Word: bankes
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Dates: during 2000-2009
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Beleaguered financial institutions looking to shore up their funding are battling for your deposit dollars, driving interest rates on bank products abnormally high. At first glance, that's fantastic news for consumers who are finding CDs that yield 4% and money-market accounts that pay 3%. But the competition for money - which will surely intensify as new bank holding companies like Morgan Stanley, Goldman Sachs and American Express amp up efforts to attract deposits - is also squeezing banks' profit margins, further straining an already weak industry and stressing smaller banks, many of which didn't go hog wild making risky...
Consider that the average yield on a one-year CD is 2.39%, the same as it was in mid-August, according to a weekly survey by Bankrate.com, even though the prime rate - the rate at which banks lend to their most creditworthy customers - has fallen from 5% to 4%. That means a bank that used to borrow at about 2.5% and lend at 5% now borrows at 2.5% and lends at 4% - an entire percentage point has been stripped from the bank's ability to make money. More than half of all banks saw their net interest margin - a measure...
Taking the lead in pricing up the market are the institutions most battered by the credit crisis and flagging economy. Among the companies offering the highest yields on CDs are GMAC, the financing arm of the carmaker GM; Corus, a Chicago bank that has lost substantial money on construction loans; Wachovia, the Charlotte, N.C., bank whose sale to Wells Fargo was brokered by regulators in October; and the bank affiliate of the insurance company AIG, which the Federal Government started bailing out in September...
...determined, in no small part, by how events in Hebron unfold in the coming hours and days. The question may become somewhat moot if the current indicators on the likely outcome of February's election hold true, because Netanyahu has an ideological aversion to ceding territory in the West Bank and has made no secret of his disdain for the U.S.-sponsored peace talks between the current government...
...days, Paulson had to listen to lectures from a series of Chinese officials about all the additional steps the U.S. must take to solve its economic mess. The U.S. had to stop consuming and start saving, because "global imbalances" were at the root of the financial crisis, People's Bank of China Governor Zhou Xiaochuan told Paulson. And, added Vice Premier Wang Qishan, Washington needed to "take all necessary measures to stabilize its economy and the financial market to ensure the security of China's assets and investments...