Word: bankes
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Move over, commercial lending and home foreclosures. The falling number of bank loans is emerging as the No. 1 economic concern of 2010. But while many expect the credit crunch to continue, falling bank loans might not be as bad a problem as many people think...
...Germany is a high-tech country and it's incredible this software bug could have happened here," Manfred Westphal, head of the financial-services department of the German Consumers' Association, tells TIME. "It's a lousy mistake - obviously the banks didn't test the software properly beforehand." Consumer groups say the banks have only given out piecemeal information to customers who are confused about which cards they can use in cash machines. German Consumer Minister Ilse Aigner has also criticized the banks' handling of the situation and said that consumers shouldn't be held liable for any bank charges they...
...Bank officials, however, are deflecting the blame, saying that the chipmaker Gemalto is the one responsible for the glitch. The company, which is a major supplier to German banks, said in a statement on its website that it is working with the banks to find a solution that would avoid replacing all the cards, which could cost up to $430 million. "We are fully focused on minimizing the inconvenience for the cardholders," said Olivier Piou, the head of Gemalto. "We will of course meet our contractual obligations, and continue to support our clients...
...also making life difficult for new recruits like Griffith, who after switching parties now faces a tough primary. And the GOP is plagued by cash woes. After spending heavily in the Virginia and New Jersey gubernatorial races last November, the Republican National Committee has $8.7 million left in the bank - the worst balance in a decade - compared with the Democratic National Committee's $13 million. The National Republican Campaign Committee, which works to elect Republicans to the House, was in even worse shape, with just $4.3 million on hand at the end of November and more than $2 million...
...whose young leaves contain a compound with effects similar to those of amphetamines. (The crop accounts for roughly a third of the country's water usage.) Moreover, Yemen's production of oil - which constitutes 90% of its exports - is limited and could end by 2017, according to the World Bank...