Word: alongism
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...dealmakers comes as a surprise because the sprawling bank has generated nothing but frightening headlines in recent months. Like the other big banks, Citi received billions in aid from the government, and has been back to the government's well more often than most. Last month, the Treasury, along with private investors, agreed to convert some of their Citigroup preferred shares into common stock, which will strengthen the company's capital position. All told, the government has injected $45 billion into Citi by buying preferred shares; it has also insured the bank against losses on as much as $300 billion...
Hidden by the big bottom-line losses are a number of Citi businesses that seem to be doing well. Along with mergers and acquisitions, analysts point to Citi's foreign-currency trading divisions and its business of processing payments and moving money around the world as two other bright spots. Earlier this month, Citi CEO Vikram Pandit said his bank was profitable in the first two months of the year. "M&A alone is not a big enough businesses to swing the bank," says analyst Richard Bove, who follows bank stocks at Rochdale Securities. "But put them all together, along...
...Washington and Mexico City focusing enough attention and resources under the anti-drug Merida Initiative toward local police reform? The U.S. needs to assure that enough money is put toward making the police forces along the border sufficiently robust - precisely so they'll be the first line of defense for the U.S., just as it's equally important that U.S. border police be better able to stop the flow of illegal weapons into Mexico. The U.S. also needs to be able to share more information with Mexico - like intelligence about [U.S.-based] gangs like Barrio Azteca, whose members are used...
...Shanghai not long ago, I took a walk from my hotel along Nanjing Road to the Bund, the promenade on the banks of the Huangpu where visitors from China's hinterland gather to gaze across the river, awestruck, at the ultramodern skyscrapers of Pudong that have transformed the city's skyline in not much more than a decade. It wasn't what was on the far side, though, that got my attention: it was the traffic on the river itself, great container ships, chuffing lighters, bulk carriers, every sort of waterborne vessel you could imagine carrying every imaginable cargo, churning...
...what one is used to in the West. In the U.S. and Europe, we have prettified our rivers, turning city waterfronts into places where genteel folk ride their bikes or snack in the open air. But in Asia - not just in Shanghai, but along the Chao Phraya in Bangkok, or in Hong Kong's harbor - waterways are not pretty at all. They are busy places of work and commerce, the arteries of trade, that age-old process of exchange that, more than anything else, has lifted millions of Asians out of poverty in two generations. (See pictures of China...