Word: bankes
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...would have been interesting to ask each man what he thought about the value of the toxic assets on bank balance sheets. Unlike land, toxic assets can multiply. And, unlike land, the value of toxic assets may never rebound, although analysts differ on that subject. (See pictures of Mark Twain...
...economists like the idea of the government buying up banks and running them. Congress seems to have little taste for it as well. That's why the government came up with the preferred-share plan in the first place. The fear is that the government would do a worse job of running the banks than the current executives. What's more, once the government owns a bank, it has to pay for everything, from keeping the lights on to severance. And that could get very costly...
...number does not account for the huge reductions in dividends at most big banks which occurred at the end of last year. Citigroup (C), Wells Fargo (WFC), Bank of America (BAC), and JP Morgan (JPM) have already made cuts or are candidates to do so. Firms in media from The New York Times (NYT) to newspaper chain McClatchy (MNI) are low on income and high on debt. Any company with dwindling cash will be on the list of firms which are likely to need dividend reductions to preserve their balance sheets...
Federal agents executed search warrants at three Agape offices and froze both company and personal bank accounts, seizing $1.5 million. Cosmo's initial appearance in court is scheduled for late Tuesday in front of U.S. Magistrate Judge E. Thomas Boyle at the U.S. courthouse in Central Islip...
January is a big month for winter sports and post-Christmas sales. It's also - as people who treat substance abuse know - a big month for drinkers who want to quit. The holidays are over and bank accounts are thin, but addicts can't stop partying. Many choose January to ask, at long last, for help. But what sort of help is the most useful? (See "The Year in Medicine 2008: From...