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Word: bankes (lookup in dictionary) (lookup stats)
Dates: during 2000-2009
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...Geithner's first big day as Treasury Secretary: a speech at 11 outlining the revamped bank bailout that he has redubbed the Financial Stability Plan, then an appearance before the Senate Banking Committee at 2:30 to take questions on the topic...

Author: /time Magazine | Title: Justin Fox Reviews Tim Geithner's Big Day | 2/10/2009 | See Source »

...Following the collapse in September of U.S. investment bank Lehman Brothers, RBS's depleted capital reserves - a consequence of that ABN deal - meant "the spotlight fell on us, and the share price dropped 60% in two days," Goodwin said. Added McKillop: "We are sorry we bought ABN Amro." At HBOS, said Hornby, who stepped down as its CEO in 2008 after only two years in the job, "years of reliance on wholesale funding left us in a vulnerable position." No kidding. When the meltdown in those markets occurred, HBOS was history. "The fundamental mistake that HBOS made was," said Stevenson...

Author: /time Magazine | Title: Britain's Bankers Say Sorry — Again and Again | 2/10/2009 | See Source »

...Still, for all the needling - bankers were submitted to three hours of lawmakers' questions - taxpayers got little in the way of detail about how or why the banks blew it. Stevenson insisted the HBOS board "was all over" risk management and "stress-testing." It was external factors, he said, that ultimately did it for the bank. Goodwin claimed that at "no point did anyone get the scale or the speed of [the slowdown], and that was what was so damaging about this...

Author: /time Magazine | Title: Britain's Bankers Say Sorry — Again and Again | 2/10/2009 | See Source »

...More tempting for the MPs: the issue of bankers' pay. Goodwin, who said he went without a bonus last year after stepping down eight years into the job, admitted he has lost $7.4 million as RBS shares have plummeted. Amid reports that the bank plans to pay its existing staff bonuses for 2008, all four former execs agreed that changes to the bonus system should be looked at. Hornby reckoned that bonuses "do not reward the right kind of behavior" and suggested they be tied more closely to long-term performance. The 42-year-old, who also went without...

Author: /time Magazine | Title: Britain's Bankers Say Sorry — Again and Again | 2/10/2009 | See Source »

...right, look center, etc. Sitting in the witness chair before a congressional committee, though, he is brilliant - at least when he's not having to spend all his time apologizing for screwing up his tax returns, as he did during his confirmation hearing last month. Today, before the Senate Banking Committee, he answered the questions he could easily answer with brisk clarity and deflected the ones he couldn't with aplomb. ("I understand what you're asking," he said with the faintest hint of a smile when Montana Democrat Jon Tester wanted to know what was the upper limit...

Author: /time Magazine | Title: Justin Fox Reviews Tim Geithner's Big Day | 2/10/2009 | See Source »

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