Word: banking
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Before coming to Harvard, Forst served as the global head of Goldman's investment management division, joining the bank's elite management company in 2004. He became a Goldman partner in 1998, Paulson's first year leading the firm...
...including the failure of Lehman Brothers, the government takeover of mortgage giants Fannie Mae and Freddie Mac, the largest government bailout to date, an $85-billion loan to the American Insurance Group, and most recently, the failure Washington Mutual and its subsequent takeover by federal officials in the largest bank failure in U.S. history...
...there is trouble in paradise. Industry stalwarts Bear Stearns and Lehman Brothers have vanished into the ether, while fellow bulge-bracket Merrill Lynch was engulfed by Bank of America. Even the top firms Goldman Sachs and Morgan Stanley have agreed to become bank holding companies, subjecting themselves to restrictive regulations in return for greater access to liquidity from...
...pariah-state image - a tangible symbol of being welcomed back into the global community. Second, removal held out at least the prospect, down the road, of some economic benefits. A spot on Washington's terror list scares off the world's multilateral lending institutions - including the IMF, World Bank and Asia Development Bank - from even considering aid programs given that the U.S. is their largest contributor...
...With WFP as a guaranteed client, many poor farmers will be eligible for credit with which to buy seeds and fertilizer, and perhaps employ people to help harvest the crops. "Once a farmer's group wins a contract they can take it to a local bank," says Rajiv Shah, director of agricultural programs for the Bill and Melinda Gates Foundation. "They can show that not only do they have the means to produce but a market to sell it." Gates told reporters on Wednesday that he aimed to "transform the way small holders are able to get to market...