Word: cash
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...During the savings and loan crisis in the late 1980s and early 1990s, 747 banks and S&Ls failed. Taxpayers pay to protect bank customers' money, as is true with any bank failure involving FDIC-insured deposits. A taxpayer with $100,000 of insured cash in his local bank might get lucky. If the firm goes under and his deposits are saved by the FDIC, his years of paying taxes will come back to him with a profit...
...number of banks being put through the system probably will not make the grade. These will have to raise more capital. Since private money is not abundant, the cash will come from the government and that means the U.S. will end up owning significant pieces of the largest banks. It may be able to sell those interests back into the private market at some point in the distant future. The taxpayer could even end up with a profit, but it never works that way. The money gets diverted by a Senator who needs to build a damn in Oregon...
...Gono insists that he "had hardly printed money, yet the growth in the money supply was phenomenal," blaming stockbrokers for generating inflation. He went on to describe a covert mission last November in which he used secret agents to buy stocks that he then demanded be converted into cash. When the stockbrokers couldn't produce the sextillion Zimbabwean dollars, he shut down the whole thing...
When Florida legislators recently struggled to balance the battered state budget, they decided to plug holes with $190 million from a $300 million affordable-housing trust fund. After all, why should a cash-strapped state shell out money for new home construction when there are tons of vacant homes just waiting to be snapped up? One of the few benefits of a housing crash, theoretically at least, is supposed to be that home buyers who were previously priced out of the market might finally be able to afford a place of their...
...politician traveling in Africa for a charity event when the loss of your wallet leaves you stranded without cash or credit cards. Who you gonna call? Would you mass-e-mail voters back home begging for a quick loan? Hundreds of constituents of British Cabinet minister Jack Straw found this message waiting for them. "I misplaced my wallet on my way to the hotel where my money and other valuable things were kept. I would like you to assist me with a soft loan urgently with the sum of $3,000 US Dollars to settle my hotel bills...