Word: redness
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Dates: during 2000-2009
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...expense the upfront payments this year, even though they will be handing over the cash in the next few months - in amounts that could run into the billions of dollars for some banks. The FDIC says the move will solve its liquidity problems - the FDIC officially slid into the red this week for the first time since 1991. But it's not certain whether the plan will boost confidence in the banking system, as the FDIC seems to hope. (See pictures of TIME's Wall Street covers...
...problem with the FDIC's solution is it does nothing to keep its fund officially out of the red. That's because the same accounting that allows banks to hide the costs will prevent the FDIC from marking up its own assets. Just as the banks get to add an asset to their balance sheet for the money they are prepaying, the FDIC has to book a liability for the money that it has received from the banks but is not actually entitled to yet. That liability will lower the balance of the FDIC's fund by the same amount...
...Energy Agency (IAEA) to reveal that it was building a uranium-enrichment facility in the mountains near Qom. (Obama announced the existence of the hitherto secret facility four days later, and U.S. officials claimed that Tehran had preempted him only because it was aware that it had been caught red-handed.) (See pictures of people around the world protesting Iran's election...
...scene of chaos on Sept. 28, when soldiers opened fire on crowds of unarmed civilians at a pro-democracy rally in a stadium, according to witnesses and news reports. Dozens of people were killed and hundreds were wounded, Isabelle Bourges, a spokeswoman for the International Committee of the Red Cross, tells TIME. According to New York-based Human Rights Watch, bodies were also found with knife and bayonet wounds and witnesses saw women being stripped naked in the streets and sexually assaulted by security forces. (See pictures of drug battles in Guinea-Bissau and Liberia...
...original version of this story has been amended. It now only attributes the death toll to the Red Cross spokeswoman...