Word: morganize
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Dates: during 2000-2009
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...once burned, twice shy" isn't an old Chinese proverb, it probably should be. As Gao Xiqing, the chief investment officer of China's $200 billion sovereign wealth fund, meets in New York City this week with Morgan Stanley CEO John Mack to discuss increasing the Chinese government's stake in the venerable - and flailing - investment bank, he bears an obvious burden. Last December, the CIC (the China Investment Corp.) invested $5 billion for a 9.9% stake in Morgan Stanley (for which the bank must pay CIC a 9% annual dividend until 2010). On paper, that investment is now down...
...Just yesterday came news that one other venerable investment bank, Morgan Stanley, was considering a merger with the commercial bank Wachovia...
...prominent investment banks became the latest casualties in the financial sector, following in the footsteps of Bear Stearns, which was sold to J.P. Morgan in March in a deal orchestrated—and partially insured—by the Federal Reserve...
Weeks after the violence surrounding the presidential election in Zimbabwe has subsided, Morgan Tsvangirai and Robert Mugabe have finally reached a power-sharing agreement. In this arrangement, Tsvangirai becomes prime minister and chairman of the council of ministers, while Mugabe remains president, chairman of the cabinet, and leader of the armed forces. Despite this political solution, economic troubles remain. In order to solve them, the United States, though perhaps wary of the uncertainty of this political union, must act decisively by supporting foreign aid negotiations...
...shotgun marriage between Zimbabwe's government and opposition was never going to be easy, but it could falter at the first hurdle. Despite signing a power-sharing agreement on Monday, President Robert Mugabe and his arch-rival and new Prime Minister Morgan Tsvangirai have failed to agree on who will control which portfolios in a new cabinet. A meeting between the two men on Thursday aimed at resolving the issue broke up without agreement, as reports began to trickle in of violence breaking out in different parts of the country between supporters of Mugabe's Zanu-PF and the opposition...