Word: banking
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Disillusioned by the administration's corruption, Paulson joined Goldman's Chicago office in 1974. His rise in the investment bank was meteoric (he made vice president within four years), and in 1998 he became co-CEO alongside current New Jersey Governor Jon Corzine. Paulson presided over the firm's immensely profitable IPO in 1999 - an offering to which he had long objected - and reaped the dividends immediately. Overnight, his holdings in Goldman rocketed from $95 million to $315 million. Though his ascent to Treasury Secretary in 2006 was by all accounts a promotion, it was nonetheless a sharp blow...
...time to pull my money out of the bank and put it under the mattress...
...time to make sure you don't have more than $100,000 in any one bank. The FDIC insures that amount should your bank fail--plus $250,000 for retirement accounts that hold bank products like CDs. On Sept. 16, however, there was an event in the normally unexcitable world of money-market funds. Because of a loss on Lehman debt, a money fund marked its share value below $1--sacrilege for an investment meant to be akin to cash. A mass redemption followed. If more money funds "break the buck," you may be tempted to move to FDIC-insured...
...company that holds your mortgage fails, your loan, along with all others, will be assets in a bankruptcy proceeding. Chances are, some bank will come along and buy the loans, and then you'll have to mail your mortgage payment to a new address. That's it. The callable mortgage--in which a lender can demand its money back--pretty much ended with the Great Depression...
...babies in clinics, where nurses can monitor their work. An hour east of Freetown, I visited a village where local elders had just passed a law requiring all women to give birth at a clinic or face fines of about $8--more than the clinic fee. And the World Bank, UNICEF and the British government's Department for International Development have agreed to jointly invest $262 million over the next three years to overhaul Sierra Leone's shambolic health system. "We will lose two or three more generations," says Geert Cappelaere, UNICEF's representative in Freetown. "But the core message...