Word: banke
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Much of the crisis in the banking industry has been blamed on the inaction of the boards of directors at companies including Bank of America (BAC) and Citigroup (C). Some of Citi's most prominent members have left, probably not entirely of their own volition. The board at B of A has been savagely attacked over the last several weeks because it did not insist on better due diligence in the buyout of Merrill Lynch and for allowing large bonuses to be paid to employees after the firm had taken TARP money...
Each of these four companies has directors who chose not to ask hard questions and demand answers. How does a bank that was making $1 billion a year suddenly make $10 billion? How does a car company that nearly went out of business when oil prices rose sharply over three decades ago decide to reduce spending for the development of fuel-efficient vehicles...
...Gregg's wife, Kathleen, was abducted from the couple's suburban Washington, D.C. home at knife-point, driven to a local bank and forced to withdraw money. She was unharmed in the incident...
...rule out Republican proposals to use a fund set up in early 2008 to modernize the industry rather than TARP money - a move Pelosi vehemently opposed. Pelosi was forced to swallow a compromise, though that deal died in the Senate and ultimately President Bush used money from the bank bailout to help Detroit. (See pictures of the remains of Detroit...
...easy to overstate the problem. Daschle will be a footnote in the history of the Obama Administration, certainly when compared with monumental projects like the stimulus package and the bank bailout. But it might be time for Obama to take a breath, to rethink, if not reboot. The more I think about the stimulus supertanker, the more questionable it seems. Not substantively: most of the money in it is justifiable. But a case can be made that it should have been divided into discrete packages: a short-term booster with tax cuts, state aid and shovel-ready public works; then...