Word: key
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Dates: during 2000-2009
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...intentions were good. Ratings were a tool for assessing the safety of financial institutions. But the result has been to create a system in which getting a rating of a particular level is equivalent to "a regulatory license - a key that unlocks the markets," says Frank Partnoy, a law professor at the University of San Diego. In 1975, the SEC, in an effort to better define who was a legitimate rater of bonds, designated certain firms "nationally recognized statistical rating organizations" (NRSROs). Today, if you are a bank or a pension fund or an insurance company you have a firm...
...main reason: Norway's budget and current-account surpluses are the biggest among nations with the 10 most traded currencies. Factor in the country's $350 billion sovereign wealth fund pumped full of the country's oil revenues, and the cost of insuring against government default in Norway - a key measure of a currency's safety - is the lowest of those countries. With Norway's output expected to shrink by a modest 1.2% this year, far less than in most of the world's leading economies, the krone, HSBC said, represents "the ultimate safe haven." (See pictures...
Constructing a strong framework around the shakier parts of the program was the key. To that end, Geithner spent the first part of the press conference talking about all the other programs he and the rest of the federal government have so far unveiled: help with housing, consumer loans and stabilizing banks balance sheets with direct infusions of cash. When he finally rolled out the toxic asset plan itself - in three separate parts - he carefully packaged the shakiest component with ones the market was more likely to have confidence...
...With the start of the Ivy League matches less than two weeks away, such a development could prove the key to retaining the championship...
...guys have a lot of potential as we’re starting to see,” Harvard coach John Tillman said of the two freshmen. “We need it right now. We’re hoping that some of these young guys can help us win key games, and those two guys stepped...