Word: rebuilders
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Dates: during 2000-2009
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...Leadership can foster a belief that we're all in it together. One of the most enduring images of the Asian meltdown was the sight of South Koreans lining up to donate gold wedding rings, jewelry and heirlooms to the country, helping rebuild foreign reserves. When Indonesia tried to emulate the gold-giving trick, Suharto's daughter was mocked as she went to donate her bit of gold. Rather than applauding her, Indonesians scoffed about how much her family had stolen from the country...
...financial markets. The steps are aimed at alleviating growing difficulties Korean banks have faced getting U.S. dollar financing from skittish international banks. Korea's move followed the lead of other Asian governments. Last week, Hong Kong, Singapore and Malaysia guaranteed all bank deposits, part of a larger effort to rebuild confidence in financial markets. A half dozen Asian central banks, including China's, have cut interest rates in recent weeks. Central banks have also taken action to boost liquidity...
...merger restructuring of Chrysler. GM is also publicly committed to delivering the new electric Volt automobile before end of 2010 and closing Chrysler plants and technical centers to save cash could violate the spirit of $25 bilion in loan guarantees approved by Congress last month to help American carmakers rebuild - and which emphasized job creation and preservation in the industry...
...Obama's plans, but they had the advantage of being easily understood in a world full of mysterious catastrophes. Obama proposed tax breaks for businesses that create new jobs, a freeze on foreclosures by banks that participate in the government's rescue program and a public-works fund to rebuild the nation's infrastructure while keeping people employed. He embraced McCain's proposal to suspend the rule that would require retirees to start liquidating their 401(k) holdings at the bottom of the stock-market crash. And he went a step further, proposing that Americans should be able to withdraw...
...Instead, the big concerted action of Oct. 8 passed with barely a shrug from Wall Street. Stock markets worldwide continued to roil, and banks everywhere remained in the firing line. "Confidence has completely crashed, and it will take a while to rebuild it," says Craig Wright, chief economist at the Royal Bank of Canada, who is nonetheless hopeful that these and other measures will eventually start to work. "But it's hard to hear positives in a thunderstorm of gloom...