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In 2005 Gregory made one of his harshest personnel decisions, one that would become legend within the firm. You guys are drawing down ten-, twenty-million-dollar bonuses after America went through the worst economic year that it
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3 percent since the first quarter of 2012, a clear refutation of the obsolete sticky-wage theories of Keynes and Krugman. For those MFIs who are legally allowed to work with savings and borrow from the population, this type of funds are the main source of assets, primarily the loan portfolio.
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Given the tumult in the market, Willumstad was eager to announce that Greenberg was returning to AIG as its chairman emeritus. The CIA covertly aided this rebellion, which may be part of the reason why the Chinese have shown so little flexibility in dealing with Tibet.
The essential ingredients for rapid growth following a crisis are accountability, transparency, fiscal consolidation, and an equitable distribution of sacrifices. It sharply rose again in 2009, reaching a new height at 104 per cent, essentially staying at the same level.
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