Ferced; Suitcase Investors

Bapopik at AOL.COM Bapopik at AOL.COM
Fri Jun 15 20:29:43 UTC 2001

   Today's FINANCIAL TIMES has a nice section on Latvia.  Riga (the capital) is preparing to celebrate its 800th anniversary later this year.  Latvia wants to join the EU; Russians are leaving here fast.


   From the FINANCIAL TIMES, 15 June 2001, pg. 6, col. 3:

   The once obscure Federal Energy Regulatory Commission has been caught in Washington's political crossfire and growing national scrutiny. (...)
   Ferc has been widely condemned this year for its refusal to cap western electricity prices, and disparaged by overwrought California ratepayers, who now use the term "Ferced" instead of "overcharged."

(It _is_ a four-letter word that begins with F--ed.)


   From the FINANCIAL TIMES, "China's bull run may be over amid crackdown," 15 June 2001, pg. 4, col. 2:

   H shares (Hong Kong's China enterprises--ed.) have fallen on reports of a purge of "suitcase investors", mainlanders who skirt China's capital account controls by smuggling money into Hong Kong by hand.
   (...)(Col. 5--ed.)
   While "suitcase investing" was an irritant, the government's main concern was to (Col. 6--ed.) stop speculators from borrowing money in Hong Kong using mainland assets as collateral.
   This phenomenon occurred during the 1997 "red chip" boom with devastating results when the bubble finally burst.

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