Word: deposition
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...surprisingly, current events are almost impossible to judge rationally from the headlines. Bill Isaac, former chairman of the Federal Deposit Insurance Corporation, recently described them as a “senseless destruction in the U.S. financial system” and a well-known executive exclaimed on the pages of The Financial Times that “Greenspan’s sins return to haunt us.” Finger-pointing, whining and semi-fake expressions of compassion with homeowners are all mixed in print and the airwaves with serious analysis. A surefire recipe for confusion has thus emerged. Although many...
...banks become more nervous about lending. In Hong Kong, the one-month interbank lending rate has doubled in the past month to 4%. Central banks are trying to pump liquidity into financial markets to avert a credit crunch. India on Monday cut the amount of cash that banks must deposit with the central bank in an attempt to loosen credit. "Credit markets are quite global," says Kirby Daley, senior strategist at financial services firm Newedge Group in Hong Kong. "It is inescapable, if the credit crisis continues to worsen, that Asia must be affected...
...OneSeason doesn't take long to learn how to play. A trader can deposit up to $2,500 into an account over a 12-month period, and then electronically buy and sell "synthetic ownership interests," a convoluted name for fake shares, of current baseball, basketball, football, and hockey players. Like any self-respecting stock site, the home page details the day's biggest winners and losers, as well as which traders are red-hot. You can easily access data on each athlete: performance charts, shares outstanding (which start anywhere from 50-250 depending on demand, and can change when...
...sweeten the pot for Republicans: extensions of popular tax benefits for business R&D and alternative energy, relief for the growing pool of people subject to the alternative minimum tax, disaster assistance for states affected by Midwestern floods and Hurricane Ike, and a provision raising the Federal Deposit Insurance Corporation's ceiling of guaranteed deposits to $250,000. And the initial no vote gave many members facing unhappy constituents so close to an election cover to vote for the second bill. "In this game, part of the way of winning is losing to get there," says Bruce Josten, a vice...
...which has a massive $560 billion balance sheet and is a big player in the domestic securities market. As the governments stepped in, the message they sent to the public was supposed to be reassuring: Don't panic - your money is safe. Most European nations have some sort of deposit insurance that would reimburse account holders, at least up to a point, in the event of a default - although by their rescue actions the authorities sought to make it clear that it wouldn't come to that...