Word: banke
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...them with those of peers who didn't get the same sort of education. "Until you have experimental evidence, it's all a little speculative," says Michael Sherraden, a professor at Washington University in St. Louis who is conducting a seven-year, randomized, controlled study on whether giving children bank accounts inculcates the habit of saving - a program already being tried on a large scale in the U.K. Yes, good, solid research like this takes a lot of time and resources. But if what we're doing right now isn't working, it's in our own best interest...
...civil but pointed inquisition that bodes well for its future. "It sounds to me like selling a car with faulty brakes and then buying an insurance policy on the buyer," he said at one point while grilling Goldman Sachs CEO Lloyd Blankfein about the dodgy mortgage securities the bank sold. The dark arts that produced this crisis may finally be coming into the light...
Anger over the financial crisis got perhaps its most prominent outlet yet as a federally appointed panel grilled top bankers about their firms' roles in the economic downturn. On Jan. 13, the panel questioned the chiefs of Goldman Sachs, JPMorgan Chase, Morgan Stanley and Bank of America. The 10-member bipartisan Financial Crisis Inquiry Commission, created by Congress last year, is tasked with reporting on issues ranging from mortgage fraud to regulatory lapses by Dec. 15. Some analysts say the hearings are an important step toward reform; others call them a distraction, saying the causes of the crisis are clear...
...financial crisis that struck the world this past November reminded all Americans just how important literacy of the financial markets and sound business practices are to economic vitality. President Barack Obama and the leading economists at the world’s biggest bank proclaimed that this was the most severe economic shock since the Great Depression. Articles were written, memos were circulated, and legislation was signed, but all to no avail...
...seems like a distant prospect, and some analysts say Kazakhstan's offer to Belarus is most likely a bluff. It would be costly and difficult for Kazakhstan to ship oil to Belarus, and Belarus could not afford to pay fair-market prices anyway, says Denis Borisov, an analyst at Bank Moskvy, one of Russia's largest banks. Kazakh companies could, however, undercut Russian bids for the Naftan refinery, he says, which would be a major blow to Russia's energy strategy in Eastern Europe. (See pictures of the Russia-vs.-Georgia...