Word: bankes
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...What was not considered at any length in the Treasury presentation is how fast the money can be moved onto bank balance sheets and into facilities that can free up consumer and business spending. The phase used is always "immediately", but that may be a long time depending on the flexibility of the bureaucracy that has to handle the funds...
...replacement for Thomsen was named, but experts agree that Schapiro needs a tough-as-nails enforcer to help remake the agency's image. The top mention to fill the spot is Robert Khuzami, a former federal prosecutor. He is currently a managing director and general counsel at Deutsche Bank. Khuzami spent 11 years at the U.S. Attorney's office in Manhattan, where he headed the white-collar crime unit, before taking a job at Deutsche Bank in 2002. The SEC declined to comment on a possible replacement for Thomsen; Khuzami's office did not comment either...
...Yields are also bound to go lower because demand for U.S. government debt will easily match supply, even though Washington must sell hundreds of billions of dollars in bonds in coming months to fund stimulus measures and bank rescues. Consider the uncanny parallel between the composition of assets on bank balance sheets in 1929 and balance sheets at the start of this crisis. The ratio of loans to investments, which include Treasuries and other securities, was 2.6:1 in 1929 and 2.8:1 in 2008. During the early period of the Great Depression, banks restructured their balance sheets to reflect...
...course, there are major differences between today's banking and monetary systems and those of the 1930s, but the one constant is human behavior. Personal balance sheets, corporate balance sheets and bank balance sheets will inexorably move into safer instruments given the wealth destruction that has occurred in riskier assets over the past year (and which will continue for the foreseeable future). If the banking sector alone were to move toward its more conservative 1935 ratios, then the increased demand for government paper from that source alone would be $700 billion...
...Senate bill was approved along party lines, with all 37 opposition votes coming from Republicans. Economics and public policy professor Kenneth S. Rogoff said that compared to the trillions of dollars being spent on the overall economic stimulus—the Treasury also announced a new $2 trillion bank bailout yesterday—the funding for science was “small change.” But he added that he believes federal spending for science is invaluable and that biotech has been “one of our big engines of growth for the last 25 years...