Word: banke
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Dates: during 2000-2009
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...estimated 300,000 study abroad every year. Approximately 206 million Chinese children attend primary and secondary schools. Basic literacy is almost universal in China today, while it was roughly 20% in 1949. Still, China remains a poor country by global standards: some 207 million people still live below World Bank poverty levels on less than...
...Some of the answers are technical. Regulatory oversight, almost everyone agrees, needs to be beefed up. There's also an emerging consensus on the need for banks to hold more capital and for their appetite for risk to be curtailed. But bigger issues are at stake too, ones that are more political and philosophical in nature: Should any bank be too big to fail? What should be done with financial activities that seem purely speculative and of questionable social use? How can the short-term, get-rich-quick mentality that drove so much market activity before the crash - and inflated...
...None of this is simply academic theorizing. One year on, public fury about the massive banking bailouts continues to drive calls for greater oversight and regulation. Much of the outrage is directed at bankers who earned huge bonuses by taking outsized risks with complex financial instruments, only to walk away scot-free when their bets went awry, plunging the world into crisis. Bonuses are just one aspect of the larger issue of moral hazard that has been raised over the past year, as governments and central banks have spent tens of billions of dollars of taxpayers' money to rescue financial...
...Reining in the Banks At the World Economic Forum in Davos last January, some participants advocated radical measures to rein in banks, including regulating their operations so heavily that they would turn into low-risk utilities. No, said Jean-Claude Trichet, the president of the European Central Bank, that wouldn't solve the problem. What's needed, he argued, "are air bags, cushions and shock absorbers." Trichet has now detailed what he means. On Sept. 6, a group of central-bank governors and regulators from 27 countries that is chaired by Trichet published specific proposals that he said would...
...take a prize at Venice to grab the attention of the world press. Michael Moore, whose Fahrenheit 9/11 is the top-grossing documentary of all time, shifted his focus to the financial meltdown in Capitalism: A Love Story. Provocative and wildly ambitious, it expands beyond the housing and banking crises of the past year into an epic of malfeasance: capital crimes on a national scale. With enough corporate villains to stock a hundred melodramas, who is the hero? The writer-director-star himself. There he is, attempting to make a citizen's arrest of AIG executives and parking an armored...