Word: lende
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...Bretton Woods system created an international basis for exchanging one currency for another. It also led to the creation of the International Monetary Fund (IMF) and the International Bank for Reconstruction and Development, now known as the World Bank. The former was designed to monitor exchange rates and lend reserve currencies to nations with trade deficits, the latter to provide underdeveloped nations with needed capital - although each institution's role has changed over time. Each of the 44 nations who joined the discussions contributed a membership fee, of sorts, to fund these institutions; the amount of each contribution designated...
...problems are ricocheting back. The bad mortgages are contributing to forcing many European banks into bankruptcy. (We exported not only bad loans but also bad lending and regulatory practices; many of Europe's bad loans are to European borrowers.) And as market participants realized that the fire had spread from America to Europe, there was panic. Part of the concern is psychological. But part of it is because our financial and economic systems are closely intertwined. Banks all over the world lend and borrow from each other; they buy and sell complicated financial instruments - which is why bad regulatory practices...
Even with the new capital provided by the government, banks won't want to, or be able to, lend as much as they did in their reckless past. Homeowners won't want to borrow so much. Savings, which have been near zero, will go up - good for the economy in the long run but bad for an economy going into recession. While some large firms may be sitting on a bundle of cash, small firms depend on loans not just for investment but even for the working capital to keep going. That's going to be harder to come...
...paid strictly from cash, but other analysts say they're often funded by new rounds of refinancing. Steve Johnson, a former Macquarie staffer turned financial adviser, says the bank has managed to borrow ever-rising sums against its assets because "credit markets were more and more willing to lend. That game is over...
...know very little about Obama's appetite for it. When George H.W. Bush marshaled dozens of allies to push Saddam Hussein out of Kuwait, when Ronald Reagan stared down the Soviets with intermediate-range missiles, when F.D.R. went off on a Caribbean cruise and dreamed up the lend-lease program - and then managed to sell it to a highly skeptical public - all represent moments of leadership that required brinkmanship as well as salesmanship, a flair for grand strategy as well as a fine sense of tactics...