Word: bankes
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Dates: during 2000-2009
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...dollars, countries like China would have less incentive to run big trade surpluses with the U.S. This line of thought goes back to English economist John Maynard Keynes - the source of seemingly every important economic idea of this crisis-racked time - who first proposed what he called "supernational bank money" in 1930. During the economic turmoil of his day, he kept refining the idea and proposing odd names for the currency - first "grammor" and then "bancor." (He rejected a colleague's suggestion...
...Chinese are not likely to be deterred, because the opportunity to buy energy and minerals this inexpensively may be historic. That's why the China Development Bank and China Petroleum & Oil Corp. last month invested $10 billion in Petrobras, Brazil's state-owned oil company and the prime operator of one of the most promising new offshore fields in the world. The deal gives Petrobras capital to further develop the field. In return, China will get 100,000 bbl. to 160,000 bbl. a day for more than 20 years. And just before the Brazilian deal, Beijing agreed to lend...
...blight. Salvador's father-in-law Alejandro, an undocumented immigrant who owns a home in St. Helens, says the Anglos who target him hurt themselves. "I own this house and am making my mortgage payments on time," he says. "But what happens if I lose my job? Then the bank takes my house, and this place becomes the city's problem...
...necessarily equal one job free for an American. "For every job that comes into an economy or leaves, there is a part of another job that comes or leaves with it," he says. In other words, if Salvador and his father-in-law leave, it isn't just the bank that would see its revenues go down. So would the Safeway down the street from their house and the Ace store where they buy spark plugs for their car and hardware for their home. These may be slight hits, but businesses are working on rail-thin margins, and even small...
...taxi on the way to the Park Hyatt hotel in Washington, where he was making a presentation to a bank-industry group, Zandi turned to the driver. "How's business?" he asked...