Word: crunch
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...Already, the effort to repay TARP is boosting the cost of borrowing for some banks. That's because banks have to regularly issue bonds in order to have money to make loans and underwrite securities. This became much harder to do during the credit crunch, so the government began allowing banks to offer bonds that are insured by the Federal Deposit Insurance Corp. (FDIC). With the government's backing, banks were able to raise money. (See 25 people to blame for the financial crisis...
...materials. In the case of oil, supplies have been reduced by OPEC cutbacks. And commodities traders are bidding up market prices in general on expectations that supply shortages will return with just a modest improvement in demand. That's because miners, farmers and oil drillers, hit by the credit crunch, can't finance investments that would increase their production capacity. Many won't invest today even if they have access to financing because depressed prices make projects uneconomic. The amount of investment in the oil sector, for example, will likely be 30% lower in 2009 and at least 40% less...
...Sins of the Father The Maldives' coffers, though, are perilously low. In part that is a consequence of the global downturn, which has hit international tourism hard. The crunch was exacerbated by profligate spending in the final years of the Gayoom regime, as it sought to cement votes with new infrastructure projects. In February, Nasheed's government moved to auction off some of the former ruler's more extravagant state possessions, including a personal yacht, a private pleasure island and a gold-plated toilet...
...Haven, Conn., at night after a total of an hour and a half of flight training. Buckley also smoked, drank, ate peanut-butter-and-bacon sandwiches and took pills by the fistful. He was a reckless sailor who crossed three oceans--his terrified crews nicknamed him Captain Crunch. He abominated seat belts, and in his later life he developed the unnerving habit of urinating out the open doors of cars going at full speed. Buckley, an icon of the modern conservative movement, died last year at 82 from a heart attack. It's amazing that he lasted as long...
...October, short over half the money required to go to press due to a nationwide crunch in advertising, the recently-revived publication faced the possibility of being unable to print its magazine...