Word: deposit
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Dates: during 2000-2009
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...Mikucki of Dartmouth College, set out to look for any such hangers-on at a particularly unforgiving place: Blood Falls, on the East Antarctic Ice Sheet. Blood Falls got its unlovely name due to red staining that comes from a snout on the Taylor Glacier - the result of heavy deposits of iron in its water. In ages past, a fjord ran through the area and brought with it swarms of marine life, but more than 1.5 million years ago the ice began to rise, and a pool of seawater became trapped - and then capped - creating a huge, salty deposit buried...
...comprehensive oversight of derivatives (such as the regulation of credit-default swaps) that would be traded through a clearinghouse. Finally, endowing the government with the power to resolve large, failing financial institutions other than banks would fill the power vacuum plaguing the Treasury, the Federal Reserve, and the Federal Deposit Insurance Corporation as of late. Geithner’s plan is complex and still in its infant stages: Thursday’s proposal left many details up in the air so that productive exchange with lawmakers can occur in the near future. Surely, it will undergo much revision and debate...
...simple explanation for this divide is that the Geithner plan - which calls for Treasury, the Federal Reserve and the Federal Deposit Insurance Corporation to finance the bulk of up to $1 trillion in toxic-asset purchases by private investors - is a great deal for the investors and a big risk for the taxpayers. The math calls for the government to take on most of the downside risk while evenly sharing the rewards with hedge funds, money managers and other buyers. In the loan-buying program, private investors would put up 7% of the capital for a shot at close...
...plan has three parts. Most people have focused on the first part, which is run by the reliable Federal Deposit Insurance Corp. (FDIC) and about which Geithner provided the most detail on Monday. It covers not the complex bundled loans that have received much attention in the media but troubled loans, like mortgages that haven't been paid for three months or more. The plan offers very favorable financing for private investors who want to buy them. In an example provided by the Treasury, an investor would pay as little as $6 for a loan that had an original value...
...Revenue Service is bracing for a deluge of amended tax returns from tens of thousands of victims caught up in the recent wave of multibillion-dollar Ponzi schemes and other frauds, most notably the sensational swindle perpetrated by Bernie Madoff and R. Allen Stanford's $8 billion certificates-of-deposit scam...