Word: closing
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Dates: during 2000-2009
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...plan to close off Europe to managers or funds outside the E.U. that aren't subjected to equivalent regulation - a provision that would kick in three years after the rest of the legislation, giving jurisdictions and managers time to adapt - promises the most significant change. The E.U.'s approach is understandable. If you want to protect European investors, it's no good regulating domestic fund managers if those selling to investors from outside the region aren't obliged to respect similar rules. But while U.S. efforts are underway to bolster the policing of hedge funds - and the meaning of equivalent...
California is the poster child for dysfunctional state finance. A week past the legal deadline for passing a budget, the state has yet to close a $26 billion hole. State workers are - yet again - being told to stay home. The National Park Service is threatening to take back parks it gave to California should the state try to save money by closing them. Taxpayers are getting IOUs in the mail instead of refund checks since there's no cash to pay them what they're owed. You can now buy the IOUs on eBay...
...there could be plenty more pain ahead. Revenues - from income, sales and property taxes - continue to fall. True, states have already plowed through a lot of tough decisions to close the $102 billion shortfall they collectively faced during the last budget cycle. But already it looks like this year's gap will be $121 billion, according to a report from the National Conference of State Legislatures...
...possible way out, diplomats close to the Honduran talks tell TIME, is to move up the nation's November presidential election and January inauguration. Zelaya could return to power, but only on the condition that he not try to alter the constitution, especially its ban on presidential re-election. The Honduran crisis was sparked when Zelaya made noises about giving presidents a second term - a sign to many Hondurans that he wanted to take them down the path of his left-wing allies, like Venezuelan President Hugo Chávez, who recently won a referendum that allows indefinite re-election...
...money is made, who is running rule of law, who do they go to when they have dispute adjudication - do they go to a Taliban shadow court, a government of Afghanistan official entity? So you try to look at a whole range of things. There are some overt indicators, close of traffic, commerce, people's ability to interact. Then there are many more that are subtle - you have to get at the attitudes of the people. And that is why I say you have to immerse yourself in it and understand it before you can confidently assess it. (See pictures...