Word: bankes
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Dates: during 2000-2009
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...interviews, which boosts business for Economy.com On a recent Thursday in Washington, Zandi spent the first part of the morning presenting his outlook for the U.S. economy to a crowd of Moody's clients. Standing at a lectern under fluorescent lights, blinking behind his oval spectacles, he said the bank-bailout plan introduced by Treasury Secretary Timothy Geithner to encourage private investors to buy banks' toxic mortgage assets is a "reasonably good idea" that he thought would work. (Zandi says he would have preferred that the government buy the toxic debt so taxpayers could realize all the upside once...
...woman named Paula, an extremely earnest reporter from the Finnish Broadcasting Company (the "BBC of Finland," as she put it), who was dressed all in black, with a tight blond ponytail. The lights dimmed, a camera was pointed at them, and Paula started firing off questions about bank nationalizations and Barack Obama's budget. "In a perfect world, what would you do to save the economy of this nation?" she asked...
...Hungary has seen the worst: The stark depreciation of the florint in international markets means that over half of the mortgages in the country (denominated in euros, just like everything aimed to tourists in Budapest) have become unpayable. Macroeconomically, the state has faced a similar constraint: Therefore, the World Bank, the EU, and—most notably—the IMF have agreed to provide funding to avoid disaster. On Thursday, it was announced the country would receive over $25 billion of international bailout funds to last through the year. As David Hechlam, a director of the rating agency Fitch...
...This is where the euro should come in. Europe’s currency is a true financial miracle—when it was created just over a decade ago, everyone thought it would fail. Milton Friedman famously predicted it would be a disaster, and the Bank of England had stress scenarios that foresaw a similar end to the monetary experiment. Yet, over ten years later and despite the fact that it was created with a political rather than economic agenda, the currency remains alive and arguably very strong. As with most things in life, adopting it involves a trade...
...this country, they treat people who owe money worse than criminals," says Vila, 49, an employee of a health-insurance company. Earlier this year, she fell behind on her mortgage payments. On March 31, she received a call from an unidentified collection agency that said it worked with the bank who had issued her mortgage and informed her that the next day it would be sending three bullfighters to "take up a collection" on her behalf from her neighbors. "I'm a serious person. I've paid my bills my whole life," says Vila. "This is a really painful situation...