Word: banke
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...trip to China for all the wrong reasons. Golden, of Lenox, Mass., had a prostate condition that required medical treatment during a Yangtze River cruise. He had to endure an invasive procedure without anesthesia at a small, gritty hospital in Fengdu, an ancient city on the river's north bank. And that was the easy part. "The Chinese accept it because this is what they have," he says...
...first time in a decade, there are economies in Latin America that are doing better than in rich countries.' AUGUSTO DE LA TORRE, chief economist at the World Bank, on why fewer Latin Americans are immigrating...
...helpful thing when recession returns. "We've done a really good job at coming to terms with how to manage. Our weaknesses 25 years ago led to strength. We're much stronger as a result of our struggles," says Mike Anselmo, regional manager of PNC Financial, a dominant bank in the area. Anselmo's firm is a case in point. Unlike so many larger banks that got tangled in the subprime scam, PNC Financial avoided exposure to derivatives or combustible mortgages. Now PNC is building the first office tower to go up in downtown Pittsburgh in 20 years. There...
...Part of the failure is due to mismanagement by the U.N., the International Monetary Fund, the World Bank, and other NGOs. Even though stupidity has been rife in implementation, the wealthiest donor nations have defaulted on pledges and must now increase aid by $18 billion a year to meet the original goal. Assistance has been anemic when it was supposed to be titanic. Bad situations will likely worsen with the financial implosion, especially in Latin America and Eastern Europe, where countries depend heavily upon foreign capital. Turbulence will mean compression of capital flows, labor immobility, and restricted access...
...first major issues since the Federal Government started taking one unprecedented step after another to try to jolt lending back to life - cutting interest rates, starting a program to buy short-term corporate debt, authorizing hundreds of billions of dollars to get toxic mortgage-related assets off bank balance sheets and inject capital into the companies. "We were really worried," says Jonathan Miller, the state's secretary for finance and administration. "We had encountered a lot of pessimism and skepticism that we'd be able to sell these bonds." Bolstered by how the Kentucky issue went, Ohio followed with...