Word: bankes
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Dates: during 2000-2009
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...your bank broke? Probably...
...That likely means no big bank will be deemed too stressed to survive. The official says the Treasury does believe some of the banks will need additional capital to make them stronger, and in all likelihood the government will identify those banks. (See TIME's photos of the G-20 protests...
...bank stress tests are considered one of the key components of Treasury Secretary Tim Geithner and President Barack Obama's plan to fix the financial system. They are designed to determine which banks would fail and which would survive if the economy worsens, as some economists expect. But when they were announced in mid-February it was not clear what the government would do with the information collected. Would it shut down a troubled bank...
...first, the Treasury Department said it might not release the specific bank results. Observers assumed that Treasury officials were nervous that if a bank failed the test customers and investors would flee. But in the past few weeks the Obama Administration has started to believe that the market is doing a good job of differentiating between good banks and problem banks, according to the Administration official. That belief, the official says, gives the Treasury the confidence that it can release individual results of the stress tests without disrupting the market, or unduly forcing a bank out of business...
Meanwhile, the country has for now managed to avoid the worst of the global financial crisis, thanks to the conservative policies of its central bank governor, Riad Salame, who banned the exotic financial instruments and over-leveraged practices that became common in the rest of the world. While Salame took office before President Suleiman came to power, the validation of his banking policies are adding further shine to the reputations of the country's non-partisan officials. Suddenly, Lebanon feels like an island of stability in a world upside down...