Word: banke
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...bosses at RBS, the bailout will be particularly humiliating. Only last April, the Edinburgh-based bank called on investors for some $20 billion in much-needed capital, after subprime-related losses - and an ill-timed takeover last year of Dutch bank ABN Amro - blew a big hole in its balance sheet. "It's immensely regretful we're coming to shareholders to raise funds again," said RBS chairman Tom McKillop. "It's something we feel bad about." So bad, in fact, that McKillop now plans to quit next year; RBS CEO Fred Goodwin resigned Monday, as did his counterpart at HBOS...
...effort to revive Britain's flagging banking sector has reversed the government's fortunes. Prime Minister Brown's broadly popular plan - which includes extra liquidity for banks and government guarantees for their debt - has inspired similar rescue packages across Europe. Still, one model won't fit all. "Some countries consider they don't have an insolvency problem, and are focusing more on providing guarantees to improve liquidity in the markets," says Antonio Ramirez, banking analyst at Keefe, Bruyette & Woods in London. (On Monday, for instance, Spain said it would guarantee new bank debt until...
...attended public school before receiving degrees from Yale (B.A. in 1973) and M.I.T (Ph.D in 1977). In 1976 he briefly worked for the central bank of Portugal as part of his doctoral coursework • Married to economist Robin Wells
...Another problem facing Washington is to bring the federal debt in line, said James D. Wolfensohn, former President of the World Bank...
...years ago, Harvard Business School opened its doors with the intention of training the next generation of business and financial leaders in the wake of the Panic of 1907 when bank runs brought the financial system to a standstill...