Word: baile
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...kidding me? "Oh, you betcha," she said - and one might even argue that you betcha is American for "Yes, we can." At least, in a certain sort of America: the land of simple truths, where nothing Barack Obama does makes sense. I mean, why bail out the big banks when they're the ones that caused all the troubles in the first place? And why spend more money when you're already running a deficit? That's not what Americans do: they sit - inevitably - around the kitchen table and tighten their belts. And what's all this about global warming...
...billion residential complex represents the risks that urban governments face when trying to host one of the world's biggest parties. The city planned to invest about $47 million in the project back in 2006. However, cost overruns and the recession forced Vancouver to step in and bail out the private developers who were charged with financing the project. The city avoided the humiliation of welcoming the world with a half-built Olympic Village, but at a great price: in early 2009, new Vancouver mayor Gregor Robertson declared that taxpayers were "on the hook" for the $1 billion project. "What...
...Lehman wasn't alone. Merrill Lynch lost nearly $20 billion on investments in collateralized debt obligations (CDOs). Morgan Stanley had a nearly $4 billion loss in proprietary trading in the fourth quarter of 2007. Goldman Sachs spent $3 billion to bail out one of its hedge funds. And Citigroup has poured more than $3 billion into fixing its problems with structured investment vehicles, investments the bank set up with its own capital. Like Merrill, Citi lost big - as much as $15 billion, on the CDOs it decided to hold rather than sell off. In fact, nearly every large financial firm...
...emphasis on free trade, a total reversal of his party's traditional positions on nuclear power and offshore drilling. In Baltimore, Obama reminded the Republicans that his $787 billion stimulus package had comprised elements they'd normally support - a $288 billion middle-class tax cut, $275 billion to bail out financially strapped states and an extensive infrastructure plan. "A lot of you," he noted, dryly, "have gone to appear at ribbon cuttings for the same projects you voted against." (See pictures of Barack Obama's first year in the White House...
...more than two decades in China, I have seldom seen the foreign business community more angry and disillusioned than it is today. Such sentiment goes beyond the Internet censorship and cyberspying that led to Google's Jan. 12 threat to bail out of China, or the clash of values (freedom vs. control) implied by the Google case. It is about the perception that antiforeign attitudes and policies in China have been growing and hardening since the global economic crisis pushed the U.S. and Europe into a tailspin and launched China to its very uncomfortable stardom on the world stage. (Read...