Word: currented
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...which a National Asset Management Agency (NAMA) would be created to remove the unpaid, property-linked debts from the banks' balance sheets. If approved by Parliament, which appears increasingly likely, NAMA would spend some $81 billion of taxpayer money to buy loans worth an estimated $70.5 billion at current market value. The so-called bad bank, as NAMA is sometimes called, will then manage the loans on behalf of the state for the next decade, by which time, the government assumes, the country's property market will have recovered. This assumption also explains the $10.5 billion markup...
...citing the concerns over the risk of global cooling, which were held briefly by some scientists in the early 1970s - that's a common trope for climate contrarians, who say that if concerns over cooling turned out to be false, maybe the same thing will come of the current worries over global warming. They go on to question the accuracy of today's climate models, and by extension, whether we should really be concerned about potentially catastrophic temperature increases over the coming century. They further point out that plants may indeed thrive in a future with higher carbon dioxide levels...
Human rights organizations say fishermen also face the possibility of arrest while at sea. Several fishermen who spoke to TIME, say their boats were confiscated from within the current three mile limit in recent months; members of their crew forced to swim to nearby Israeli navy vessels, and then taken to Israel for questioning. "The Israelis took my boat five months ago, when it was about three kilometers out to sea," says Subhi Abdallah, a 60-year-old fisherman whose son was arrested when the boat was taken. "They took my son to [the Israeli port city of] Ashdod...
...thirds rule, limits on ballot initiatives and a new system of taxation. Schwarzenegger is pushing for a gargantuan water-sharing agreement that could help prevent the state from running dry. And his potential successors are also formidable go-getters with forward-thinking credentials - including former governor and current attorney general Jerry Brown, golden-boy San Francisco mayor Gavin Newsom and former eBay CEO Meg Whitman. Brown, the early front runner, was widely mocked as Governor Moonbeam back in the 1970s, but some of his ideas - including energy efficiency, as well as the emergency-communications satellite that inspired his nickname...
...probably heading for another asset bubble and more financial turbulence," Qin Xiao, chairman of China Merchants Group, wrote in Thursday's Financial Times. Qin said he didn't think "a quick, steep bounce driven by fiscal fixed investment is a good thing for China," adding that the current loose monetary policy should shift to neutral. On Thursday, Hong Kong's Hang Seng Index dropped by 0.5% and the Shanghai Composite Index fell 0.6% on concerns that China would begin to tighten monetary policy in response to fears of expanding bubbles in real estate and financial markets. (See pictures of China...