Word: bankes
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...March 23, Treasury Secretary Timothy Geithner unveiled the Obama Administration's toxic-bank-assets plan. The stock markets cheered the news, sending the Dow up 497 points...
...going to make financial aid readily available to individuals of good character with strong references so that they can make their mortgage payments. To paint the picture even rosier, the Fed will buy up paper in the open market and that paper will bear a close enough relationship to bank rates for real estate lending that it will push mortgage costs down. (See "Four Steps to Ending the Foreclosure Crisis...
SOURCE: WORLD BANK...
...Beijing Replacing the Dollar? In a sign of growing concern over the U.S. economy, the head of China's central bank proposed implementing a new currency-reserve system that could ease the country's reliance on the dollar. Experts say the move underlines China's desire to take a leadership role in the global response to the financial crisis. Still, few analysts expect the dollar to be replaced by what Zhou Xiaochuan called a new "supersovereign reserve currency" in the foreseeable future. China, which holds nearly $2 trillion in foreign-exchange reserves, is the U.S.'s largest creditor...
...recent survey by the Suan Dusit polling agency shows that nearly 70% of Thais want Thaksin to stop inciting unrest and allow the government to work at solving the economic crisis. With the Thai economy set for a potential contraction of up to 4% this year, the Asian Development Bank said earlier this week that political infighting could hamper the effectiveness of the government's $44 billion economic stimulus program. The fate of that program, and the government itself, may rest on events surrounding the protests. And once again, most Thais can do little but watch, and wait...