Word: bails
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...just as the Democratic challenger in the 25th, Joe Garcia, is neck-and-neck with the Cuban-American GOP incumbent, Mario Diaz-Balart). The key is how many Cuban-Americans Obama can poach from the GOP; and Obama volunteer Jose Realin thinks he can deliver them. Realin, 38, a bail bondsman and a lifelong registered Republican now on the Democrat's side, was heading out of the Obama campaign office in the 25th on Monday evening to knock on doors in Cuban neighborhoods. "They worry that Obama won't be tough enough with Castro," he said, "but the economy...
...hydrocarbon windfall that fueled the Russian state's recent revival appears unable to offer a solution to the crisis. Russian foreign-currency reserves that stood at almost $600 billion last August have shrunk to $485 billion as the state has been forced to spend to bail out state-run banks and prevent abrupt devaluation of the weakening ruble. There is no telling if the policy has worked, though, and there's worse to come: major state-run corporations such as Gazprom and Rosneft, as well as Russia's regional governments, have accumulated debts amounting to some $448 billion that...
...plus side, Wall Street firms are expected to pay out $14 billion in year-end bonuses this year. It's still a lot, and most likely much more than what the firms would have paid out had the government not decided to bail out the financial sector. But bonus pay is down just over $19 billion from a year ago. What's more, Brad Hintz, an analyst at money manager Sanford Bernstein, predicts Wall Street employment will drop from its mid-July peak by around 43,000 employees by the end of next year...
...issue is whether the money will come from $25 billion in loan guarantees Congress approved in September specifically for the automakers and their suppliers or from the $700 billion in federal assistance that Congress approved to bail out struggling banks. GM wants the money to come from the $700 billion and to save the $25 billion to pay for new vehicle development, noted Sean McAlinden of the Center for Automotive Research in Ann Arbor, Mich...
...plane again. We should ban banks from risk-taking because society is going to pay the price. This is not the first time. In '83 we paid the price. In '91-'92 we paid the price. They keep their bonuses every time, and every time we bail them out. Now, the fact that things came back or didn't come back is irrelevant. The fact is that we took risks and they got paid...