Word: bankes
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Dates: during 2000-2009
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...that point, pressure mounted from regulators, the Federal Reserve and Congress on the Financial Accounting Standards Board to loosen accounting rules so that the toxic assets' book value could be marked up to buttress the banks' balance sheets - conveniently raising the assets' potential sales price at the same time. And in late March, days before the meeting with the bank CEOs, Geithner and Obama unveiled the government subsidies for buyers, drawing big names like Blackstone and Pimco into the market to purchase the assets from the banks and resell them...
General Growth owes billions of dollars to Citigroup (C), Deustsche Bank (DB), and Goldman Sachs (GS). It is very likely that every large money center bank and investment house has loaned money to commercial property owners because not so long ago the value of these assets was rising sharply every year...
...Bank investors has been waiting to see if there is another shoe to drop in the chain of troubled earnings reports. The firms may face more write-offs of toxic assets and pressure from the deteriorating chances that consumers can pay their credit card bills, but commercial real estate may eclipse those problems as the year wears...
...village of La Reforma in eastern Guatemala doesn't seem like the kind of place that would have a first-rate hospital and a handful of mansions. There's no bank, no grocery store and more than 70% of the inhabitants of the municipality that includes La Reforma, called Huite, are poor. But officials tell TIME they suspect a few locals are making a handsome profit by assuring that Colombian cocaine makes it safely through Guatemala to Mexico and then...
...will, believe it or not, eventually get out of the current financial crisis. Then it will face an even bigger challenge: creating a real economy that will be as internationally competitive in the 21st century as it was in the 20th century. All of the recent bank bailouts and mortgage plans will, even if they succeed, build an economic foundation of bricks without straw - ready to crumble - if we don't create a productive economy again. That means creating a workforce that is educated well enough to produce more value per capita than other countries. This will be especially true...