Economic
US Treasury Details Plan to Rescue Banks
This is the VOA Special English Economics Report.
This
week American Treasury Secretary Tim Geithner announced details of a plan aimed
at removing billions of dollars in bad debts from American banks.
The
government program has two parts. One
involves buying groups of loans, like home mortgages. The second involves buying securities or
financial investments tied to loans. Under
the plan, the federal [...]
Bonus Pay at AIG Strikes a Nerve
This is the VOA Special English Economics Report.
Anger
was the common reaction of Americans this week to bonuses paid at rescued financial
companies. Lawmakers held hearings and President Barack Obama denounced the
extra pay at American International Group. The huge insurance company nearly
collapsed last September.
A.I.G. chief Edward Liddy waits to speak to lawmakers on Wednesday. Code Pink [...]
Global Recession Hits the Developing World
This is the VOA Special English Economics Report.
Both
the World Bank and the International Monetary Fund expect the world economy to
shrink this year for the first time since World War Two. As recently as
January, the I.M.F. had predicted growth of one-half percent. But this week its
chief, Dominique Strauss-Kahn, said the world has entered what he called [...]
