Word: debts
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...Pricing plain-vanilla mortgage-backed securities (MBS), which are based on thousands of home loans, isn't easy. But MBS are only the tip of the troubled bank iceberg. Lurking below are bonds that are more complicated, and much more difficult to value. Among the most confounding are collateralized debt obligations (CDOs...
...recently decided not to renew the U.S. lease at Ecuador's Manta air base (although, ironically, he said Saturday he would grant U.S. planes limited use of the base at Quito's discretion). Last year he defaulted on some $3 billion of Ecuador's $10 billion foreign debt, saying the loans had been contracted "immorally and illegitimately" a generation ago when the nation was run by dictators...
...collapse of Communism in Poland was precipitated by both economic crisis and political ferment. By 1988, Poland’s command economy, overwhelmed by $6 billion of foreign debt and paralyzed by governmental incompetence, was in serious decline. Workers’ complaints over rising prices precipitated strikes and protests in 1970, 1976, 1980, and 1988. In July, a standoff between miners and the government saw the re-emergence of Solidarity, an illegal trade union...
...funds disbursed to banks to motivate them to extend credit to borrowers and communities: "There was no requirement for recipients to monitor their use of the funds, and it has been widely reported that banks have been "hoarding" the money, acquiring other banks, and paying off debt. Treasury has recently begun to establish periodic reporting guidelines for certain TARP recipients...
...Republicans, Obama showed a tougher side on Thursday, telling House Democrats at a retreat in Virginia that Republicans who have been pushing amendments to add more and more tax cuts to the legislation want to return "to the same policies that for the last eight years doubled the national debt and threw our economy into a tailspin." His growing frustration with the stalemate was echoed by Senate majority leader Harry Reid, who insisted that the bargaining could only go on for so long before he would bring the package to the floor for a vote. "As I have explained...