Word: bankes
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Former AIG chief executive Maurice (Hank) Greenberg told Congress on Thursday morning that as much as $50 billion in payments that AIG has made in the past few months to banks and other financial firms, including Goldman Sachs and Deutsche Bank, should not have been made. Greenberg believes the banks should be forced to reinvest some of those trading profits in AIG by buying the company's shares...
...lose their jobs. Numbers vary widely from country to country, but in Spain, for example, around one in three workers are in temporary employment. Unemployment there has soared to more than 14%, up from 9% in the beginning of last year. Migrant workers are also especially vulnerable. The World Bank estimates that, after years of heady growth, remittances sent by international migrants back to their home countries in the developing world will drop this year by between...
Economics for the Real World Obama has pledged that his bank-regulation overhaul would be based "not on abstract models ... but on actual data on how actual people make financial decisions." That's a plain-English way of saying it will be guided by behavioral economics, not neoclassical economics...
...join us," recalls Ralph Cavanagh of the Natural Resources Defense Council. This is why community report cards help promote preventive health care and why interdorm conservation competitions help colleges save energy. And this is why Administration officials - after their crash course in run-on-the-bank mentalities cited in Animal Spirits - are trying to boost consumer confidence into a social norm...
...stake your claim. At 41, he did not expect to be driving around Cape Coral in an old church bus that he bought off Craigslist, painted dollar green and emblazoned with the motto "ForeclosureToursRUs.com." But most people had no idea how to buy a house from a bank, and many were too scared to try, so he decided to lead tours of the new economic frontier. He is a revivalist for this apocalyptic age, living an American story as old as the pilgrims and the 49ers and every pioneer who ever saw opportunity where everyone else saw only ruin...