Word: bille
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Enter Nandan Nilekani, a co-founder of the global IT giant Infosys. Through his focus on global entrepreneurship (his globalization-friendly compadre Thomas Friedman of the New York Times credits Nilekani for inspiring his book The World is Flat and writes "Seattle has Bill ... Bangalore has Nandan"), Nilekani possesses a bird's-eye view of India's strengths and weaknesses. Though inclined to see information technology as a panacea for India's social ills (he admits he fears being deemed "the computer boy"), Nilekani is quick to caution that safeguarding India's growth requires far more than economic prowess. (Read...
...like universal health care and education cease to be continually and fatally stalled. Until then, such optimism will continue to be shouted down by the piercing shrieks of India's present challenges. And as Nilekani concedes, if you are playing a waiting game with India, you will lose. The Bill Gates of India does his best to weave his "safety net of ideas," but resolving India's inherent internal conflicts is sadly easier written about than done...
First, he highlighted a massive new FDIC program to get the banks to sell troubled mortgages. For all the focus on complex securities based on bad loans, the bad loans themselves pose the greatest threat to banks' balance sheets, according to the Treasury department. Bill Gross, chief investment officer of the massive PIMCO bond firm who has been in conference with the government about participating in the plan, estimates the loans pose up to a $1 trillion problem for the banks, and the new program taps FDIC funds to get investors to buy those loans from the banks. Gross told...
...House Speaker Nancy Pelosi has said she'd like to see the matter resolved by the end of next week, though Senate Republicans already blocked a vote on Baucus's bill this week. "Other senators need time to consider the bill," Jon Kyl, the third-ranking Republican in the Senate, said on the Senate floor. "The public ought to have a right to review this legislation to make sure it doesn't have any additional loopholes or unintended consequences...
...there's a problem with the option of doubling the size of the Afghan security forces: Officials inside and out of the Pentagon warn that the bill for setting up such a large force, estimated at $2 billion to $3 billion annually for several years, could prove daunting - more than double the budget of the Afghan government, and way more than could be sustained by Afghanistan's own economy for the foreseeable future. Even U.S. trainers for these new forces are in short supply: the Government Accountability Office, in a report issued earlier this month, said the Pentagon...