Word: creditably
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Early last Winter, when the west was suffering the first casualties of the credit crisis, sovereign wealth funds (SWFs) rode to the rescue, providing over $40 billion in capital to some of the largest of the faltering U.S. and European banks. The U.S. government - reluctant to bail out banks directly - welcomed this infusion, even though SWFs are investment arms of foreign governments and American politicians are often suspicious of outsiders acquiring stakes in key domestic assets. So instead of a bailout of financial institutions by American taxpayers, we saw a foreign-funded bailout...
...mortgage losses continued to mount and the credit-crisis snowball rolled on, private equity, with some SWF support, took on the role of recapitalizing regional banks. Yet there's still no end to the crisis in sight. On July 11, U.S. regulators shut down IndyMac Bank, the second-largest largest financial institution to close in U.S. history. If current estimates are right and more losses are coming - Goldman Sachs says U.S. and European banks may need another $200 billion - where's the money going to come from to keep the financial system functioning...
...Know and Take a Chance on Me. Seyfried, from the HBO series Big Love, is in full control of Sophie, the film's one sensible character. And Streep comes back to earth in a handsomely calibrated rendition of the power ballad The Winner Takes It All. By the end-credit sequence, when the stars appear in spandex outfits to reprise Dancing Queen, the audience may be singing along as if they'd overdosed on ouzo...
...catastrophe in financial markets. But it hasn't fixed the problem that started the crisis: the fact that a few million Americans got home loans they can never pay back. The resulting foreclosures have been driving housing prices down and forcing lenders to retrench. The result is less credit for heavily indebted American consumers. In the second quarter of 2008, this credit crunch was counteracted by $78 billion in stimulus checks--yet another of those government interventions. That boost is petering out. The likeliest next step, while not the Great Depression, is a recession that even Gramm will have...
Starting in 2000, the IRS went after records from American Express, MasterCard and Visa to track the spending of U.S. citizens using credit cards issued in Antigua, the Bahamas and the Cayman Islands, leading to hundreds of audits and criminal investigations. In a landmark 2005 case, the accounting firm KPMG admitted its employees had criminally generated at least $11 billion in phony tax losses, often routed through the Cayman Islands, which cost the U.S. $2.5 billion in tax revenue...