Word: dollarize
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...Maybe that should be the model now. Within a nearly trillion-dollar stimulus bill there is probably enough that lawmakers agree on to get the kind of bipartisan vote Obama once aimed for: shoring up collapsing infrastructure, extending unemployment benefits, targeted tax cuts and relief - with strings attached - to state and local governments and embattled homeowners. Then take a deep breath, and let's have the debate he promised, the rigorous test of "Do we need this?" and "Can we afford it?", for all the other programs currently marinating in the bill, whether the honeybee subsidy or the Pell grants...
...Financial firms are built on capital. They take in a dollar, borrow against it and then lend out $3, $4 or $9. Or $30. In the past few years, executives have been using thinner and thinner capital - acquisitions and questionable off-balance-sheet arrangements - to build their money pails. In good times, the more of those cheap sources of capital you use, the more profitable your bank will...
...didn't. All it was going to take was a worse-than-average recession - and it looks as though we've got one - and many banks, including a number of the biggest ones, were bound to fail. The shockingly poor lending standards - housekeepers being approved for million-dollar mortgages - have only hastened their demise. "This crisis needs to be understood as something that has developed over the past decade," says Joseph Mason, a finance professor at Louisiana State University's E.J. Ourso College of Business. "This isn't just one black swan. It's a bunch of black swans that...
...requirement on loans that are not backed by deposits. But in 2004, the Securities and Exchange Commission (SEC) removed rules that capped leverage at 15 to 1 for investment-banking firms like Goldman Sachs. That allowed the firms to vastly expand their lending activities without raising a single new dollar of capital. One big backer of the rule change was reportedly former Treasury Secretary Henry Paulson, who was then Goldman's CEO. By that time, the regulatory separation between investment banks and traditional banks had long since been removed, so traditional banks such as Citigroup and Bank of America shifted...
...Still, the outlaw spirit lives on in the work of contemporary monkeywrenchers like Tim DeChristopher, a 27-year-old college student who singlehandedly disrupted a multi-million-dollar land auction that would have put hundreds of thousands of acres of public lands in southern Utah in the hands of oil and gas companies. But DeChristopher didn't use sabotage or homemade bombs-just chutzpah. (See the top 10 green ideas...