Word: bankes
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Dates: during 2000-2009
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...outgoing enforcement chief, Linda Thomsen, said Stanford promised "improbable and unsubstantiated high interest rates" allegedly earned through a unique investment strategy. The bank purportedly achieved double-digit returns on its investments during the past 15 years...
...force on Tuesday, dragging the broad market indexes down near the lows reached last November. The Standard & Poor's 500 index, weighed down by financials, fell 4.56%, while the Dow Industrials sank 3.8%, falling to within a fraction of its November 2008 low. Among the hardest hit sectors were bank stocks, down 10%, oil service stocks, down 8.2%, and semiconductor stocks, which fell 6.7%. Gold Mining was among the rare winners Tuesday, with the industry group rising 2.5%. (See pictures of the top 10 scared traders...
When most people hear the term "green building," they probably imagine something like Bank of America's (BoA) soon-to-be-completed Midtown Manhattan headquarters. The skyscraper will have floor-to-ceiling insulating glass walls, automatic light dimming, water recycling, air filtration and on-site power generation. Those green features have helped make the BoA Tower the first skyscraper to win a Platinum Leadership in Energy and Environmental Design (LEED) rating, the highest possible such award. They also helped ensure that the tower won't be cheap - the project is estimated to cost about $1 billion. (Read "Building Materials: Cementing...
...Schwartz should know. In 1963, she and Milton Friedman published the 888-page tome “A Monetary History of the United States.” In it, they argued that the Federal Reserve Board failed to prevent a succession of bank failures and, thus, failed to inspire confidence in the market in 1932 and 1933 because it lacked the “vigorous intellectual leadership” necessary to do so. Weak leadership did not overcome antagonism between the 10-year-old Fed and the New York Clearinghouse—a fate that could befall Geithner?...
...Picture this: a Federalist fortress in the Financial District of Manhattan, whose members represented 52 national and state banks, as well as the U.S. Treasury itself. Not the Federal Reserve Bank of New York, not the Federal Reserve System, not any central bank—this node of finance was the New York Clearinghouse. Established in 1853, the Clearinghouse pooled reserves so that member banks could clear debits and credits daily. It also functioned as a private central bank, which took care of its own in the many banking panics of the late 19th century—especially...