Word: cushions
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Dates: during 2000-2009
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...second layer of diversification requires reducing overall dependence on trade by promoting domestic consumption and expanding service sectors. Park Chung Hee's growth model discouraged investment in domestically focused sectors and consumer spending - both of which could provide a cushion to Asian economies in global downturns. Vestiges of his biases remain, to the detriment of the South Korean economy. For example, South Korea hasn't developed the kind of social services, such as day-care centers for the children of working parents and homes for the elderly, that would relieve some of the financial burdens on working-class families...
...exited on the starboard side of the plane, three or four rows behind my seat through a door over the wing and was, I believe, the 10th or 12th person out. I took my seat cushion as a flotation device and once outside saw I was the only one who did; none of us remembered to take the yellow inflatable life vests from under the seat...
...Capital cushion: The good news for Wells is that it has been aggressive in identifying problem loans - $37 billion from Wachovia alone. Wells officials argue that will lead to lower losses than its competitors'. But if not, the bank could be in trouble...
...Capital cushion: JPMorgan has $23 billion in its rainy-day fund for such losses. Not enough. Shareholders' equity will drop to $121 billion, from the current $167 billion...
...Capital cushion: BofA has put away $23 billion to cover future losses, and it has more equity - $177 billion - than JPMorgan or Citigroup. But that might not be enough to preserve it without government help...