Word: bankes
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Dates: during 2000-2009
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...would say, 'What can I do for my brother? What can I give the children?' " Rwaramba said. She also testified that she was "flabbergasted" when the sheik wired her $35,000 because Jackson was so broke that he did not even have a bank account. She claims the sheik apologized for what he considered a paltry sum of money and said that "next time it would be more." Jackson reportedly used the money to pay his utility bills at Neverland...
...contender to be Obama’s Treasury secretary, Summers, who led the Treasury under President Clinton from 1999 to 2001, will be advising the president on both domestic and foreign economic policy. He will likely be working closely with Obama’s nominee for Treasury secretary, Federal Bank of New York President Timothy F. Geithner, who reportedly maintains an excellent relationship with Summers. The position is considered to be a stepping stone to the Federal Reserve chairmanship, which is currently held by Ben S. Bernanke ’75. Richard Zeckhauser, Summers’ close friend and colleague...
...economists: Jeffrey Sachs notes that migration “will never substitute for economic development at home.” But Pritchett is one of the few who has explored how big of a punch higher immigration rates can pack. In a recent book, Pritchett cites a 2005 World Bank study which claims that if the 30 developed countries in the Organization for Economic Cooperation and Development (OECD) permit just a 3 percent rise in immigration, the gains to citizens in developing countries would be about $300 billion. Right now, the developed world spends about $70 billion in foreign aid?...
...decades, is different. It remains a unique mixture of raging, visible capitalism resting on a foundation of state-owned enterprises, which, the Merrill report points out, still account for 33% of industrial production and 45% of investment in China's cities. Beijing also still holds sway over its domestic banking sector, particularly in times of crisis that threaten the Party's power. "On the outside, China's banks do look a lot more like normal Western commercial banks," says one investment bank analyst with a decade of experience in China. "But every single senior officer - right down to the manager...
...bubbling property market, authorities conveyed to potential house buyers that they would be wise to hold off. "The government basically said, 'You'd be a complete idiot to buy an apartment right now because we're going to make sure that prices drop like a stone,'" says the investment bank analyst. "Now the government is telling them it's not just okay to buy, it would be a great time to buy and the banks will be happy to lend to you. Of course people will start buying again." In other words, having deliberately caused much of the problem...