Word: banke
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Dates: during 2000-2009
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...that three months of supervisory scrutiny of the country's top 19 banks hasn't produced some grim news. If the economy dropped to Depression-era levels of unemployment and credit shrinkage, according to the Treasury and the Federal Reserve, those firms could lose nearly $600 billion by the end of 2010, on top of the $350 billion they've already lost since mid-2007. Bank of America needs nearly $33.9 billion in new capital, Wells Fargo needs $13.7 billion and Citigroup needs $5.5 billion. Altogether, 10 of the top 19 need $74.6 billion in additional capital...
...remarkable bit of salesmanship, Geithner has managed to package those findings as positive. Most of the banks can meet or beat the newly imposed government capital requirements on their own, either by selling off parts of their business, converting loans into stock or participating in the fledgling government-led effort to get toxic assets off their balance sheets. And those that are short on cash won't need more in total than the $110 billion to $135 billion the Treasury still has from the original $700 billion in TARP funds that Congress gave the Bush Administration for bank rescues last...
...news, leaking out over the course of several days, likewise lifted the markets, sending bank stocks up dramatically for the week by close of business Thursday. And for all the grim numbers, the banks themselves were touting the results, too. "The regulators demonstrated that the industry is strong now and, should conditions worsen, will only need minimal capital to remain strong," says Scott Talbott, a top lobbyist for the banks...
...three months after he rolled out his bank-rescue plan to disastrous reviews, Geithner, with help from Ben Bernanke and others, has bolstered the confidence of the banks, Congress, the stock market and much of the country. In an economy that runs on credit, that's half the battle. (See pictures of the dangers of printing money...
...quash political opposition, shackle democracy and siphon off untold fortunes from the national coffers for their personal use - even donations to French political parties of all stripes. According to the Transparency International complaint that Desset has decided to investigate, the Bongo and Sassou-Nguesso families hold 70 and 111 bank accounts in France respectively, and own a total of 31 pricey homes or buildings in and around Paris. They also boast entire fleets of cars in France. Listed in the Obiang Nguema family's holdings are two luxury automobiles and a $44.2 million private jet (though the Equatorial Guinean first...