars in Treasuries between now and the end of the year. The level of interest that will be paid on this paper will be a litmus test of the market's appetite for debt in the country that has the largest GDP in the world but is well on its way to owing a record sum to its creditors...