Word: closing
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Dates: during 2000-2009
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IndyMac will soon earn the first half of its name back. The Federal Government, which seized the failed bank last summer, is expected to close a deal in the next week that would return the California mortgage lender to private ownership. For IndyMac, the deal means independence in less than eight months. For the government, the IndyMac sale provides a shining example of how takeovers can work, at a time when the Obama Administration may soon begin pushing for more nationalizations. (See 25 people to blame for the financial crisis...
...debate involves more than semantics. One concern is that investors aren't going to want to hold any bank shares if the government can simply take ownership, effectively rendering the bank's stock worthless or close to it. An even greater concern is that the government won't be able to resell banks it takes over. That would expose taxpayers to big losses and leave Uncle Sam in the banking business for years to come...
...That was big news if you were hunting for planets but no news at all if you were hunting for life. A planet with enough gravitational oomph to jiggle a star is probably a gas giant like Jupiter, orbiting so close to the fires of its sun that nothing living would have a chance. What biology needs in order to get going is a relatively small, rocky planet orbiting in what's called a star's habitable zone - a place where things get hot but not too hot, cold but not too cold. A place like Earth, in other words...
...crises, it looks like it won't continue at the same pace much longer. California's prisons are so overcrowded and underfunded that a federal judge recently ruled that the state must release roughly a third of its 158,000 prisoners by 2012. The New York State legislature is close to scrapping the draconian Rockefeller drug laws that, by imposing mandatory sentences rather than rehab treatment, have kept many otherwise law-abiding drug users in prison for years. Other states, such as Michigan, New Jersey and North Carolina, are either releasing some prisoners who have served their minimum time...
Western aid groups in Darfur were forced to close clinics and put off a meningitis vaccination campaign Thursday because of the Sudanese government's decision to revoke their registration hours after President Omar al-Bashir was made the target of an international arrest warrant...