Word: bankes
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...again is still severely compromised. It is another clear sign that the balance sheets of large financial firms which have exposure to mortgages or any type of consumer credit are likely to be faced with more losses, even if they are unexpected. That seems possible since all of the bank losses of the last two years were unanticipated, at least according to the managements at the companies. (See pictures of unemployment in Cleveland...
...musing of bank presidents are a bad set of leading economic indicators. So is news that a car company which is already insolvent will not need money today. It will need that money tomorrow, and tomorrow and tomorrow. There is no point in denying that much of what happened and much of what was said as the stock market reclaimed milestone after milestone was better than most of the news over the last three or four months. But, the reaction of the stock market was that the glass had become half full in a matter of a few hours...
...thing, their carbon footprints are bigger. Between their private jets, fleets of cars and large (often multiple) houses, the wealthy tend to suck up more than their fair share of the earth's resources. And that's not even counting the environmental impact of the businesses that built their bank accounts...
...seven weeks is an eyeblink (in baseball it's called spring training), but along the Acela line it is much ... too ... long to wait for Obama to fix the economy. And so the doomsday chorus began: He's trying to do too much. He's doing too little. His bank bailout is too complicated. His health-care plan is hollow. The great orator can't communicate his priorities. His priorities are clear - but screwed...
...although the President defends his broad agenda, he understands how much is riding on the gradual rollout of version 2.0 of his bank plan - not necessarily bigger than the $787 billion package that left the markets cold, but sharper and more plausible. The trouble with the initial draft unveiled unartfully last month by Treasury Secretary Tim Geithner, says Moody's Economy.com chief economist Mark Zandi, was that it was "too clever by half," creating elaborate incentives for private investors when the simple solution would be to have Uncle Sam immediately wade in, grab control, wring out the bad debt...