Word: deposits
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Dates: during 2000-2009
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...series of interest-rate cuts by the Bank of England since December has so far failed to tame mortgage interest rates; the average rate on a two-year fixed deal with a modest deposit rose to 6.94% in April from 6.6% the previous month. Annual inflation in the U.K. hit 3% in April, well beyond the government's 2% target, making further cuts soon highly unlikely. The central bank offered in late April to swap around $100 billion of lenders' old mortgage debt for safer government bonds, but the effect on the housing market has been muted. "It certainly...
...most part, operating under the national radar - until news of the company's plans to import 20,000 tons of LLRW from Italy hit the local Utah media late last year and the national media shortly afterward. EnergySolutions had hoped to process the waste at a Tennessee facility and deposit 1,600 tons of it into the company's radioactive waste landfill in Clive, Utah. But now a torrent of opposition has come up against that plan...
...colleges require students to decide where they want to go by May 1, after which they will re-evaluate the kids they've kept on hold. Given the odds, those who choose to remain on a waitlist should still accept an offer from--and, yes, probably pay a nonrefundable deposit to--another school, lest they have nowhere to attend in the fall. Some waitlisted students use the time to take action. Sam Davison, a senior at Highland Park High School in Texas, was waitlisted at his first choice, Vanderbilt University. To boost his chances, Davison had a family friend...
...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...