Word: toxicants
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Dates: during 2000-2009
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...turnaround? It comes down to this: Banks need money. The U.S. government has it. Or can print it. So in addition to the end-around plans to buy mortgage securities and other toxic assets that Paulson and Fed Reserve Chairman Ben Bernanke have been devising, why not go with a more direct approach...
...bailout bill that Congress signed last week, in which Paulson and Co. were given wide berth to do what they needed to ease the financial panic that all but froze credit markets. Much of the discussion, and the planning, has revolved around how the government would buy up the toxic securities such as CDOs (collateralized debt obligations) that are now poisoning bank balance sheets. The thinking has been that once financial institutions can unload this trash on the government, the gears of commerce will move again. But that takes time to pull off. "It's an inefficient way to inject...
...root of the troubles are the "toxic assets" - the highly leveraged securities mainly linked to U.S. mortgages - that banks around the world still have on their books. In its latest estimate this month, the International Monetary Fund (IMF) calculated that losses on these now virtually worthless securities could amount to $1.4 trillion. So far, banks have written off less than half that. Concern about who is still holding dud paper has gummed up credit markets, with banks refusing to lend to one another for fear that the borrowers may default or may have themselves lent to other banks that could...
...Chinese stock market has also been hit hard - it's down about 60% this year - but the nation's banking system has for the moment largely been sheltered from the international storm because it's only partly open to the global capital flows that have circulated so many toxic assets. China's economic growth has been a critical factor for the U.S. because working in tandem, the nations have served as the twin motors of world economic growth: American consumers have snapped up everything that the Chinese have manufactured, from toys to apparel, and in return the Chinese have helped...
...being one of the biggest funders of the coal industry,” said Alysha Suley, a representative from Rising Tide Boston. “In the Appalachian mountains, these coal companies are contaminating the water supplies in mountain communities, filling them with all kinds of carcinogens and toxic waste.” While protesters decried Bank of America for funding the coal industry, the bank has publicly made environmental strides. Since 2006, Bank of America has provided funding for Harvard’s Center for the Environment, which is currently hosting the “Future of Energy?...