Word: deposited
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Dates: during 2000-2009
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...going on here? Economists say that even in this downturn, financial services has proven to be more recession-proof than other lines of work. Consumers can put off buying a new car or going on vacation. But most people will still continue to pay their mortgage, write checks and deposit money at the bank. "The fact that the financial-services industry is declining this much is startling," says Joel Prakken of research firm Macroeconomic Advisers, which puts together ADP's employment report...
...borrowing for some banks. That's because banks have to regularly issue bonds in order to have money to make loans and underwrite securities. This became much harder to do during the credit crunch, so the government began allowing banks to offer bonds that are insured by the Federal Deposit Insurance Corp. (FDIC). With the government's backing, banks were able to raise money. (See 25 people to blame for the financial crisis...
...deal brokered by the Federal Deposit Insurance Corp., which closes banks that are insolvent or nearly so, BankUnited is being taking over by a group of private-equity investors, including famed vulture investor Wilbur Ross. The group isn't paying much for the bank - because BankUnited isn't worth much. The FDIC figures cleaning up the mess at BankUnited will cost its insurance fund nearly $5 billion, which makes this the most expensive bank failure this year...
...dark cloud over regional banks is bad news for the FDIC, which provides deposit insurance, now to the level of $250,000 per account, at banks across the nation. At the end of last year, the FDIC had only $19 billion left to cover future failures. That's the lowest the FDIC's insurance fund has been in more than 15 years. As a result, on Friday the FDIC decided to raise the fee it charges large banks for deposit insurance. Also, President Obama recently agreed to allow the FDIC to borrow as much as $100 billion, up from...
...taken it upon themselves to liberate certain documents. After Brooklyn artist Charles Merrill Mount attempted to sell a collection of rare Civil War manuscripts including three Lincoln letters to a Boston bookstore in 1987, suspicious staffers alerted the Feds. Mount was arrested, and a search of his Washington safe-deposit box revealed some 200 Civil War-era papers, mostly pilfered from the National Archives. Before releasing him on bail, a U.S. magistrate barred Mount from the Archives, the Library of Congress and the National Gallery. "I have nothing else to do," Mount said. "Try the zoo," said the judge. Convicted...