Word: bailouts
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...president worked with Summers, then undersecretary of the Treasury, on the United States bailout of the Mexican government...
...investors are balking. There may be hope: last week Japan's Prime Minister named a new team to head the central bank, and although some members have questionable deflation-busting credentials, they all advocate forcing banks to acknowledge their full losses, even if it then takes a public bailout to save them. That would be welcome in a country where the response so far has been tilting at windmills...
...Tokyo, where fashion is taken as seriously as politics, Junya Watanabe's collections spark more scrutiny than the latest governmental bailout plan. Maybe it's because while the parliament mires the country in the same old, same old, Watanabe and the avant-garde designer pack he runs with--Yohji Yamamoto, Issey Miyake and Rei Kawakubo--make Japan, and design aficionados worldwide, try to envision what is to come...
...Mizuho's plight is the latest indication that Japan's biggest and sickest banks might ultimately require government bailout and takeover. The day of reckoning may be approaching. New, tougher accounting rules laid down by Heizo Takenaka, Japan's reform-minded chief of the Financial Services Agency (FSA), begin to take effect on April 1. Under the guidelines, banks will be required to declare worthless many of the questionable loans listed on their books as recoverable assets. Designed to force banks to clean up their rotten lending portfolios, later reforms will also likely restrict the dubious practice of counting future...
...even if this bailout gets stopped up in the arteries of the legislative system, we ordinary Americans should still take to heart our patriotic duty toward McDonald’s and consume as much trans-fatty acid as possible at our local Golden Arches. For the whole issue really boils down to this nugget: which clown do we want representing our nation, 1) Ronald McDonald or 2) George W. Bush...