Word: banco
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Dates: during 2000-2009
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...This week, the Spanish bank Banco Santandar agreed to hand over $235 million; it had been liable to pay up to $275 million, the total amount its Optimal funds subsidiary had withdrawn in the 90 days leading up to the December 11, 2008, collapse of Madoff's decades-long crime. Santander, the most exposed of the European banks involved with Madoff, with $3 billion lost, is still facing a class-action lawsuit...
Rafael Camarena, a Mexico-City based analyst for Banco Santander of Spain, is convinced that government's strong-arm tactics will prove that Mexican authorities, criticized for ineffectiveness on other issues, can make the tough decisions - even if the virus threat proves to be exaggerated. "The authorities are being decisive and firm. This will help the economic damage be a short term thing and build up confidence in Mexico," Camarena says. However, for many in the service sector, the mayor's crackdown is seen as the equivalent of a nuclear attack on their already struggling businesses. Daniel Loeza, vice-president...
...then, as one of the country's smartest bankers, learned to swim in its prodigious and often corrupt oil industry. But while many of Venezuela's business and financial titans have chafed under the left-wing revolution Hugo Chávez began a decade ago, Vargas and his Banco Occidental de Descuento (Venezuela's fifth largest) have thrived. (See a video clip of Barack Obama meeting Hugo...
...Even shares of some of the biggest and seemingly most solid financial institutions such as Royal Bank of Scotland have been mauled. Some depositors have taken fright, too. A day after the U.K. Treasury announced the nationalization of Bradford & Bingley and the sale of its branches to Spain's Banco Santander, Kusum Patel, a 50-year-old chef from Ilford, a gritty commuter suburb 9 miles (14.5 km) northeast of central London, withdrew all her savings and closed her account, as did several other customers. "They say it's going down. I've been hearing it on the radio," Patel...
...misconception that microcredit is based in philanthropy, some of its lending practices have become lightning rods for debate. In the past few years, a number of MFIs were the focus of criticism after charging their clients extremely high annual interest rates. In perhaps the most famous case, Banco Compartamos of Mexico was found to be charging a rate of over 100% on loans to their customers. In Cambodia, the annual interest rates are somewhere between 30% and 40%, which is still very large. As an outsider, these number may suggest that the banks are stealing from the poor to give...