Word: borrowable
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...beginning to wonder if anyone reads basic economics anymore. It has been widely understood for centuries that government does not create wealth; it merely redistributes it. The stimulus plan can be summarized as follows: we are going to borrow a trillion dollars from foreigners and spend it on a mile-long list of pork-barrel projects that we don't immediately need (or else we would have found another way to pay for them) and hope this gets us out of the recession. Stimulus won't solve the fundamental economic problems of this country: decades of low savings coupled with...
...from the gritty streets and auto-parts stores into an indoor world of cheery beige furnishings, swirling red-and-gold patterns on the walls and easy credit. Here, 450 people--mainly women in their 20s--sit side by side in booths and field calls from Russians asking to borrow money. Most of the time, the answer is a resounding yes. Owned by the French bank Société Générale, Rusfinance is aiming to build a massive presence in Russia. Back in Paris, SocGen's chief executive, Frédéric Oudéa, even talks about Russia becoming the bank...
...recent Wednesday, 432 people have called in. Nadezhda Kumyiny is one of them. She's phoning from a small village in the Kursk region, southeast of Lyudinovo. She wants to borrow 30,000 rubles--just over $1,000. The woman taking her call fills in the details on a screen. Experienced workers can process a request and grant preapproval in under six minutes, but Kumyiny can't remember her postal code, which slows everything down. Watching over the process is deputy operations director Viktoriya Selezneva, who says the economic crisis has yet to arrive. "The volume of calls hasn...
...order to make money from the arbitrage - and consequently correct the spread - a company would need capital and storage arrangements for the oil. A firm could borrow money to buy oil in the spot market or the front-month futures contract. More money would be needed to handle margin costs of a short contract in the futures market...
...buybacks. Investors cheer buybacks, because they shrink the number of outstanding shares, boosting a company's profits per share and usually its stock price. But corporate stock purchases also decrease banks' capital, because their earnings are used to purchase shares rather than being retained as cash. Worse, sometimes banks borrow money in order to buy back shares, upping their leverage and lowering their capital at the same time. In the past four years alone, the nation's largest banks, as defined by Standard & Poor's, have spent $300 billion buying back stock...