Word: mae
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Dates: during 2000-2009
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...with government-sponsored enterprises (like Fannie Mae and Freddie Mac, which are largely responsible for the financial crisis through their politically driven efforts to securitize mortgages that should not have been made in the first place), the emergence of government bailouts, and the overall shift to a more state-involved economy, we are beginning to see free-market assumptions wither away. Banks no longer must perform meticulous cost/benefit analyses for each and every loan or investment they make, and troubled financial firms can afford to take on even more risk knowing that the government and the American taxpayer will have...
...other factor was where Gramm's culpability came in: "the politicization of mortgage lending." Gramm trotted out the Republican bogeymen of the fall election campaign: Fannie Mae, Freddie Mac and the Community Reinvestment Act. But then he did something really interesting. He didn't give them all the blame...
...federal government does have to make another large series of investments in this industry, companies like Citi will end up like AIG (AIG), Fannie Mae (FNM), and Freddie Mac (FNM), vassals who toil in the fields guided by the whims of Congressional committees and the financial arms of the administration...
...coastal barangays, or villages, it's impossible to monitor the comings and goings of every vessel. The coast guard's staff of about 5,000 employees is insufficient to patrol the country's 35,000 km (21,747 miles) of coastline. In a Dec. 14 accident, when the MB Mae Jan, bound for the town of Aparri, capsized, killing 45, there was no coast-guard detachment present in the area, so there was no one to review the MOSD or prevent the overloaded vessel from sailing. "That's really the problem that we have," says Gimotea. "To regulate, I really...
...Still, the danger deters few travelers. On a balmy afternoon just before Christmas, Manila resident Maristella Cempron waited patiently for her SuperFerry at Manila's crowded South Harbor. It was just a week after the MB Mae Jan accident. The 27-year-old security guard admitted to "having some jitters." But she wanted to return to her family for the holidays. "I'll take the risk," Cempron says. Bautista, the transport undersecretary, sums up the problem: "The main issue here is the safety culture of the Philippines," she says. "We have very, very low regard for safety...