Word: centralizes
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...though, we're seeing the downside of this financial internationalization. Many of the mortgages and mortgage securities owned or guaranteed by Fannie Mae and Freddie Mac were bought by foreign central banks, which wanted to own dollar-based securities that carried slightly higher interest rates than boring old U.S. Treasury securities. A big reason the Fed and Treasury felt compelled to bail out Fannie and Freddie was the fear that if they didn't, foreigners wouldn't continue funding our trade and federal-budget deficits...
...putting out fire after fire. Besides having to comprehend and solve the mind-bending financial woes of some of the world's biggest companies, they are also briefing and seeking counsel from CEOs of the surviving companies, never mind President George W. Bush and the two presidential candidates, plus central bankers from around the globe...
...talents from 26 different countries. ShContemporary ranks as Asia's first international art fair, and the fact that it takes place in Shanghai is no coincidence. Shanghai may be in China, but its ambitions have always extended beyond the Middle Kingdom. Note that China's regional bloc with the Central Asian nations - the People's Republic's only formal attempt at international alliance-making - is called the Shanghai Cooperation Organization. Of course it's simply named for the city where it was inaugurated, but the point for proud locals is that the Chinese government chose to host an important international...
...allocation of the earnings of Bolivia's natural gas exports, which originate in their regions. Earlier this year, the departments of Tarija, Santa Cruz, Pando and Beni voted overwhelmingly in favor of opposition-drafted autonomy statutes, but since those referenda were not sanctioned by the national electoral court, the central government refuses to recognize the results...
...While moves towards dialogue and compromise on the sharing of energy-export revenues between the central government and the regions may be in the works, the wounds opened by the latest upsurge in violence will not easily be healed. On the question of the autonomy demanded by the regions, thus far no middle ground appears to have opened up. And neither side appears willing to back down...