Word: crunch
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...notion of a bailout for Main Street didn't have enough hurdles to overcome, Obama may also need to ask for upwards of $50 billion more for the already approved bank bailout to deal with the continuing credit crunch. Considering that nine Democrats disregarded Obama's personal appeal last week and voted against giving his new Administration the second half of the $700 billion allocated by Congress in September, adding $50 billion more to the stimulus could poison the well for Dems adamantly opposed to further aid for Wall Street...
Droves of applicants are jockeying for graduate school admission in hopes of avoiding the job crunch during this economic recession. But the nation’s top universities say that they are unable to open up more spots for Ph.D. students, since their hard-hit endowments cannot fund additional graduate student fellowships...
...Indeed, despite India's economic slowdown, even companies not flirting with bankruptcy are being pressured to avoid staff cuts. When Jet Airways, one of India's biggest airlines, tried to lay off 1,900 employees in October amid a deepening financial crunch due to high fuel prices, India's Aviation Minister called Jet Airways owner Naresh Goyal, who rescinded layoff notices within 24 hours...
What a difference a credit crunch can make. In the past year, the FDIC has become the most active dealmaker in the banking industry, taking over 25 banks in 2008, up from just three the year before, and auctioning them off to the highest bidder. Its chairwoman, Sheila Bair, who was early in warning about rising foreclosures, has become a key policymaker in helping resolve the nation's financial crisis. At her urging, Congress in October upped the limit on FDIC insurance, albeit temporarily, to $250,000 from $100,000. The agency is staffing up too, and plans to hire...
...Selling failed banks is never a profitable business. But recently, as the credit crunch has gotten crunchier, the cost of cotton-balling kaput countinghouses has gotten a lot costlier. The FDIC had an average loss (based on deposits) of nearly 30% for the 23 bank deals it did in 2008, for which the FDIC released details, according to financial industry consulting firm Ely & Co. That is more than double the average loss of 13% the agency registered on bank rescues in the 17 years prior...