Word: bankes
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Dates: during 2000-2009
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...your new computer or larger apartment, consigning them to mere comfort status. Rather than binging on such big, costly amenities, a better - and cheaper - strategy for boosting your daily satisfaction quotient would be to add many more simple, inexpensive ones ... After all, on any given Monday morning, your comfortable bank balance pales beside a good cup of coffee...
...year. "There is just too much variability in year-end pay," says Martin Teevan, who joined Cantor & Co. from Goldman Sachs in December, and is the head of high yield and distressed bond trading. "There is a lot of concern that no matter how well you do at Big Bank XYZ, you just won't get paid...
Citigroup chief financial officer Ned Kelly was trying to explain an aspect of the bank's better-than-expected first-quarter results on Friday morning when star analyst Meredith Whitney interrupted him. "Could you dumb that down for me?" she asked...
...what does that actually mean, dumbed down? Whitney's question was specifically about Citi's $1.7 billion in investment-banking profits in Europe, and Kelly's eventual answer was basically just that business had been good. But bank financial statements are never that simple: Citi's overall investment-banking earnings were boosted by a $2.5 billion derivatives valuation adjustment "mainly due to the widening of Citi's CDS spreads." In somewhat dumbed-down but still utterly flummoxing language: credit-default swap (CDS) spreads represent the cost of insuring against Citi's default. That cost went up in the quarter...
...would behoove him not to make the same five-decade-long mistake his nine predecessors made with Castro and needlessly alienate the hemisphere by trying to isolate Chávez. Says Bernardo Alvarez, Chávez's former ambassador to the U.S. and now head of the development bank for Chávez's Bolivarian Alternative for the Americas (ALBA): "Chávez has changed the hemisphere, and the U.S. has had to change with it. Obama will have to change...