Word: dollarized
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Dates: during 2000-2000
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...assume you have two very decent, honest people and one of them has a million-dollar home and one of them has a million dollars in cash and they go into bankruptcy. The one with the million-dollar home keeps a million bucks and the one with the million dollars in cash gives all but a thousand dollars in cash to the trustee...
...Visa USA, the WEFA study put the overall cost to the economy at $44 billion in 1997. Said Mark Lauritano, a WEFA senior vice president: "Clearly, the American consumer is facing a significant burden as the result of bankruptcy, both through higher prices and increased interest rates." The dollar-cost claims--which were disingenuous at best--would become the most widely quoted statistics in the campaign that produced the legislation now before Congress...
...even sometimes hilarious, to have these lives of old stars (especially Taylor's) to carry with us into the new millennium. Gerald Clarke has done a fine, if sad, job on Judy Garland (Get Happy; Random House). Esther Williams has published an unexpectedly spirited memoir (The Million Dollar Mermaid; Simon & Schuster) in which she reveals, among other things, that she did not marry the ripple-jawed Jeff Chandler in the '50s because he liked to dress up in women's clothes ("You're too big to wear polka dots," she told...
...colonial-era building once used as a police storeroom and now renovated with state-of-the-art lighting and sleek marble and wood walls is also part of a challenge by the country's largest commercial city to Beijing for the title of China's cultural capital. The multimillion-dollar Shanghai Art Museum, which houses traditional and contemporary Chinese paintings, was only the latest major new public building in a spree that has transformed the coastal megalopolis. Just two years ago, the visiting Cleveland Orchestra had to play in a Shanghai gymnasium because there was no suitable auditorium. But today...
...best. Long-term, there's not a whole lot Duisenberg can do except wait for Greenspan's rate-hike medicine to take effect in the U.S., because it's the U.S.' supercharged economy - 4.5 percent annual growth to Europe's 3.4 percent - that's the most visible culprit, attracting dollar investment and leaving the euro stranded...