Word: bankes
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...version that just opened on Broadway - directed, as it was in London, by Stephen Daldry - has lost a little of the power it displayed on its home turf. But if Prime Minister Gordon Brown's bank-rescue plan can become the model for the rest of the world's finance ministers, there's no reason why Billy Elliot - the best musical to come out of Britain since Miss Saigon - can't bridge the cultural chasm...
...nearly out from under the subprime mortgage meltdown and already analysts are speculating about the next industry crisis, related to the little plastic cards in your wallet. With American Express becoming a bank-holding company this week in order to get low-cost funds and share in the $700 billion bailout pool, it's clear that even traditionally resilient industries like credit cards are feeling pressured. "Credit cards are in line to fall," says Adam Levitin, associate law professor at Georgetown University. "The question is whether they will beat out the auto industry - they're racing for the honors...
...contention that France, Europe, or even the global economy isn't already in a recession that's likely to get worse, is a joke," says David Naudé, chief economist for the euro zone at Deutsche Bank in Paris. "The unexpected mini-advance in France notwithstanding, the news is bad, and all forecasts indicate the fourth quarter will be even worse...
...control. F.D.R. did - juicing the economy with unprecedented amounts of government cash, creating new protections for the unemployed and the elderly, and imposing rules for how industry was to behave. Conservatives wailed that economic freedom was under assault, but most ordinary Americans thanked God that Washington was securing their bank deposits, helping labor unions boost their wages, giving them a pension when they retired and pumping money into the economy to make sure it never fell into depression again. They didn't feel unfree; they felt secure. For three and a half decades, from the mid-1930s through...
...President of France but also as the current holder of the E.U.'s rotating presidency, a "vague mandate" for Washington that reflected "the divergent opinions on the way things should be handled." Luxembourg Prime Minister Jean-Claude Juncker, presumably piqued at the idea of his nation's tradition of bank secrecy being threatened by international finance regulation, pointedly noted that "those demanding far-reaching coordination of economic policies apply such rules themselves" - a jab at Sarkozy's own French budgets violating E.U. rules that limit deficits to 3% of GNP. (See pictures of France celebrating Bastille...