Word: dollarization
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...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...
...talk about Reserve Primary Fund, which was the first of three funds at Reserve Management to break the buck. What Reserve announced was that because of investments in Lehman IOUs, it was worth 97 cents per share instead of a dollar. In other words, it was down by 3%. Not worthless. Down by 3%. Let's keep that in mind...
...market funds this way, but they do from time to time. In 1994, for example, amid the bankruptcy of Orange County, Calif., more than 20 money market funds were bailed out by their corporate parents. Only one fund was liquidated. And even then, investors received 96 cents on the dollar. The reason Moody's is considering downgrading 13 of Lehman's money markets isn't because of what they own, but because the ratings agency isn't sure the parent company, which is in bankruptcy, would be able to step in if needed...
...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...
...flaws. Perhaps we should have been reading “On the Road” along the way rather than David Sedaris. But certainly the free-lovers would still allow us to partake of their Kool-Aid, right?But instead of delicious red fruit-punch nectar, I found five-dollar-a-cup, more-ice-than-liquid lemonade sold from one of hundreds of stands waiting to take all your money as you stood dehydrated in the Southern sun. There were tents sponsored by television stations, software corporations, and Major League Baseball. I was a girl conflicted. At one show...