Word: banke
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...dollar didn't always enjoy the dubious honor of being the global currency a trader could most cheaply borrow. For much of the last decade Japan has been the world's largest moribund economy, with an economy so weak the Bank of Japan never dared to lift interest rates significantly above zero. During this time the Japanese yen was the currency traders loved. No longer, it seems. "The yen has become the least obvious carrying currency," says Credit Suisse's Desbarres, mainly because the near-zero interest rates Japan once exclusively offered are now available from central banks across...
...Until then the dollar carry trade is going to be a decidedly mixed blessing. Because the dollar is so cheaply available today it creates a source of global funding that grew dangerously scarce after the collapse of U.S. investment bank Lehman Brothers in mid-2008. That's the good news...
...months it had been clear that the FDIC, which maintains a fund to protect deposits when banks fail, would soon run out of money. By the FDIC's own revised estimate, the credit crisis, which has already claimed 95 banks this year, will cost the agency $100 billion. Half of that has already been spent. It's the other half the FDIC is having problems coming up with. As of the end of June, the FDIC had about $10 billion left in its insurance fund. That has put the FDIC in a tough spot. When a bank fails...
...back and lets his No. 2 take over questioning, especially when the evidence at issue is technical or scientific. Manuela Comodi, his assistant prosecutor, is a wide-awake pit bull who takes no prisoners. In a nearly two-decade career, she has taken down Catholic cardinals, Albanian mafiosi and bank presidents in major corruption and drug cases. She has been leading the attack on the defense team's scientific experts, and her sharp retorts and exasperated outbursts snap sleepy reporters back to attention. During hot afternoons in the summer, she furiously fanned herself with a black, lacy fan and initiated...
...still when factoring in the day-worker population - and the lack of infrastructure to accommodate it left swaths of the city exposed. "What we are seeing is a phenomenon that will affect many major cities in Asia," says Neeraj Jain, country specialist for the Philippines at the Asian Development Bank (ADB), which is headquartered in Manila. "Urbanization has been so rapid, yet the planning processes have lagged." (Read "Manila Through the Eyes of F. Sionil...