Word: loans
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Dates: during 2000-2009
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...year stretch without serious accidents in the U.S., no-nukes sentiment has faded; a Gallup poll this month found that 59% of Americans now support atomic power. The industry has an even broader base of bipartisan support in Congress, which continues to funnel it billions of dollars worth of loan guarantees, tax breaks, insurance benefits and direct subsidies; the latest goodie is "risk insurance," which will reimburse the industry for regulatory delays. States are devising even more creative incentives for new plants; Florida has promised to pay utilities for nuclear investments even if they never complete any reactors...
Other criticisms of the current climate have focused on debt, bemoaning that gargantuan loans for law school aren't exactly easy to defray. According to the American Bar Association, the average law-school student who graduates this year will do so with a little more than $73,000 in debt. Larry Kramer, dean of Stanford Law School in Palo Alto, Calif., acknowledges there's a problem. "Something about the way the system works has to give," he says. "If you're going to defer someone for a year, there really needs to be a certain degree of loan forgiveness...
...toxic-asset purchases by private investors - is a great deal for the investors and a big risk for the taxpayers. The math calls for the government to take on most of the downside risk while evenly sharing the rewards with hedge funds, money managers and other buyers. In the loan-buying program, private investors would put up 7% of the capital for a shot at close to 50% of the gains. The ratio in the securities-buying program isn't entirely set yet and will probably vary, but it should offer a similarly favorable risk-reward profile. (See 25 people...
...many philosphical objections as one would expect. On the same day that Geithner rolled out his proposals, House Republicans expressed support for a step the Obama Administration has so far resisted: turning to the FDIC, or an entity like the Resolution Trust Corporation used during the savings-and-loan crisis, to temporarily take over today's failing big financial companies loaded down with toxic assets...
...also trying to get as much as he can from both sides. "Lukashenka is feeling pressure from Russia both economically and politically," says Marples, "He is very much sucked into the Russian orbit and seeks some release." Belarus has in the last six months received a $2 billion loan from Russia, and is under pressure to recognize the Russian-backed breakaway republics of South Ossetia and Abkhazia in Georgia. E.U. politicians have warned against such a move...