Word: cabinets
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...recapitalize banks using taxpayer money. Only then will confidence in the financial system return, ending the current paralysis in lending that threatens the entire economy. "Taking nonperforming loans out of the balance sheets is not enough," says Jun Saito, director general of the economic-research bureau for Japan's cabinet. "What we've learned [in Japan] from the 1990s is that we need recapitalization...
Kent County Council, controlled by the opposition Conservatives, tops the list of local government bodies looking to retrieve investments in Iceland: $85 million of its total budget of $4.42 billion is stuck in Icelandic accounts. Nick Chard, the council's cabinet member for finance, says he and his colleagues chose its banks in line with government rules about spreading risk by placing deposits with a range of institutions. Those rules also stipulate that councils should try to obtain as high a return as possible and should always check the credit ratings of the institutions. "At the time of making...
This past summer a new novel burst onto the children’s literary scene. A story set in an enchanted world where man can manipulate matter with only his mind, “The Cabinet of Wonders,” written by Marie K. Rutkoski, relates the story of a 14-year-old girl named Petra who seeks to recover her father’s eyes from the prince of Bohemia. This past Tuesday, Rutkoski returned to Harvard, where she earned her Ph. D., and spoke with The Crimson about the limits of fantasy, the maddening appeal of Henry...
...Lekota's announcement will not dislodge the ANC, with its formidable branch network and massive membership, from its dominance of South African politics. Nor did Lekota specify how many ANC members he would be taking with him. Six cabinet ministers and several regional ANC leaders resigned their positions in the wake of Mbeki's departure, but it is far from clear whether Lekota has their support, or even that of Mbeki...
...over doubters to a plan that could cost British taxpayers dearly, though he promises they may eventually earn dividends from the investments backed with their own money. Yet the crisis has had a bracing effect. A recent mutiny against his leadership in Labour ranks evaporated after a bold Cabinet reshuffle, and rebels shrank back from a coup attempt at such a tense time. "Who would have dreamed that a financial crisis would have given Labour a lifeline?" former Home Secretary David Blunkett wondered aloud at a drinks reception on London's South Bank, as across the river Treasury officials sweated...