Word: bankes
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...advocates for nationalizing U.S. banks have been out in force recently. Senator Lindsay Graham, who almost certainly does not have a PhD in economics or finance told ABC News that banks were in such deep trouble that government ownership of the institutions may be the only way to save the financial system. Economist Nouriel Roubini, who probably has several advanced degrees, wrote in The Washington Post that the Swedes set a precedent for bank nationalization nearly 20 years ago. The first counter to his argument is that it is dark over 20 hours a day in Sweden during the winter...
...Bank ownership becomes more complex when a firm owned by the government does something materially different from what its competitors in the private sector do. If bank owned by the government offers business loans at 3% interest, what does a foreign-based public bank like DeutscheBank do to match that? A government-owned bank can be driven, at least short-term, by policy and not profits. That puts financial firms in the private sector in peril whenever they try to compete. The relationship between a national U.S. bank and private banks both inside and outside the U.S. causes a series...
...only banks that could legitimately lose on this are those that hold nothing but good mortgages or tranches of good mortgages, with no bad assets. Since the Troubled Asset Relief Program has attracted such interest from virtually every bank, we can conclude that such good-mortgage banks exist only in small numbers...
Madoff, Bernard • $15,000,000 was suspiciously withdrawn from bank account of by wife of • 90-year-old is forced to go back to work as a result of having been totally ripped...
...Pakistan's investigation found that the Mumbai gunmen had departed the Pakistani port city of Karachi aboard three inflatable boats. With the help of telephone and bank-transfer records, investigators were able to trace a recovered engine from one of the vessels to a shop in Karachi belonging to Hammad Amin Sadiq. The shopkeeper - ambiguously described by Malik as "the main operator" - was arrested. From his interrogation, the authorities were able to apprehend three other suspects at two hideouts, one in Karachi, the other two hours away...