Word: bankes
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...soul of the enterprise really does lie in spare change. Ordinary Chinese donate by patronizing one of many businesses that Li has signed up - by dining at the South Beauty restaurant chain, for example (one renminbi off the bill goes to the foundation), or by using their China Merchants Bank credit cards. They can also donate at post offices, through PayPal or via SMS. By these means, the foundation had raised, as of July this year, $13.7 million, the great bulk of which has gone to Sichuan earthquake relief...
...likelihood that tens of millions of dollars will disappear into China's bridges to nowhere - or into the pockets of corrupt local officials. Still, if any government can drive change by diktat, it's the Chinese Communist Party. Doomsayer Roubini writes: "The government cannot force corporations to spend or banks to lend." In fact, Beijing can do exactly that - and is doing so now. "On the outside, China's banks do look a lot more like normal Western commercial banks," says an investment-bank analyst with a decade of experience in China. "But every single senior officer right down...
...exploited by Wall Street, to be sure, and unchecked by either party. A Republican House helped pass the Sarbanes-Oxley Act, the most sweeping regulatory bill since the time of Franklin D. Roosevelt. If liberals rule unconstrained, we won't recognize our country in 30 years. Lori Zimmerman, RED BANK...
...least it should. Balanced funds that hold bonds and cash along with stocks are down just 29%, according to mutual-fund tracker Morningstar. And many retirees looking to minimize risk wisely hold a smaller percentage of stocks than the average balanced fund (and also may own insured bank CDs). Which means a more typical experience for them is a 20% loss, says Gregg Fisher, president of Gerstein Fisher, a financial adviser in New York City. That's not fun, but it's nowhere near as bad as the headlines...
...Romer’s former colleague and friend at Berkeley—who added that not hiring Romer was “a big mistake” on Harvard’s part. Romer will join the ranks of Obama’s recently appointed economic advisors: Federal Bank of New York president Timothy F. Geithner will serve as treasury secretary; former University President and former Treasury secretary Lawrence H. Summers will serve as NEC chief; and Congressional Budget Office director Peter R. Orszag will direct the Office of Manamgent and Budget. All three have close ties to former Treasury...