Word: deposited
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...risks they were taking. Tiny C. Hoare & Co. - pretax profit for the year to last April was a modest $32 million, up 8% from the previous year - has prospered over the centuries by keeping it simple. Two-thirds of its income still derives from providing rock-solid banking services - deposit-taking or loans, say - to its wealthy customers through just a pair of London branches. (Investment or financial-planning advice and help with tax or trust issues bring home the rest.) And with the Hoare family's seven managing partners on the hook for all of the bank's liabilities...
...usually born of financial disaster. The Panic of 1907--during which several big New York City banks actually did fail--led to the creation of the Federal Reserve. The Great Depression, unleashed by a market crash and countless bank runs, gave us the Securities and Exchange Commission, the Federal Deposit Insurance Corporation, and the Glass-Steagall Act separating banks from Wall Street. Now we're up to our elbows in another mess, albeit one that has yet to acquire a name for the ages. (Credit crunch? Subprime meltdown? Give me a break!) And so, as foreclosure follows reset subprime loan...
...some yeggs tunneled into a Lloyd's Bank on the corner of Baker St and the the Marylebone Road in London, helped themselves to the contents of its safe deposit vault and skeddadled with cash and jewelry worth something like 3 million pounds. The robbery preoccupied the front pages of the English press for four days, then abruptly disappeared from the newspapers when the government clamped a "D Notice" on the story - implying that evidence of state secrets was also part of the swag...
...increase its share of the mortgage market very substantially, the new regulator proved to be asleep on the job, and the danger was completely overlooked until crisis overtook the bank last September. As a result, it had to be bailed out by the Bank of England, and an adequate deposit-protection arrangement had to be put in place to remove the threat to the rest of the U.K. banking system...
...libraries, more than 80 of them, throughout the University system. The Office for Scholarly Communication will also promote maximum cooperation by the faculty. Many repositories already exist in other universities, but they have failed to get a large proportion of faculty members to submit their articles. The deposit rate at the University of California is 14 percent, and it is much lower in most other places. By mandating copyright retention and by placing those rights in the hands of the institution running the repository, the motion will create the conditions for a high deposit rate. What further sets Harvard?...