Word: banke
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...developing world still must cope with the prospect of lower economic growth in the months ahead that could compound problems for countries that are already struggling. Although prices for oil and other commodities have declined recently, they remain at unusually high levels. Justin Lin, chief economist at the World Bank, says his organization is preparing lending programs to help ease the burden of high food and fuel costs for developing countries. "They still need to have the support, in order to protect the poor," Lin says. But it's unclear how widely available such programs will...
...there are still many unanswered questions as to how the plan can restore confidence. And for consumers, the effect of the latest move will be hard to gauge, since it is designed merely to ease the sting of the coming economic recession - meaning there will still be job losses, bank closures and business failures...
...plan calls for Treasury to inject billions of dollars into the banking system. Paulson is requiring the nine biggest lenders in the country - including Bank of America, Citigroup and JPMorgan - to sell $125 billion of preferred shares to the taxpayer and to commit in return to lending out much of that money. That should have an immediate effect in reviving the lending business. Treasury is making another $125 billion available to smaller banks on the same terms...
...other significant parts of the new plan are funded from other sources, and won't add to the taxpayer tab. The Federal Deposit Insurance Corporation (FDIC) will guarantee certain bank accounts - those mostly used by businesses for payroll and other expenses - above the current $250,000 limit. The FDIC will also guarantee lending between banks by creating a new kind of debt. The FDIC is calling this program a "Temporary Liquidity Guarantee...
...bank on the fact that you'll grow exponentially more irresistible the farther you travel from home. But here are a few extra tips to boost your chances of a foreign affair...