Word: loans
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Dates: during 2000-2009
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...also declared in 2005 that there must be a timeline for withdrawing all U.S. military bases in Central Asia, a clear sign of Beijing and Moscow's intent to limit U.S. influence. The organization convened most recently this week in Yekaterinburg, Russia, where China proffered a $10 billion soft loan to tithe over the region's ailing economies and all spoke of enhanced political and economic cooperation. "Russia and China are both interested in maintaining the status quo," says Sean Roberts, a Central Asia expert at George Washington University. See pictures of Chinese investment in Africa...
...Yardeni and others are worried that higher interest rates could push housing prices lower, and hurt banking profits. What's more, rising rates could indicate that inflation, which has largely disappeared in the recession, is coming back. To be sure, the increase in borrowing costs has already slowed home-loan-refinance activity, but it is unlikely to do much else to damage the economic recovery. (See pictures of the housing crisis...
...effects of recession the unemployment rate hit 9.4% in May - and choosing to tap credit lines less. Commerce Department figures from earlier this week show that people are now saving 5.7% of their disposable income, the highest rate in 14 years. In an April survey of senior bank-loan officers, the Fed found that demand for loans from households was down in almost every category. (Watch TIME's video of Peter Schiff trash-talking the markets...
...situation has become bad enough that the FDIC, which is responsible for the "legacy loan program" to remove toxic loans from banks' books, is considering alternative plans to the one rolled out at the end of March by Geithner. A senior Treasury official says the legacy securities program, which is intended to handle toxic securities, is "chugging along nicely" and that they are seeing "interest on both sides" of potential sales. The official says that while some banks may be reluctant to participate, Treasury is not worried...
...When the legacy loan and securities programs seemed unworkable in February, the market collapsed. But both Treasury officials and the market now believe that the banks aren't in as bad of shape as everyone thought back then. The fact that they can raise so much money from private sources means confidence is returning to the markets and credit is loosening up. "Success to us is that the system gets better, healthier," says the senior Treasury official. "Whether they sell into something we create or not doesn't matter...