Word: banking
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...hopes of encouraging their returns. Beyond his desire to be with his family, Posavec said his Harvard degree is in higher demand back home than in the United States. “Back home with a Harvard degree you can pretty much get a job anywhere in any bank,” Posavec said...
...sinkholes like Citigroup and AIG that have been deemed too big to fail, and Geithner may have a hard time persuading it to pony up hundreds of billions of dollars more if necessary, as he said on Tuesday it might be. When the Administration rolls out its more detailed bank-bailout plans in the next few weeks, Geithner will have another chance to salvage his reputation as a salesman. But the truth is, if the plans fail on their own, it won't be Geithner's tone of voice or his demeanor that brought him down, no matter what...
...more attractive - or at least less ugly - to investors. The S&P 500 has a price/earnings ratio based on trailing 12-month earnings of about 15. That compares with a 10-year average P/E of 21. So the market's current valuation looks cheap. But some financial stocks like Bank of America and Wells Fargo have P/Es of 7 and 5, respectively. Take those out, and the market looks more expensive...
...President Barack Obama doing? I have to give [the Obama Administration] credit. In about six weeks, they have done three major things: the $800 billion stimulus package, a mortgage program that is much more than the previous Administration did and a bank plan that, however flawed, at least has the benefit of not having another bailout of the banks. The glass is half full. But for each one, there are some flaws ... the bank plan wants to pretend that the government is half pregnant with the banks. The debate is between partial and full nationalization, not between nationalization...
...state's insurance commissioner, but at HHS she will oversee a massive organization with 10 operating divisions. Orszag must focus on the entire government budget. The head of the National Economic Council, Larry Summers, who has taken a particular interest in health care, has a portfolio that ranges from bank bailouts to global financial regulation. The other legislative, political and managerial staff at the White House spend their days stretched over dozens of subject areas. In this chaotic situation, DeParle will be charged with never letting health care get off track. (Read "Who Will Push Health-Care Reform in Place...