Word: dollarized
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Dates: during 2000-2009
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...puzzler for money chasers in Madoff's $65 billion Ponzi is why the multibillion-dollar bank account he kept at Chase never came under suspicion by internal bank compliance systems or managers in charge of Madoff's account. (Watch TIME's video about Madoff's trial...
...financing for this part of the plan is much less attractive. For every dollar of equity an investor puts up, the government will put up a dollar of its own, plus up to another two dollars in financing, for a total of 3-1 leverage...
...Less than two weeks ago, The Washington Post published an article announcing that AIG had paid millions of dollars in retention bonuses to executives of the company. Documents later turned over to the Connecticut Attorney General show that the actual figure was $218 million. To date, the government has loaned AIG $170 billion from various financial assistance efforts, including Troubled Asset Relief Program ("TARP"), in exchange for an 80 percent stake in the company. However, in apparent disregard of its unmatched failure, AIG chose to honor its employee's compensation agreements, and awarded multi-million dollar bonus to its executives...
...Most health-care providers rarely turn away patients in need of medical care. This is particularly true of hospitals, whose emergency rooms are mandated by federal law to provide treatment regardless of a person's ability to pay. That leads to millions of dollars in unpaid medical bills each year. Thus, when providers negotiate contracts with HMOs, for instance, they try to recoup some of those losses by raising prices for insured patients, which in turn leads to higher premiums. Because insurance markets are state-by-state entities with disparate regulations, residents of certain states - such as Montana, West Virginia...
...last September, things have grown progressively worse. Not only has Hungary needed the life support of a US $25.1 billion credit line from the International Monetary Fund, its currency has been in free fall. Since the beginning of this year, the Hungarian Forint has slid 19% against the U.S. dollar, and 13% against the Euro. The government now predicts the economy could shrink by 3% this year, a modest estimate compared to the 7.5% drop predicted by some analysts. (See pictures of the global financial crisis...