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...bank rescue plan is that it gets money into banks, but the capital does not come out the other end in the form of loans to businesses and individuals. Businesses cannot conduct their affairs in the normal course. The average citizen cannot get a home loan or expand his access to credit, even through it is his taxes present and future, which are the source of the bank bailout capital...
...Clearing access to credit for banks, firms and consumers is crucial. Interest rates may be at their lowest since the Bank of England was created more than 300 years ago, and the banking industry may have already received $55 billion in government money, but nervous British lenders are simply not lending enough. The result: British GDP will tumble 2.7% this year, Ernst & Young forecast on Monday, the biggest drop since 1946. "Without additional government intervention," it added, "a deep recession could evolve into a depression...
...outfits picked out. American expatriates are debating the relative merits of competing inaugural balls, one hosted by Democrats Abroad, another by the U.S. embassy. Tickets for both are sold out, and for those who are neither Democrats nor American, viewing parties have been planned across the capital. Afghans with access to satellite television are charging car batteries to ensure that not one minute of the inaugural festivities will be lost to the city's chronic power outages. Not even Saturday's suicide car bombing in the capital, which killed four Afghans and one American, has dimmed hopes that Barack Obama...
...Citi will have access to loans from the Federal Reserve in addition to the loss sharing program. This federal support is based on extremely complex rules, but the net of it is that the bank will have access to the cash it needs to keep from failing...
...Secret Service, they're insane," James Moran, a Virginian Democratic Congressman, told the Washington Post about the agency's decision. "This is security on steroids." He fought - and succeeded in reversing - a Secret Service decision to bar pedestrians from the 14th Street bridge, which would give walkers the closest access to the Inauguration. However, major Virginia roads inside the Beltway encircling the capital will be reserved for official vehicles only...