Word: banking
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...refreshing report. I am an anthropologist living in Ramallah, and I often travel to Gaza. It is truly refreshing to read an article that goes beyond the usual generalizations and simplifications about Gaza and Hamas. Well done, and I hope to read more! Anne de Jong, Ramallah, West Bank...
...power companies. Another Chinese firm is conducting a feasibility study for a Mekong power project in Cambodia, in an area where other foreign companies have been reluctant to invest because of the adverse ecological impact. Several other Mekong tributary dams in Southeast Asia will be financed by China Exim Bank, the nation's largest credit agency, which has invested in power projects with the enthusiasm of the Great Depression-era U.S. government...
...years of self-imposed isolation and ruinous quasi-socialist policies, the junta reversed course in the early 1990s, privatizing businesses, welcoming foreign trade and investment, and seeking international aid. But the West began to impose debilitating sanctions, and the threat of boycotts kept most international companies away. The World Bank and the International Monetary Fund were prevented from helping. Around the same time the Burmese discovered a treasure trove of natural gas, worth hundreds of billions of dollars, sitting offshore. The net result? A Burmese regime that can easily withstand Western sanctions, an economy still closely tied to official power...
...crack-up comes with a different story line. It was made not in Washington but in the strip-mall offices of mortgage brokers and on the trading floors of Wall Street. The general rule this time around has been that the farther away from the prying eyes of federal bank examiners a transaction occurs, the more likely it is to cause trouble...
Next are the mortgage lenders that belong to the same corporate family as a bank or a thrift. They're subject to oversight by either the Federal Reserve Board or the Office of Thrift Supervision but not to regular supervision. In this category are HSBC Finance and CitiFinancial, among others...