Word: lastingly
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...Having sanctioned some $1.3 trillion in state- and central-bank aid to protect its country's troubled lenders, Britain's government has been mulling a bank tax for months. Prime Minister Gordon Brown's proposal last fall for an international "Tobin tax" - a levy on financial-market transactions ranging from foreign-currency trades to derivatives - received a chilly reception abroad. U.S. Treasury Secretary Timothy Geithner pooh-poohed it as "not something we're prepared to support." But Darling's call for a global bank tax could yield something closer to the U.S. vision. Such a levy might involve taxing banks...
...hand earlier this month, favoring instead a wider implementation of some of the tough rules that left his country's banks relatively unscathed by the crisis. But the publication next month of the International Monetary Fund's recommendations on bank taxes - a report commissioned by the G-20 countries last year - might help coax reluctant nations into considering the measure. "Some countries feel they did their homework," says Arturo De Frias, an analyst at Evolution Securities in London. Should there be an agreement on the issue, he says, "I would be very, very surprised...
...other expiring program - the federal home-buyer tax-credit program, which offered an $8,000 credit to first-time home buyers - was so successful at luring home shoppers into the decimated market last year that the government extended it into 2010 and expanded it to include a $6,500 credit for non-first-time buyers. About 2 million families used the credit in 2009, and an additional 2.2 million to 2.4 million will take advantage of it this year, according to Lawrence Yun, chief economist with the National Association of Realtors. Approximately 800,000 of the transactions have involved home...
...greater concern to many analysts is the pending expiration of the Federal Reserve program, which involved purchasing up to $1.25 trillion in mortgage securities backed by Fannie Mae and Freddie Mac. It could open the door to higher interest rates, although the Fed last week hinted that it would keep its benchmark rate near zero for the foreseeable future - a comment likely aimed at preventing panic. (See how Americans are spending...
...Emmanuel de Merode, director of Virunga National Park. "We're dealing with an unusual situation, where we have very low numbers in a single location. It's like having all your eggs in one basket, and that makes them very vulnerable beyond the success we've been having these last few years." (Read a TIME cover story on the gorilla...