Word: dollarization
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Harvard’s multi-billion-dollar house renovations progressed one step further on Thursday, when the preliminary findings of the Committee on House Life report were presented. The report’s conclusions will be familiar to anyone frustrated by missing the 7:15 dinner deadline or losing a fight over a common room, as it outlines significant changes that should be made in the new houses. Though we await the specific details of the final report, these initial findings address important student concerns and offer encouraging signs of progress...
...move came after Obama officials spent part of the weekend playing defense on AIG, as more details of the bailout became public. But the harsh criticism of the company is unlikely to stem rising public outrage with the multibillion-dollar cleanup operation. That anger came after federal officials named dozens of U.S. and European financial institutions that, together with municipalities in Virginia, California and elsewhere, have shared in more than $170 billion in AIG bailout money. (See 25 people to blame for the financial collapse...
...white guayabera shirts. He also assuaged voter fears by convincing his own party to drop its insistence on lifting El Salvador's amnesty for civil-war crimes, on revising the Central American Free Trade Agreement (CAFTA) and on reversing El Salvador's 2001 adoption of the U.S. dollar as its currency...
...Internal Revenue Service is bracing for a deluge of amended tax returns from tens of thousands of victims caught up in the recent wave of multibillion-dollar Ponzi schemes and other frauds, most notably the sensational swindle perpetrated by Bernie Madoff and R. Allen Stanford's $8 billion certificates-of-deposit scam...
...Same goes for those who work in the business. Many have lost their job and life savings, and most have seen their salary cut. Yes, there have been egregious bonuses and golden parachutes - and we ought to claw them back - but that won't pay for a trillion-dollar (or more) bailout. Which leaves ... the folks who loaned the banks money. The banks' creditors have been the clearest beneficiaries of the bailouts - leaving them with the most wherewithal to contribute. (See 25 people to blame for the financial crisis...