Word: corruption
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Dates: during 2000-2009
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...Indeed, with mortgage securitization, at least banks intervened in the right to property by way of extending mortgage credit to those otherwise unable to own a home; however corrupt the practice was in hindsight, at least a positive externality existed. But, life insurance securitization is far worse, an encroachment on Locke’s natural rights: life and liberty. To sell a financial underwriter your life insurance policy is like circulating a trading card among investors—one that cashes in when you die. Until then, it merely functions as a liability for the underwriter and investors, equally...
...good old days, Afghan President Hamid Karzai would dial into a weekly videoconference call with his buddy George W. Bush. No longer. The Obama Administration cut Karzai's direct access to the White House earlier this year. The new Administration views Karzai's corrupt and flailing presidency as a big reason that the Taliban and al-Qaeda are regaining so much ground in Afghanistan...
...instructive and appalling; and if they meander off the immediate talking point of the trillions the banks took in bailout money last year and the billions they made in profits this year, they bolster Moore's belief that no one should have been surprised by the collapse of a corrupt system, and the ingenuity with which the big-money boys land on their feet while stepping on ours. He must also have thought that many in his audience would be familiar with the shuttle of heavy hitters between Goldman Sachs and recent Administrations, Republican and Democratic. Moore does summon University...
...Blame it on Françafrique, the name given to the relationship between successive governments in Paris and the client regimes that arose across Africa as France swapped colonial control of nations in exchange for arrangements conducive to French political and business interests. For decades, Françafrique produced corrupt and brutal yet stable African partners for France and helped Paris fend off the rival influences of Britain, the U.S. and more recently China. Typically, the authoritarian African leaders who gained from this relationship grew magnificently rich as their people, inversely, became impoverished. And no ruler was more iconic...
...region as part of a nearly 20-year intermittent struggle inaugurated by the collapse of the Soviet Union. Malashenko and Gregory Shvedov, the editor-in-chief of Caucasian Knot, an Internet news site that has drawn unwanted attention from authorities, attributed the bloodshed to Islamic extremism and corrupt government officials in Grozny, the Chechen capital; Makhachkala, the Dagestani capital; and Magas, the Ingushetian capital. "There is no access to any freedoms, political and civil freedoms, including religious freedoms, which is fueling the situation," Shvedov said...