Word: lended
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...estimate this month, the International Monetary Fund (IMF) calculated that losses on these now virtually worthless securities could amount to $1.4 trillion. So far, banks have written off less than half that. Concern about who is still holding dud paper has gummed up credit markets, with banks refusing to lend to one another for fear that the borrowers may default or may have themselves lent to other banks that could default. That in turn is causing solvency problems for some financial institutions that rely on short-term borrowing to fund their operations...
...Treasury Secretary Hank Paulson likes to talk about how soured mortgage-related securities are "clogging up" our financial system. It's not always easy to see what he means. Banks' refusing to lend to one another and companies' not being able to fund themselves through issues of commercial paper are incredibly serious and escalating problems - but almost entirely intangible...
...sure, all lending hasn't been wiped off the face of the planet. Community banks, credit unions and firms that lend money against receivables are in many cases booming. Sterling National Bank, a regional player in the Northeast, has taken out newspaper advertisements asking "What Credit Crunch?" and highlighting loans it has recently made - a $5 million revolving line of credit to fund sales growth, $4 million worth of credit and lease-financing to buy IT systems and software...
...complete reframing that Ian McEwan managed in “Atonement,” lack that subtlety of craft, and instead of leaving the characters in uncertainty, it simply leaves them.Whatever the resonance of the ending, the main action is of little value. Roth’s dry style lends itself well to the book’s first few pages, running breezily through Marcus’s perfect life as the perfect son. But as Marcus’s father moves into the background and his anxiety comes to the foreground, each new face is rendered with less...
...lived it up. There are no pockets in a shroud, as the saying goes. We once saved about 15% of our income. By the roaring '80s the rate was 4%; now we're in negative numbers. Bob Hope liked to joke that "a bank is a place that will lend you money if you can prove that you don't need it." But that too changed as easy credit bloomed and usury became another of those vices that had somehow lost its juice. The average American has nine credit cards with a total $17,000 balance. We borrow against...