Word: nation
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Dates: during 2000-2009
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...last fall as part of legislation that gave the Treasury Department permission to spend $700 billion to rescue the nation's ailing financial system. The panel, which is headed by Harvard Law professor Elizabeth Warren, has no legislative or official regulatory powers. It is supposed to monitor the Treasury's spending and report back to Congress as to whether it is being effective in boosting lending and shoring up the financial sector...
...Deutsche Bank, said he thought two-thirds of all commercial real estate loans due in the next few years - hundreds of billions of dollars' worth - could go bust. Jeffrey DeBoer, president of trade group the Real Estate Roundtable, fretted that problems in the lending business could cost the nation thousands more construction and real estate jobs. Next up, Congressman Jerrold Nadler of New York expressed worry that the country was headed for a lost decade of economic stagnation...
...government's recent bank stress test, examiners predicted that commercial real estate loan losses for the 19 largest banks in the nation would be far less than the value of home loans that go unpaid in the next two years - $53 billion vs. $185 billion. But Warren said she thought the two-year horizon of the government stress test may have understated the size of the banks' commercial real estate problem. The government assumed different default rates for each of the 19 banks for commercial real estate and other types of loans. Warren said the government had not given much...
...Christchurch's smartest places to stay, the spectacular Otahuna Lodge, www.otahuna.co.nz, is almost a reason to visit in itself. The nation's largest private historic residence was reborn as a small luxury hotel after a multimillion dollar renovation in May 2007, and today houses a superb art collection courtesy of its new American owners, Hall Cannon and Miles Refo. After a five-course degustation menu by chef Jimmy McIntyre in the clubby Victorian-era dining room, you can warm yourself by the fire (the lodge contains 14 working fireplaces) before retiring to one of seven expansive suites fashioned by Auckland...
...fiercely secular nation, France has always had an awkward relationship with religious groups. Officials often find themselves struggling to strike the delicate balance between maintaining church-state separation and honoring the right of citizens to express their faith. But in the current case against the U.S.-based Church of Scientology, authorities have abandoned their usual attempts at fine-tuning religion's standing in French society - instead, they want to ban Scientology from France altogether...