Word: bankes
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Dates: during 2000-2009
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...rally that took the S&P 500 up 6.4% to 720 got most of its fuel from bank stocks. Whipping boy Citigroup (C) moved up 38% and that pulled other banks such as Wells Fargo (WFC) up almost...
...moment, there are few buyers for the toxic assets that are poisoning Citigroup, Bank of America and other major financial players. The unsellable loans sit on the banks' balance sheets at a huge loss, priced from zero to an optimistic 60% of what they might have sold for before the crash...
...World Bank said it first: in 2009, the global economy will contract for the first time since World War II. That's the banner headline of the international financial group's March 9 report, but, particularly for developing countries, the devil runs rampant through the details. (Really, when a report is titled "Swimming Against the Tide," you know there's not much good news forthcoming.) The World Bank paints a downright dismal picture of the growth prospects for developing countries, which are just now beginning to feel the full repercussions of the credit crisis that started in the United States...
...World Bank does its best to offer suggestions to get the world out of this quagmire. That might be the only bright part in this otherwise sobering assessment - the Bank says there is "growing recognition" of the steps that need to be taken. Chief among those is the need to restore confidence in the financial system and the demand for foreign trade. Most stimulus packages are designed to meet these two needs. More difficult to swallow might be the recommendation to up the "quantity and quality" of direct aid to developing countries, an area of the budget many countries...
...present in another rapidly growing country. The country has both an abundance of national resources and a large supply of workers who can be trained to work in factories. China has also grown and continues to grow with virtually no restrictions on how industry effects the environment. The World Bank estimated that 700,000 Chinese die prematurely due to poor air quality. Perhaps the best way to look at that number is that it is the price of progress...