Word: signed
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...front end of the process, the U.K. has essentially begun that nationalization of some banks. It will end up with a 70% share in RBS. The stunning part of the program is, according to Bloomberg, that the government will require aid recipients to sign "specific and quantified" agreements to lend, reflecting Brown's frustration at the failure of an October rescue to unlock credit markets. (See pictures of London's gathering storm...
...government for taking out a policy. Lenders will also shoulder a "first loss" amount - similar to the excess on an auto insurance policy - as well as roughly 10% of the remaining losses. In return for picking up the rest, the government will require banks to sign agreements binding them to increased rates of lending. Just how much risk that exposes the U.K. government to is unclear; the level of banks' exposure to the kind of toxic assets the insurance protects against is still blurry. And any pickup in the economy could reduce a lender's need to cash...
...popular victory" over Israel. Up until the last minute before Israel declared its cease-fire, Hamas was firing rockets. Five hit the ports of Ashkelon and Ashdod as well as the inland towns of Beersheba and Sderot. And unless Hamas is obliged by Egypt and other Arab states to sign a truce with Israel, rather than following Israel's example of declaring its own, it may be only days or weeks before the Islamists or any of the myriad militant groups in Gaza decide to take revenge for the Israeli assault and again start firing rockets into southern Israel...
...rooms, personally welcoming the President in case he returns. A wall hanging displays campaign stickers from recent years, with slapstick slogans like "Let's Kerry Bush out of the White House." Random hooks provide space for coats, hats and bags and a very attention-grabbing "No Smoking" sign is taped up above a fat, old cigarette-vending machine...
...than four decades ago as an administrative assistant for the head of the House Transportation and Infrastructure Committee, Oberstar witnessed firsthand the pitfalls that President Kennedy encountered in trying to reverse the slumping economy in 1963. At the time, Kennedy "said to the Congress, You pass it, I'll sign it," Oberstar recalled on a recent morning in his Capitol Hill office. The only problem was, the infrastructure system wasn't set up for quick infusions of cash. The City of Grand Rapids, Minn., for example, asked for a modern water-treatment facility. "We said, 'Fine, we'll give...