Word: sum
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Dates: during 2000-2009
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...Under the current plan being hawked by Paulson and the Bush administration, that astronomical sum would be used to buy up bad debt from ailing institutions in order to clean up their balance sheets. The criticisms of the plan are legion, but one irksome feature is that the banks that made the worst mistakes are in line to get the most help, providing little incentive for future managers to mend their ways. And all taxpayers would get for their rescue money is a mountain of toxic loans of highly dubious value...
...Corporation (RTC), an institution created during the Savings and Loans crisis to avoid dumping real estate assets after bank failures, and thus to avoid a further decline in real estate prices through the usage of federal funds. The current proposal is explicit about its monumental cost: $700 billion, a sum larger than the 2009 budget of Medicare and Medicaid, which also dwarfs the de facto nationalization of Fannie Mae and Freddie Mac just weeks...
...Citigroup stumped up some $400 million to tag its name to a new stadium that baseball team the New York Mets will play in from next year. And British lender Barclays - who backed out of talks over a possible takeover of troubled Lehman Brothers last weekend - lavished a similar sum for the naming rights to the New Jersey Nets' planned Brooklyn basketball arena. If that sounds risky, consider its exposure in its home market: the U.K. bank is the proud sponsor of the English Premier League...
...ever met a head of state, she raised her unshaken hand like a badge of honor: "We've got to remember what the desire is in this nation at this time," she said. "It is for no more politics as usual and somebody's big fat résumé maybe that shows decades and decades in that Washington establishment where, yeah, they've had opportunity to meet heads of state...
...charmed life (the gilded youth of this son of a wealthy stockbroker; the education at that most élite of British schools, Eton College, followed by Oxford University; the meteoric political advancement) has been very short of the character-forming struggles that garnish many a political résumé. While across the Atlantic the presidential contenders flaunt their personal stories, parade their families and brandish their scars, the Conservatives trust that buttoned-up Brits care less about such things. They are betting that class no longer determines electoral outcomes. They may well be right. But even some supporters fear...