Word: bailout
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Dates: during 2000-2000
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...lung cancer. They further alleged that the Lloyd's hierarchy was party to the fraud because it knew of the looming problems but allowed its syndicates to under-reserve for the resulting losses--thus helping conceal the true state of affairs from the recruits needed to fund a bailout...
...Indeed, Wolfensohn had become an outspoken critic of IMF policy after he judged that the international lender had actually exacerbated the economic crisis in countries such as Indonesia two years ago by insisting on harsh austerity measures as a condition for a financial bailout - which made the poorest and most vulnerable members of society pay the price for the errors of that nation's notoriously corrupt elite. Wolfensohn on Tuesday even saluted the demonstrators. "I believe deeply that many of them are asking legitimate questions, and I embrace the commitment of a new generation to fight poverty," said Wolfensohn...
...market goes into a downturn, or even a period of stagnation, "some" could become many. There are economists who argue that for younger workers, buying into the market now could be a classic case of bad timing, and then the government would only be looking at a politically inevitable bailout of the fund a generation or two from now, costing even more money. The second is the huge administrative costs inherent in making the transition from one huge fund to millions of little ones. Bush won't price it, saying it's a negotiable subject for congressional bean counters...
...Free market conservatives on Capitol Hill, for example, believe the IMF has come to function as a safety net for bad investment decisions, and that investors and governments will continue acting recklessly as long as they can depend on a bailout...
...latter point is amplified by Third World advocates (and even the World Bank after the Asian bailouts), who point out that the harsh austerity package that typically accompanies an IMF loan or bailout cuts government social spending and therefore transfers the burden of inept decision-making by governments and investors onto the backs of society's poorest and most vulnerable members...