Word: bankes
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Dates: during 2000-2009
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...Spotlight: Bank Failures...
...other signs that overseas resentment of the burger giant has softened. A McDonald's is slated to open in November in a shopping area beneath one of France's most treasured cultural meccas - the Louvre - but the news has hardly caused a stir in the City of Light. Bank employee Laurent Mortin told the New York Times he didn't have a problem with the American import: "It's more of a real lunch than eating a sandwich in the street, and it doesn't take as much time as sitting in a restaurant...
Wilson's shipping restrictions were terminated in 1921, and the U.S. remained national-emergency-free until 1933, when Franklin Roosevelt proclaimed a national emergency so that he could institute bank holidays. Roosevelt never formally ended the emergency, and in 1973 an astonished Senate committee discovered that, technically, it was still in effect - along with three other so-called emergencies that collectively had activated 470 provisions of federal law. For 40 years, the U.S. government had accidentally authorized the President to seize property, control production, institute martial law and restrict travel at any time. Congress rectified this oversight with...
Delays are happening in part because a recession is not a great time to buy a bank, and the FDIC is having trouble finding acquirers for troubled institutions. The FDIC could liquidate a failed bank or run it itself, as it did late last year with IndyMac. But those options tend to be even costlier. Meanwhile, "bad banks are more like fish than wine," says Bert Ely, a bank-industry consultant and an FDIC critic. "They get smellier with...
...Chicago, where he teaches. (A video of the interview is at time.com/levitt.) Aside from the complexity, there's a crucial data limitation. "We have one macroeconomy," Levitt explains. "We get to watch the world unfold once." That means we have no way of knowing for sure whether the bank bailouts, to name one topical example, helped the economy or hurt it. (See the top 10 financial-crisis buzzwords...