Word: dollarization
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Dates: during 2000-2009
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...brink of collapse, many were surprised to learn that fully a fifth of China's currency reserves was composed of their bonds. Small wonder. Having spent much of the past decade intervening on currency markets to prevent the appreciation of its renminbi, China has accumulated a huge hoard of dollar-denominated bonds. No foreign nation stands to lose more from a U.S. financial collapse...
...according to FinAid.org publisher Mark Kantrowitz. Students at community, technical and for-profit schools have been the hardest hit. Federal Stafford loans were up in the second quarter compared with 2007, but loans made to parents through the PLUS program, which looks at credit history, plummeted--down 29% in dollar volume. Since May, the Education Department has spent some $5 billion buying loans in an effort to reignite private lending...
...cubic feet of natural gas that shares space beneath the ice with all those oil deposits. Gas is less profitable than oil and much harder to move to market. The majors could afford to wait until the economics of gas were more favorable before embarking on a multibillion-dollar pipeline project. But many Alaskans, accustomed to annual oil royalties, didn't want to wait on gas any longer. Nor did they want the Big Three to own the gas pipeline the way the majors owned the oil pipeline--or rig the tax bills they paid the state as the price...
...Billion Dollar Lessons: What You Can Learn from The Most Inexcusable Business Failures of the Last 25 Years By Paul B. Carroll and Chunka Mui Portfolio; 310 pages...
...parted ways at 2:30, having learned a lot about each other and how quickly entertainers can sweep up 5,000 dollar bills with a broom and put them into plastic bags, I was sad to give up my posse membership. Sure, there was a lot of waiting around and being very sensitive to Flo's moods, but it was fun being in a really tight group. Especially because I didn't pay for anything...