Word: legacyism
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Dates: during 2000-2009
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The losses would deal a blow to financial firms already struggling from rising delinquencies, and could force some troubled firms such as Bank of America, Citigroup and Wells Fargo to go back to the government for another round of financing. That could create another problem: There's just $135 billion...
The problem is that $0.70 is still less than the $0.91 average banks are holding loans on their books. The Treasury Department has said that PPIP program could buy up to $1 trillion in "legacy" banks loans and other debt. That suggests banks could lose up to $210 billion on...
And why are costs spiraling out of control again? Yes, the global credit crunch has increased the cost of borrowing, and oil spikes have increased the costs of materials. But ironically-tragically, really-the main problem has been the 30-year hibernation of the nuclear construction industry, the legacy of...
But once we get to the actual buying of what Treasury is gingerly calling "legacy assets" (I'm hoping for a public-service ad campaign with the slogan "It's not toxic, it's a legacy"), things may shake out much differently from what Wall Street hopes and Krugman & Co...
While painting India's potential with broad rhetorical strokes, Nilekani achieves an impressive breadth nonetheless. He sketches an overwhelming list of sociocultural hurdles from the political legacy of Nehru-era socialism to education, the deeply entrenched caste system, and urbanization. But his reliance on platitudes and wide-eyed optimism is...