Word: dollarization
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Dates: during 2000-2009
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...first major acquisition, FleetBoston Financial Corp., which gave North Carolina-based Bank of America a foothold in the northeast market. A series of other purchases - Chicago's LaSalle Bank, Charles Schwab's private banking program - earned him a reputation as a man with a penchant for savvy multi-billion dollar deals. This January, he bought Countrywide Financial Corp. for $4 billion in stock, adding "largest mortgage provider" to Bank of America's list of bragging rights and saving Countrywide from possible bankruptcy. With that purchase, Lewis became a kind of quasi-savior on Wall Street - the man who helped...
...invited passers-by to adorn the portrait with personal messages. Lehman employees were offered green markers; non-affiliated onlookers got black ones. Some scrawled angry missives: "The banks are next"; "A symbol of greed and arrogance." Others were weirdly aphoristic: "Greed and ego it was"; "Learn to respect the dollar." Even amid the turmoil, some even mustered a bit of a gallows humor: "Hakuna Matata (It Means No Worries)." Raymond - who began work on the painting about 10 days ago - said he expected to collect some 300 signatures, and hoped to auction the final work on his website for more...
...poets or politicians (just look at how many Americans are getting a buzz off Sarah Palin and Barack Obama), we're hungry for information about them. We want to know what they're saying, what they're wearing, where they're going and whom they're with. Indeed, billion-dollar industries revolve around our indefatigable obsession with celebrities. And now new scientific research has found that celebri-crushes are not only common but maybe even healthy: a study published Sept. 10 suggests that the act of celebrity worship may be a boon to some people's self-esteem...
...During his 22-month tenure, El-Erian was tasked with bringing stability to an organization that had been rocked by the 2005 departure of its long-time CEO Jack R. Meyer, who left with a quarter of the management company’s staff amid heated criticism over multimillion dollar compensation packages for him and his top managers. Meyer and several of his former lieutenants now run the Boston-based hedge fund Convexity Capital Management. Robert S. Kaplan, a former vice chairman at Goldman Sachs and a professor at Harvard Business School, served as interim CEO after El-Erian stepped...
...might also have veto power over whether a foreign painter gets to set up his outdoor studio on its turf. They're unlikely to have known that Liu was a millon-dollar painter - his support team telling anyone who asked that the Naples work was a "university project." (Liu does teach at Universtiy of Beijing.) Still, one person had told the local driver of the artist and crew, "We know where they're staying." In the end, the project appeared to have garnered a tacit approval, because by the final day, it had become clear that...