Word: banke
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Dates: during 2000-2009
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...February, that means eliminating the family's monthly mortgage payments by selling their Richmond, Va., home and moving into her parents' house near Los Angeles. To make matters worse, their Richmond house has lost so much value, the only option appears to be a short-sell to a bank or foreclosure. (See how Americans are spending...
...Indonesia has also been surprisingly unscathed by the global financial crisis. Though exports are down, the country recorded 4.4% growth in the first quarter of this year. Local banks are unburdened with the kind of debt crippling financial institutions in other countries. A monthly consumer-confidence survey elicited the second highest level of optimism since August 2006. Buoying hopes is S.B.Y.'s choice for Vice President, principled former Central Bank governor Boediono. Investment bank Morgan Stanley is so impressed that it wondered in a June report whether the country should be added to the so-called BRIC club of economic...
...Washington funnels about $50 million a year to Honduras in social and military assistance, much of which the State Department put on hold in response to the coup; and in 2005 it signed a five-year, $215 million development grant for the country. Because of the coup, the World Bank has already suspended $270 million in pending credit for Honduras as well as $80 million it had slated for 2010. The U.S. could also withhold trade, but that's harder to do since it entered into CAFTA, a free-trade pact with all of Central America...
Christopher Foote, a senior economist at the Federal Reserve Bank of Boston, who studied negative equity in Massachusetts during the late 1980s and early 1990s when home prices dropped 23%, argues that most walk-aways are likely driven by the combination of two things: both negative equity and an economic hardship, such as job loss. (See 10 ways your job will change...
...McNamara stepped down in 1968 to run the World Bank. During his 13 years there, he tripled the bank's loans to developing nations and focused its funds on rural development. Perhaps most important, he helped the international community see that the world's poorest citizens needed food and shelter more than huge industrial projects...