Now their thinking has changed.Senior debtholders, who rank first in the hierarchy of unsecured creditors if a bank is liquidated, have less to worry about.
The current government has changed certain senior army appointments.The government is fostering a new culture of respect for international humanitarian law in the armed forces.
"Both sides now think the cease-fire is a good idea and the early Israeli skepticism has changed," a senior administration official said, referring to Israeli and Palestinian positions.
"The US tone has changed," said a senior official present at the Washington negotiations last week.
The high level of investor interest underscores how extraordinarily Detroit has changed since its senior executives went to Washington for emergency aid in the fall of 2008.
"Rwanda's relationship with the rest of the world has changed," says a senior Western diplomat in Kigali, Rwanda's capital.As a result, Rwanda's finance ministry expects GDP to grow by 6.3% this year rather than the 7.8% previously predicted.
"Obviously the market has changed," said Ingrid Dudek, senior specialist in Asian contemporary art at Christie's, "but we saw across the board some really solid results, even after you cut out the Chinese modern masters".
"With all the corporate fiascos of recent years, the regulatory climate has changed," says one senior partner at a large buy-out firm, "No one wants the SEC pounding at the door".Outside America, the private-equity industry is less developed.
But that has changed, said David Guilmette, a senior executive for the insurer.
"The world has changed," said Stephen W. Young, a senior analyst with the Union of Concerned Scientists, a nuclear watchdog group.
