Word: bankers
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...John Glenn (D-OH), Alan Cranston (D-CA), Donald Riegle (D-MI) and Dennis DeConcini (D-AZ) - had little in common. Most of them came from different states and different parts of the political spectrum. One of the only elements that linked the men together was Charles Keating. The banker had been a major contributor to each of their campaigns, donating close to $1.4 million dollars total. Keating also considered John McCain to be a close personal friend, with whom he'd shared vacations and business ventures...
...frozen market for commercial paper, offering to loan companies unlimited amounts of money three months at a time, sometimes with little or no collateral, a move unseen since the Great Depression. And at the Treasury, Paulson appointed a 35-year-old former Goldman Sachs banker as temporary head of the agency charged with using the $700 billion to lift bad loans out of the financial system. The banker, Neel Kashkari, immediately took bids from companies interested in running a market to price the bad loans. On Wednesday morning, in a surprising move, the Fed announced a half-point interest rate...
...Badarpur, Iyer is helping his class battle integers and geometry. There are moments of hilarity as the English-educated teacher struggles for the right Hindi terms. Next door, Riya Goenka, another Teach India volunteer and a former banker, is leading a class in spoken English to half a dozen teenagers, all of whom want to be retail or beauty-parlor assistants. This is the India in the dawn - whom economic growth has touched just enough to raise aspirations without providing avenues to fulfill those aspirations. "I believe the single most important factor here will be education," says Iyer...
Fortunately, that sort of panic - which brought down British lender Northern Rock a year ago - was the exception. But the loss of confidence underlying it is every banker's worst nightmare - and every bank regulator's, too. At Bradford & Bingley, staff were given forms to hand out to customers explaining what had happened and why their money was safe. Elsewhere, it was national authorities who sought to reassure, most notably in Ireland, where the government announced an unprecedented $560 billion guarantee to cover the deposits and debts of the nation's six biggest banks for the next two years...
...holiday of Hari Raya, the final days of Ramadan, is usually a joyous time in Malaysia. The offices of Kuala Lumpur's skyscrapers empty as Malaysians travel to their home villages to celebrate with family and friends. But this year is different. As Ahmad Mustapha, a 48-year-old banker, boarded a bus in Kuala Lumpur with his wife and two children to visit his parents, all he could think about was what might happen to him and to his country when he returned to work. After Wall Street's U.S. stock swoon on Sept. 29 and Washington's inability...