Word: banke
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...would say, 'What can I do for my brother? What can I give the children?' " Rwaramba said. She also testified that she was "flabbergasted" when the sheik wired her $35,000 because Jackson was so broke that he did not even have a bank account. She claims the sheik apologized for what he considered a paltry sum of money and said that "next time it would be more." Jackson reportedly used the money to pay his utility bills at Neverland...
...contender to be Obama’s Treasury secretary, Summers, who led the Treasury under President Clinton from 1999 to 2001, will be advising the president on both domestic and foreign economic policy. He will likely be working closely with Obama’s nominee for Treasury secretary, Federal Bank of New York President Timothy F. Geithner, who reportedly maintains an excellent relationship with Summers. The position is considered to be a stepping stone to the Federal Reserve chairmanship, which is currently held by Ben S. Bernanke ’75. Richard Zeckhauser, Summers’ close friend and colleague...
...economists: Jeffrey Sachs notes that migration “will never substitute for economic development at home.” But Pritchett is one of the few who has explored how big of a punch higher immigration rates can pack. In a recent book, Pritchett cites a 2005 World Bank study which claims that if the 30 developed countries in the Organization for Economic Cooperation and Development (OECD) permit just a 3 percent rise in immigration, the gains to citizens in developing countries would be about $300 billion. Right now, the developed world spends about $70 billion in foreign aid?...
...This doesn't seem like a simple cyclical shift in unemployment," says Thomas Lam, an economist who tracks the U.S. economy at the Singapore-based United Overseas Bank. "What we are seeing is a structural problem in the U.S. economy, and that means it will take a lot longer for the unemployed to find jobs." (See pictures of the global financial crisis...
...Again, the stock would probably rally. But the question is, for how long? And none of these moves address the problem that is really holding down Citi's shares. The bank has bad loans, and no one, probably not even the executives at Citi, know just how bad they...