Word: nationalization
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Despite those numbers, the banking system is no longer at risk of collapse. Megabank JPMorgan Chase, for instance, announced on Oct. 14 it earned $3.6 billion in the third quarter. Most of the institutions in danger are small. But those failures are straining the FDIC, which underwrites the nation's saving and lending by insuring deposits. When a bank fails, the FDIC makes up the difference between what's left and what's owed depositors, up to $250,000 per person per bank. Two years ago, the FDIC had about $52 billion in its deposit-insurance fund. Today that fund...
...official lamented the "regrettable" release of floodwater that killed six South Koreans. Earlier, Kim Jong Il signaled willingness to resume stalled six-nation talks over his country's nuclear program...
...Give It Time," Peter Bergen downplays a main requirement for nation-building: significant support from the population [Oct. 12]. He also admits that the Afghan army is still weak. After eight years, when does he expect that it will have the strength and willingness to combat the insurgents--in 10 years, or 20 years? Those of us who served in Vietnam could readily see the same lack of willingness in the South Vietnamese as they mostly refused to put their lives on the line in their war against the North. If the government of a country of 28 million people...
Nine months ago, the nation was outraged over the awarding of bonuses to some of the executives whose firms’ irresponsible actions helped precipitate the financial crisis. Now, America’s focus on financial regulation seems to have shifted to the other issues...
...campus, Harvard University Operations Services also drew attention to environmental issues by participating in the Recycling Game Day Challenge. The competition, which is sponsored by the Environmental Protection Agency, encourages colleges and universities across the nation to promote recycling at their football games...