Word: building
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Dates: during 2000-2009
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When Congress wrote the Build America Bond program into February's $787 billion economic-stimulus bill, many predicted a flop. Nine months later, the municipal-bond program, which provides a federal subsidy to help states and other local governments raise funds, looks to be one of the economic recovery effort's biggest successes. Earlier this month, the volume of BABs, as they have come to be called, crossed the $50 billion mark...
Observers say Build America Bonds have lowered borrowing costs for states and other local governments. The bonds have renewed and expanded investor interest in the muni-bond sector. And by getting money into the hands of cash-strapped local governments, the bond program has saved or even boosted jobs, stimulating the economy. Many investors are already lobbying to extend the program, which is not expected to close until...
...Build America Bonds have proved popular, they may also end up being costly. Already, the volume of bonds issued means the federal government is committed to spending a billion dollars in the first year of the program alone. The final price tag may end up reaching $90 billion...
...that you allocate money and the kind of organization that you build is very important,” said Hanzich. “Pagliuca is definitely helped by the amount of money that he has in the campaign...
...China. As China tries to move beyond cheap manufacturing, its companies will begin to suffer more from poor protection of intellectual property. Piracy "is still a horrendous problem here and it's alarming for the business community," he says. "It's a win-win, because China wants to build an innovation society...