Word: toxically
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Dates: during 2000-2009
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...first initials of the company's original moniker Union Bank of Switzerland. But over the past few months the Swiss have begun to joke that the acronym should stand for United Bandits of Switzerland. Fury over a tax scandal and massive losses thanks to UBS's exposure to the toxic subprime market in the U.S. is growing fast. "Those arrogant and greedy bankers are tarnishing our image," says Marie-Claire Favre between sips of her cappuccino in a Lausanne cafe. Standing in front of UBS's Lausanne office, Bernard Thevenoz can't hide his outrage. "Those thugs, they are dragging...
...have invested the windfall smartly. Exports have been diversified so as to reduce reliance on commodities, and before the downturn the nation socked away a record $208 billion in foreign reserves. The banking system has remained well regulated, and so far seems to have been less exposed to the toxic assets that have wrecked many U.S. and European banks. All this has "buffered Brazil quite a bit against the global downturn," says Paulo Leme, emerging-markets director at Goldman Sachs...
...global competitor. American demand for Chinese goods has fueled growth in Chinese manufacturing, and Chinese savings, in turn, have enabled America to live beyond her means. Yet this symbiotic economic relationship has, until recently, only made the headlines when it’s a matter of defective toys and toxic foodstuffs. Although at earlier points in our history we woefully mistreated African Americans and Native Americans, we lecture China about its treatment of Tibet and sell arms to what the Chinese regard as a “break-away” province, Taiwan. We compete with China for natural resources...
...quickly, and he swallows the ends of his sentences, and he gives the impression of a grad student taking an oral exam, not someone leading the country out of perdition. But he'll be the hero of the Western world if his plan to subsidize the sale of toxic assets leads banks back from the brink...
...nearly 6 over the past two decades, from $4.5 billion in 1986 to $25.7 billion in 2006, and governments around the world are demanding that Beijing boost the safety of what it produces. In 2006, after more than 100 people died in Panama upon consuming cough medicine that contained toxic diethylene glycol from China, the mainland's food- and product-safety problems became an international concern. Adulterated wheat gluten from China was blamed for the death of thousands of pets in North America in 2007. That year, the U.S. Food and Drug Administration banned several types of Chinese seafood that...