Word: bankings
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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...
...threatened to ban 15 senior officials from the U.S. for their failure to push through reforms after bloody post-election violence in early 2008. Even worse for a cash-strapped Kenya, the U.S. promised to scrutinize the government's requests to the International Monetary Fund (IMF) and the World Bank. This is not the close friendship that Kenya had in mind when Barack Obama, a man whose father was born in Kenya, won the U.S. presidency. Kenya declared it a national holiday when Obama's victory was announced, and his visage is ever present here - on gum wrappers, in airline...
...Administration, which was critical of the government's handling of the violence. Indeed, if the travel bans are enacted, Kenya would join the company of Zimbabwe and Sudan in being countries with officials who are not allowed entry to the U.S. And the last time the IMF and World Bank suspended loans to Kenya was in the late 1990s, under Moi's dictatorial rule. All this comes at a trying time for the country. The Kenyan economy has been hobbled by the post-election violence and a punishing drought. Staff who conducted a recent census have been unpaid...
...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...