Word: dollarization
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...abundantly clear to one and all that Harvard has the money to satisfy our demands,” said Harvard Union of Clerical and Technical Workers member Thompson Potter, referencing the University’s $26 billion dollar endowment...
...biggest corporate fraud in history is turning into one of Broadway's most expensive plays. A team of theater producers is spending nearly $4 million to bring Enron to New York City from London. That's a fraction of what Hollywood routinely doles out, but on Broadway the multimillion-dollar budget of the play, which is set to open for previews on April 8, is drawing attention...
...Himat, 43, a trader from an island on Aceh's west coast, there with 10 members of her family. "We really wanted to see how Banda Aceh had been rebuilt," she says. "It's really beautiful now." Their next stop was the ship-shaped Aceh Tsunami Museum. This multimillion dollar boondoggle opened 14 months ago. You can sit in its shade and contemplate the scenic Dutch colonial cemetery next door...
...effect of this spat has been to push the euro to a four-week low against the dollar as investors fret over the uncertain prospect of support for Greece. The euro closed on Tuesday at $1.35, down from a high of $1.51 in November. "The leaders are hardening positions but not for a clearly thought-out purpose," says Fredrik Erixon, director of the Brussels-based European Centre for International Political Economy. "It looks more like a chicken farm than anything else...
...calls - most prominently made by U.S. President Barack Obama - for the renminbi to better reflect market fundamentals. In the past, U.S. Treasury Secretary Timothy Geithner has outright accused China of manipulating the renminbi and most (though not all) economists believe that China's currency needs to rise versus the dollar. But at a moment when U.S. unemployment is close to 10%, Beijing feels that it is being made a scapegoat for economic problems that are, let's face it, very much made in the U.S.A. It has fired back fiercely. Premier Wen has called any talk about currency revaluation...