Word: banking
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...would create local business pods in which neighbors ask, What do we do well here, and how can we do it better? Some of the world's most skilled machinists live in the American Midwest. But their skills are geared to a dying auto industry, and with no bank credit for start-ups and no way to organize, they have no chance to transform themselves into a workforce for globally competitive precision-manufacturing firms...
...Warren asked whether the government has plans to rerun the stress tests. With unemployment already at the level the government called "worst case" just a few months ago, Warren said she thought it time to look at bank strength again, assuming even higher levels of unemployment. Geithner replied that the Stress Tests were stringent enough...
...more unusual exchanges, Hensarling wanted to know if Geithner thought the auto companies were banks. Geithner said under the definitions of TARP, he would call auto manufactures banks. "So would you call AT&T and American Airlines banks?" Hensarling asked. Geithner said no, and then clarified that at least at this moment he would not call AT&T or American Airlines banks. When asked about AIG, Geithner said the government didn't legally have the option to pay less than 100 cents on the dollar to its counterparties. In the past year, many people have criticized Geithner and former secretary...
...cycles of boom and bust, you imagined that there would be a downturn at some time, but it’s not like people were smoking hundred-dollar bills.”Like the ebb and flow of Vogue’s parent company Conde Nast’s bank accounts, it’s clear that Cutler’s newfound fashion industry fame will eventually wane. Even as he promotes “The September Issue” across the globe—backed by Wintour’s own support—he is already thinking ahead...
...expect responsibility from all our institutions - government, business, non-for-profit sector - then I think that's a pretty good recipe for the continued success of the American experiment. And when people see a lack of responsibility - it's part of the reason why people are furious about the bank bailouts - then they feel betrayed, particularly when they're acting responsibly in their own lives...