Word: bankes
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Dates: during 2000-2009
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...Less than 24 hours after unveiling France's $488 billion rescue plan earlier this week, for example, French President Nicolas Sarkozy met with the heads of the nation's top banks to urge them to extend loans to creditworthy business and households "without delay or additional constraints." Sarkozy pointedly reminded bank presidents that freeing up such funds - a basic necessity for business development and economic growth - was one of the main reasons governments around the globe have pledged trillions of dollars in tax payer money to rescue the financial system in the first place...
...never thought I'd be agreeing with Republican Senator Richard Shelby from Alabama, but my assessment of the current bank bailout conforms with his response: No! Invest in infrastructure, home weatherization, worker-retraining, green-collar jobs and whatever will move us away from our oil addiction. Rather than doubling down on our already obscene national debt, we should face up to letting the chips fall and reorganizing our lives and economy around a sustainable paradigm. Bruce Garver, MURRIETA, CALIF...
...retreat from confrontation like a herd of Stan Laurels. Opposition parties have pledged for now to support the government's efforts to end the turmoil, but are itching to emphasize Brown's own role in creating it. "When he rewrote financial regulation in 1997, Gordon Brown took away the Bank of England's power to call time on the build-up of debt," Conservative Shadow Chancellor George Osborne tells Time in a rare frontal attack. "The result is that we now have the most personal debt of any major economy ever...
...marvels former Home Secretary David Blunkett. One reason is that Brown has shifted blame to greedy bankers (he inveighs against "the age of irresponsibility") and to America's subprime mortgage debacle. "It is pretty clear to me that this problem started in America," Brown declared as he unveiled the bank bailout. The idea of a global contagion originating in a distant country ties in with his long-term campaign to reform international institutions to meet the challenges of a globalized economy...
What a difference a week makes. With their coordinated response to the international banking crisis, European governments - followed by the U.S. - appear to have calmed a worldwide market panic and eased fears of a devastating series of bank collapses. Investors from Tokyo to Tunis immediately sent stock prices shooting up again after a week of historic losses. But it's still far too early to celebrate. The measures need to prove their effectiveness by unfreezing lending. And there's still the huge challenge - no less urgent than fixing the banking system - of preventing an economic slump...