Word: pay
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Dates: during 2000-2009
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...terms of sheer financial disaster, however, it would be hard to match Montreal's 1976 Games. It has taken the city more than 30 years to pay off its extravaganza, the cost of which is still not entirely known, according to Humphreys. The Olympic stadium was a particular disaster; originally budgeted for C$156 million, it ended up costing the city C$2 billion, including numerous fixes to the roof and years of interest payments. The Quebec government had to introduce a special tobacco tax to help pay down its Olympic investment...
...costly upgrades to the Sea to Sky highway, which winds north along Pacific fjords. Should these projects be part of the Olympic budget or (because they will presumably serve the city for years afterward) part of the general municipal budget? Either way, the projects will take decades to pay down...
Here's how it will work in the FDIC's case: Later this year, along with their scheduled 2009 fee, banks will pay the FDIC all of the fees that they believe they will owe the agency through the end of 2012. But even though the banks will make those payments this year, they won't show up on 2009 income statements. Instead, each bank will add an asset, a big one, to its balance sheet, right below where the cash they just handed over to the FDIC used to be. It will be called something like prepaid FDIC premiums...
...practice has had some successes: President Dwight D. Eisenhower defused a row over the Suez Canal with economic sanctions against Britain; Swiss banks were forced to pay reparations to Holocaust survivors when faced with a boycott, led by some U.S. states, for harboring pilfered assets; and stiff sanctions helped convince Libya to disavow terrorism after the 1988 Lockerbie jetliner bombing. But those are generally the exceptions. "Putting a sanction on a country always seems to be an inexpensive way to address the problem," Senator Richard Lugar of Indiana has said. "Unfortunately, almost none of these sanctions have brought about change...
...three in the afternoon to watch it's most famous equestrian event - the Melbourne Cup. This year the excitement began prematurely when, on Sept. 18, part of the international lineup of horses was revealed in the daily Sydney Morning Herald. Racing fanatics were not the only ones to pay heed, and some Australian politicians were shocked at this year's contenders...