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...swept communism from Eastern Europe, the region is in the middle of another maelstrom. The global economic crisis has hit countries like Latvia, Hungary and Poland particularly hard. Eastern Europe's boom over the past few years was fueled in part by heavy borrowing from Western banks and easy access to foreign currency denominated loans. Now, with credit dried up, huge debt loads to pay and Eastern European currencies in free fall, the good times are truly over...
...main concern is that all banks have equal access to government funds," says Fine...
...unclear, though, whether Fine's special access will translate into financial help. Geithner has said he will spend a certain portion of the remaining $350 billion in the Treasury program formerly known as TARP investing more money in the nation's banks. But he hasn't said whether he intends to use the money to shore up the larger troubled banks or as grants to some smaller banks that don't necessarily need the funds but could use the additional money to make more loans. The government is reportedly in talks with Citigroup to take ownership of as much...
Under the previous Administration, small banks complained they did not get the same access that large banks got to TARP funds. Some 600 small banks have filed applications to get financial-rescue funds, and they are still waiting for a response from Treasury. And that has driven up the resentment of large banks by their smaller competitors. "There is no future for the miserable eight," says Rusty Cloutier, the CEO of MidSouth Bank, a community bank in Lafayette, La., referring to the nation's largest banks. "No one is dealing with that. We can keep pumping money into them...
...ViddyHo.com asked visitors to log into their Google Talk accounts. The site used the log-in information to propagate the worm by sending replicas of the original message to the users’ contact lists. The account information may have been stored and used to access accounts by the owner of ViddyHo.com...