Even with occasional reversals of the downfall in foreign capital flows, emerging markets have already been coping with less benign external finance conditions (Figure 2).
And we say it is anything but benign, because it finances these regimes' bad behavior".
This newspaper would like to see much tougher regulation of American money-market funds, for example, which promise to pay all their investors all their money back the moment they ask for it.But plenty of non-bank finance is benign.
And, through a benign policy of neglect due to financing problems and other factors, the gardens also inadvertently came to demonstrate that the American holly is one tough plant, a woody ornamental that can survives decades of absolutely no care.
Still, Mr. Deshpande, for one, said he took environmental criteria specifically into account when considering companies to finance: "Is it environmentally benign, in terms of not creating a bigger problem with the treatment than the problem itself?" he said.
"At the time there were clear indications that the Greeks were forging the data, especially data on deficits to make their public finance situation look more benign than it really was," said Jürgen von Hagen, professor of economics at the University of Bonn.
More important has been the explosive growth in bank credit to the private sector in many countries, partly financed by foreign borrowing.In the extraordinarily benign climate of the past five years, countries have found it easy to attract such financing.
Ginny Fields, a Suffolk County legislator who had a breast biopsy two years that turned out to be benign, secured a $20,000 Suffolk County grant to finance the program locally.
So you might say, 'I read your ideas on finance reform.' That's benign but lets him know you appreciate him".
But New Labour refused to build any democratic counterweight to the power of finance capital, instead clinging to the "Fabian fallacy" that a benign and omniscient government could fix things from Whitehall.
