Word: bankes
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Dates: during 2000-2009
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...When people look back on the near-collapse of the banking system they may say that the Congress and Henry Paulson threw enough money into the path of the oncoming failure of the credit system to slow it down so that the government could properly go through the process of guaranteeing parts of the balance sheets of firms including Citigroup (C) and Bank of America (BAC). The initial TARP may also have provided time for the new Administration to put together its widely hailed bank "stress test" program meant to determine which of the big financial institutions have dysentery...
...Banks stocks reacted to the news, which took the markets completely by surprise, by driving up Wells Fargo's stock by 32%. Bank of America (BAC) shares jumped...
...Oddly absent from the discussion of how well Wells Fargo did is why the government was in the midst of testing bank balance sheets at all. The experts at the Treasury had been thrown off the scent and consequently had missed the fact that there was not need to test what is already working well. The same holds true for the Geithner plan to take toxic assets off bank balance sheets. It is academic now. What banks are earning from the difference between the cost of capital and the income from lending is now great enough for the banking system...
...World Bank announced this week that while China's growing economy had lifted a half billion people out of poverty from 1981 to 2004, medical costs remained one of the top financial threats to low-income rural residents. With that burden in mind, Beijing has said it will spend $125 billion over the next three years building thousands of clinics and hospitals and expanding basic health care coverage to 90% of the population. "This commitment to improve equitable access to essential health care for all in China is quite important," says Sarah Barber, a China-based World Health Organization expert...
...China has faced health care problems for years, but the economic crisis has increased the need for reforms. The lack of an adequate safety net forces Chinese to bank huge sums to cover treatment costs. By building a sounder health care system - with more hospitals and clinics and broader medical coverage - Beijing hopes it can convince consumers to spend more of their savings and boost economic growth...