Word: billion
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Dates: during 2000-2009
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Last week, Federal Reserve Chairman Ben Bernanke said the recession is probably over. But that hasn't halted the Treasury Department from continuing to dole out billions of dollars to financial firms. The latest installment came two weeks ago, when the Treasury sent nearly $75 million from the Troubled Asset Relief Program (TARP) to five banks. Community Bancshares of Mississippi was the largest recipient, getting $52 million in federal funds. All told, the government has spent nearly $5 billion in rescue funds in the past three months. Many of the recipients have been small banks. (See TIME's special report...
...firm hired former Wachovia executive Cece Sutton to run its retail-banking division. Last month, Morgan said it would soon be adding more employees in Charlotte and New York to help expand its banking operations. Already the bank has nearly tripled its customers' deposits to just over $100 billion...
...coaching staff and the roster. But 1996 was the last time the 'Boys won a playoff game, and they finished last season with a lackluster 9-7 record. Yet in one respect they still rule - Forbes magazine estimates they're the most valuable franchise in sports, worth $1.6 billion, given the willingness of Cowboys fans to pay up no matter what happens on the field...
...most difficult task for Washington will be boosting the weak and unpopular civilian government, especially in its control over the military. Dire economic conditions have improved over the past year through international assistance. An enhanced $11.3 billion International Monetary Fund rescue package has helped dampen inflation overall, but there is public outrage at wheat and sugar shortages. A further $5.5 billion is on the way through pledges made by the Friends of Democratic Pakistan, a consortium of allies, which will meet in New York next week with Obama, President Asif Ali Zardari and British Prime Minister Gordon Brown in attendance...
...Congress is also working through a bill that would deliver an unprecedented $1.5 billion a year of nonmilitary aid. The money will help support Pakistan's deeply neglected education and social sectors. (At the moment, the country only spends 2.5% of its GDP on health and education combined.) Pakistan also faces chronic electricity shortages. On his last visit, Richard Holbrooke, the Obama Administration's envoy to the region, pledged support. But that effort, along with proposals for a gas pipeline from Iran and Chinese-funded nuclear-energy reactors, will not bear fruit for some time...