Word: turn
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...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 default. That in turn is causing solvency problems for some financial institutions that rely on short-term borrowing to fund their operations...
...will soon come to Main Street - in Beijing and Brussels as much as in Boise. Economists are already outlining the downward spiral that they predict will follow. Banks will cut back on their lending to households and businesses. Mortgages and car loans will become harder to get. That in turn will stifle consumer spending and crimp investment in companies, leading to production cuts and job losses. Judging by previous crises, it can take about 18 months to two years for a financial squeeze to spread to the rest of the economy, which means that 2009 is shaping...
Consultants from the Cecil Group, an urban planning firm that is advising the Boston Redevelopment Authority, unveiled several versions of a plan to turn Barry’s Corner—a large intersection at North Harvard St. and Western Ave. that currently contains only a gas station—into a community hub that contains restaurants, cafes and a park. To illustrate their particular vision, the presenters made comparisons to other lively urban centers that are bordered by institutions, such as Harvard Square and University Park near...
...holiday that would fuse Election Day and Veterans Day in order to both promote voting and remind citizens that voting is a form of national service. Making Election Day a federal holiday—whether in addition to or in conjunction with Veterans Day—would instantaneously turn every workplace into a potential polling place and would result in a drastic increase in the number of possible poll workers, who currently run in short supply...
...dollar going forward," says Brad Setser, a former U.S. Treasury Department official now at the Council on Foreign Relations. That would mean further upward pressure on China's currency, the renminbi, at a time when the country's exporters are already hurting from slowing global growth. That in turn could slow growth even further domestically...