Word: banke
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...Fight or Fix? "Your bosses are sociopaths! A bunch of Ted Bundys in $10,000 suits!" The words were hurled by an unnamed Democratic Congressman at a bank lobbyist who must also remain anonymous. Suffice it to say the lobbyist is getting used to hostile greetings. "We get it: we're al-Qaeda, and nobody wants to be seen with us," he says. "Obviously, we're going to take some abuse in 2010." Like most bank lobbyists, he says he supports financial reform - as long as it doesn't include a consumer agency or a bunch of other provisions that...
...however, India may finally have one up on its high-octane rival. Though India still can't compete on top-line economic growth - the World Bank projects India's gross domestic product (GDP) will increase 6.4% in 2009, far short of the 8.7% that China announced in mid-January - India's economy looks to be rebounding from the downturn in better shape than China's. India doesn't appear to be facing the same degree of potential dangers and downside risks as China, which means policymakers in New Delhi might have a much easier task in maintaining the economy...
...India's government stimulus will total $36 billion this fiscal year, or only 3% of GDP. By comparison, China's two-year, $585 billion package is roughly twice as large, at about 6% of GDP per year. Most important, India managed to achieve its substantial growth without putting its banking sector at risk. In fact, India's banks have remained quite conservative through the downturn, especially compared with Chinese lenders. Growth of credit, for example, was actually lower in 2009 than in 2008. As a result, economists see continued strength in India's banks. A January report by economic-research...
...Indian economy is not immune to risks. The government has to contend with a yawning budget deficit, and last year's weak monsoon rains will likely undercut agricultural production and soften rural consumer spending. But rapid growth is expected to continue. The World Bank forecasts India's economy will surge 7.6% in 2010 and 8% in 2011, not far behind the 9% rate it predicts for China for each of those years. Indian Prime Minister Manmohan Singh, when speaking about his country's more plodding pace of economic policymaking, has said that "slow and steady will win the race...
...dirty tricks campaign in the mid-2000s aimed at discrediting Sarkozy - then a popular minister who shared de Villepin's ambition to succeed President Jacques Chirac. Sarkozy's lawyers argued that de Villepin sought to exploit a fake list of French notables, including Sarkozy, who allegedly held secret bank accounts containing illegal kickback money. (See pictures of Sarkozy...