Word: bankes
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Dates: during 2000-2009
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...Street's plunge. Japan's Nikkei Index fell 4.1% on Sept. 30; after declining in early trading, stocks in China and Hong Kong eked out small gains. "The reaction was not as bad as I had feared," says Dariusz Kowalcyzk, chief investment strategist of CFC Seymour, a boutique investment bank in Hong Kong...
...because of bad judgment about what to invest in? Can I get bailed out when my portfolio tanks? It's a variant on the old saw (often attributed to J. Paul Getty, although I'm sure somebody must have said something like it before him): "If you owe the bank $100, that's your problem. If you owe the bank $100 million, that's the bank's problem." Leveraged financial institutions (banks, investment banks, hedge funds) make investments with lots of borrowed money, so when their portfolios tank they can quickly get into a situation where they can no longer...
...there's a decent chance you haven't even felt it. Why, you may be asking yourself, does everyone think there's such a big a problem when you're still being offered credit cards in the mail and 0% financing at the car dealership? Maybe you used to bank with Washington Mutual or Wachovia and overnight you've become a Chase or Wells Fargo customer, but if your money's still there, why does the rest matter...
...mood at banks more generally is cautious. The most recent Federal Reserve survey of loan officers showed a plurality of banks tightening credit standards across the board. Add in anecdotal evidence - like Bank of America declining to increase lending to McDonald's franchisees even though the two companies have a long-standing partnership - and things do seem to be cascading down to Main Street, or whatever road is home to your local fast food joint. In August, 67% of small-business owners said they'd been affected by the credit crunch, compared with 55% in February, according to surveys...
...reaction was not as bad as I had feared," says Dariusz Kowalcyzk, chief investment strategist of CFC Seymour, a boutique investment bank in Hong Kong. In London, David Buik, a partner with BGC Partners, sees it similarly: "After the horrendous response we saw on Wall Street and elsewhere, I think coming in around even in Europe represents a wonderful...