Word: bankes
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Dates: during 2000-2009
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...financial piers supporting lifetimes of accumulated wealth have simply vanished. This week, people everywhere are preparing to celebrate the New Year, while Madoff's victims are looking over their bank statements and credit card bills, asking themselves one question: How long can we hang on? (See the 10 worst business deals...
Just before U.S. markets went into meltdown and venerable financial institutions teetered or collapsed, several of Iraq's 18 provinces, including Diyala in the northeast, suffered their own cash crunch, literally running out of cash. Bank notes. Bills. Some public-sector bank branches, mainly in Diyala, ran out of physical bank notes because of a combination of unforeseen demand and a lapse in importing new currency notes from printers based overseas. It is the latest inefficiency to stymie the country's long-delayed reconstruction efforts...
Iraq's coffers may technically be burgeoning with billions of petrodollars, but over the summer, the vaults of some branches of the country's two main state-owned commercial banks, the Rafidain and Rasheed, were empty. A kink in the supply chain owing to miscommunication among several financial bodies meant that the flow of physical bank notes to some provinces like Diyala was reduced to a trickle. There was no shortage of cash on the streets of the province, but government pensions and salaries were delayed, as were payments to contractors, who in turn didn't have the cold hard...
...crunch," as central-bank governor Sinan al-Shibibi described it, lasted for several months and was only recently rectified. "We had some temporary problems," he said, explaining that they were precipitated by the government's public-sector pay raises that took effect in July. "There should be more coordination between the central bank and the government to assess and to project for the demand for currency by the government." That is quite the understatement...
...strike knowing that Hamas would respond with a fusillade of rockets, possibly using some of the longer-range weapons smuggled into Gaza over the past year to strike Israeli towns such as Ashdod and Ashkelon. Hamas may even activate suicide-bomber cells in East Jerusalem or the West Bank. Israel had prepared for the first possibility by deploying additional air-raid protection in towns as far as 25 miles (40 km) from the Gaza border. And it will probably follow up the air strikes with ground attacks aimed at neutralizing as much as it can of Hamas' military capability...