Word: dollarization
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Dates: during 2000-2009
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...that fell under its purview. An SEC rule change in 2004 - which didn't generate a lot of attention at the time and passed before Cox came along - let the five largest investment banks significantly raise the amount of money they could borrow. In retrospect, the new ratio - $40 dollars borrowed for each dollar of capital to back it up - was precariously high, considering smaller broker-dealers were capped at a ratio of $12 borrowed for each dollar of capital...
...Prior to passage of the health care law in 2006, the Health Alliance was reimbursed by the state for the full cost of providing uncompensated services. But the hospital system is now only receiving 60 to 70 cents for each dollar of medical service provided, according to chief financial officer Gordon H. Boudrow...
...Andrew Tobias, Democratic Party Treasurer, gave a passionate speech that could have been a highlight of the convention. But when he said: “In just the last eight years, the Republicans have cut the value of the U.S. dollar almost in half,” my neck got another workout...
...Political parties—I pray their members know—do not set the value of the dollar (which is a floating currency). Presidents only appoint a Chairman of the Federal Reserve who has (limited) control over the interest rates. Those rates influence the dollar’s value—as does demand from abroad. In the end, a prolonged and unsustainable trade deficit is more to blame for the weakening of American currency than any one president...
...city will have subsidy contracts expire by 2013, most within the Section 8 program. "This is a tidal wave of disaster headed our way, unless we take emergency action," says Gross. "Most of these buildings are in areas that have gentrified over the years. [The landlords] see the dollar signs and think they can get more money...