Word: deposited
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Dates: during 2000-2009
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...couldn't find work in the field. She was recently hired as a security guard, earning $11 an hour. But that's hardly enough to afford even a $600 a month studio apartment. Larger units are beyond her reach. "They want the first and last month's security deposit" which is, she figures, about $2,000, maybe $2,500. "It really...
...course, the above describes the lavish world of financer R. Allen Stanford, a near Madoff who, according to the SEC, allegedly pulled off a 15-year Ponzi based on suckering investors with $8 billion or more of so-called high-yield certificates of deposit. According to the SEC, he has yet to hire a lawyer of record, and he could not be found for comment...
...fact that the government ownership of IndyMac is coming to an end in just eight months is successful," says Kevin Stein, a former associate director of resolutions at the Federal Deposit Insurance Corporation (FDIC) and an investment banker at FBR Capital Markets. "Nationalization is a tool that has been used in the past and can be effective in the future in certain situations...
...Bovenzi and Dallas-based assistant director Rick Hoffman, to Pasadena, Calif., to run the bank. Bovenzi became IndyMac's CEO. Hoffman took on the role of president. For Bovenzi and Hoffman, cost-cutting was high on their agenda. They slashed the rate the bank was paying on certificates of deposit. Expensive perks were out as well - the government even sold off the company's Dodgers and Lakers season tickets. A company Porsche fetched $65,000 on Autotrader.com. Also gone are many of the artworks in the elevator lobby and the high-priced office furniture in now empty cubicles...
...higher rate of bank failures is increasing strain on the FDIC's resources. The agency's insurance-fund balance dropped by almost half in the fourth quarter, from $35 billion to $19 billion. To keep funds from dwindling, the FDIC is going to raise deposit-insurance assessment rates beginning in the second quarter of 2009, adding to the burden that already-troubled banks will have to bear...