Word: bankes
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...necessarily equal one job free for an American. "For every job that comes into an economy or leaves, there is a part of another job that comes or leaves with it," he says. In other words, if Salvador and his father-in-law leave, it isn't just the bank that would see its revenues go down. So would the Safeway down the street from their house and the Ace store where they buy spark plugs for their car and hardware for their home. These may be slight hits, but businesses are working on rail-thin margins, and even small...
...taxi on the way to the Park Hyatt hotel in Washington, where he was making a presentation to a bank-industry group, Zandi turned to the driver. "How's business?" he asked...
...interviews, which boosts business for Economy.com On a recent Thursday in Washington, Zandi spent the first part of the morning presenting his outlook for the U.S. economy to a crowd of Moody's clients. Standing at a lectern under fluorescent lights, blinking behind his oval spectacles, he said the bank-bailout plan introduced by Treasury Secretary Timothy Geithner to encourage private investors to buy banks' toxic mortgage assets is a "reasonably good idea" that he thought would work. (Zandi says he would have preferred that the government buy the toxic debt so taxpayers could realize all the upside once...
...woman named Paula, an extremely earnest reporter from the Finnish Broadcasting Company (the "BBC of Finland," as she put it), who was dressed all in black, with a tight blond ponytail. The lights dimmed, a camera was pointed at them, and Paula started firing off questions about bank nationalizations and Barack Obama's budget. "In a perfect world, what would you do to save the economy of this nation?" she asked...
...Hungary has seen the worst: The stark depreciation of the florint in international markets means that over half of the mortgages in the country (denominated in euros, just like everything aimed to tourists in Budapest) have become unpayable. Macroeconomically, the state has faced a similar constraint: Therefore, the World Bank, the EU, and—most notably—the IMF have agreed to provide funding to avoid disaster. On Thursday, it was announced the country would receive over $25 billion of international bailout funds to last through the year. As David Hechlam, a director of the rating agency Fitch...