Word: dollarization
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Dates: during 2000-2009
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Some industry experts believe that returns from these investments could rival the huge profits pocketed by investors during the Government Resolution Trust Corp. bailout of the savings-and-loan debacle of the late 1980s and early '90s. Back then, vulture investors picked up distressed assets at pennies on the dollar, and returns often exceeded...
...tricky. If real estate fundamentals continue to deteriorate over an extended period of time, more loans will go into default and the value of the mortgage securities will decline further. This could cause problems for entities that overpay. "If you buy a mortgage at 60 cents on the dollar, it's only a good deal if the underlying values come back," says Ressa...
There are those who caution against a jobs program. Heritage Foundation scholar Brian Riedl is skeptical about the benefit. "Every dollar that Congress injects into the economy must be first taxed or borrowed out of the economy," says Riedl. "The jobs we create in one county come at the cost of jobs in another county. It is a zero-sum game." Riedl believes there are times when government action is called for on humanitarian reasons. But in terms of economic growth, he says, "the only government spending that creates a net bonus for the economy is spending that results...
...while simultaneously providing coverage to nearly 50 million uninsured people. It is even more warranted when his congressional allies seek to raise taxes to pay for all the new spending that this cost-cutting entails. We aren't talking about short-term spending either; this isn't a trillion-dollar investment in a new system that will ultimately save money. The Congressional Budget Office says the leading health care reform proposals will increase health care spending and make the budget harder to balance in the long run. Yet saving money is the President's principal stated rationale for reform...
Mexico also struggles with corruption among prison officials, some of whom are susceptible to the influence of their prisoners - especially the traffickers from the multi-billion dollar narcotics industry. For example, the escape of the 53 prisoners at Zacatecas was clearly an inside job: a closed circuit video showed guards sitting and watching as the escapees marched out of the cells into the waiting convoy. The warden and several guards have since been arrested, though they have yet to be charged. Many of the escapees were members of the Zetas, a feared drug paramilitary based over the border from Texas...