Word: bankes
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Dates: during 2000-2009
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...rehiring workers and restarting assembly lines anytime soon. Despite aggressive downsizing by industries like auto manufacturing over the past 18 months, there are fears that the world remains stuck with so much excess production capacity that any recovery will be anemic, plagued by deflationary pressures, high unemployment and ailing bank-loan portfolios. "Unless we deal with the excess capacity situation, we will have a protracted crisis that will continue to wreak havoc on all countries," warned World Bank chief economist Justin Lin in a July speech. (See 10 things to buy during the recession...
...generated through a fundamentally strengthening economy or through artificial means like "Cash for Clunkers" measures. Turn off the tap too quickly before normal demand recovers, and the downturn could persist. "The best way of reducing excess capacity is by not prematurely unwinding stimulus spending," Lin of the World Bank told TIME...
Most bondholders, though, will find it hard to avoid losses. And what will retail investors do once bonds have burned them too? Atteberry thinks many will just put their money in the bank. The trade-off there is a measly return: the highest savings-account rate in the land is currently just 1.83%, according to Bankrate.com and most banks pay far less. Less than inflation. But hey, at least the money's safe...
...charges of slandering President Nicolas Sarkozy in an attempt to improve his chances in France's 2007 presidential election. The trial hinges on a convoluted case--l'affaire Clearstream--in which French officials, including Sarkozy, were falsely accused of stashing kickback money from arms deals in Clearstream, a Luxembourg bank. Villepin, who could face up to five years in prison, said he expects to be exonerated...
...Nasim Ashraf, a Pakistani American who directs the Middle East Institute's Pakistan Studies Center in Washington. While living temporarily in Pakistan, Ashraf ran the National Commission for Human Development, a Cabinet-level post charged with raising key educational and health metrics; he gives higher marks to the World Bank's education effort in Punjab and to less well-funded efforts by other donor countries. (See pictures of Pakistan's vulnerable North-West Frontier Province...