Word: rescuees
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Faced with a $42 billion loss at RBS and credit markets which appear to become more frozen as each day passes, the U.K. will move its economic rescue package beyond the banks into the system of private debt.
At the front end of the process, the U.K. has essentially begun that nationalization of some banks. It will end up with a 70% share in RBS. The stunning part of the program is, according to Bloomberg, that the government will require aid recipients to sign "specific and quantified" agreements...
Most economists believe that the Achilles Heel of the current U.S. bank rescue plan is that it gets money into banks, but the capital does not come out the other end in the form of loans to businesses and individuals. Businesses cannot conduct their affairs in the normal course. The...
The deferring of critical decisions about how to rescue the financial system, housing, rising unemployment, and consumer spending will be blamed on the months of transition between the election of a new president and his inauguration. The observation is fair but it is also pointless. If a runaway train is...
Eventually, the Indian coast guard picked up the surviving refugees and immediately noticed their abject state. The coast guard's report stated that there was a significant amount of water flooding the barge; Indian ships reportedly attempted to search for the 300 missing but were able to rescue only nine...