Word: banking
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...mortgage losses continued to mount and the credit-crisis snowball rolled on, private equity, with some SWF support, took on the role of recapitalizing regional banks. Yet there's still no end to the crisis in sight. On July 11, U.S. regulators shut down IndyMac Bank, the second-largest largest financial institution to close in U.S. history. If current estimates are right and more losses are coming - Goldman Sachs says U.S. and European banks may need another $200 billion - where's the money going to come from to keep the financial system functioning...
...asking to see records of all accounts - the first time such a broad legal tactic has been used on an international bank. That puts UBS in another bind, because Swiss banking laws, in most cases, require that secrecy be preserved...
...campaign has thus far provided only the barest outline of his itinerary. On Monday, Obama will be in Amman, Jordan; on Tuesday and Wednesday, Israel and the Palestinian territory of the West Bank. Thursday, Friday and Saturday will be a sprint across Europe, with stops planned for Berlin, Paris and London. And somewhere in all this, Obama plans to make a much-anticipated visit to Iraq and Afghanistan with two Senate colleagues, Democrat Jack Reed of Rhode Island and Republican Chuck Hagel of Nebraska...
...York Times has reported, he will meet with President Shimon Peres, Prime Minister Ehud Olmert, Defense Minister Ehud Barak, Foreign Minister Tzipi Livni and the head of the opposition, Likud Party leader Benjamin Netanyahu. He is also expected to see Palestinian Authority President Mahmoud Abbas in the West Bank city of Ramallah...
...Couse, chairman and CEO of the First Bank of Clewiston, owns 500 acres of land on which he grows cane sold to U.S. Sugar. Not only is the fate of private growers like him now in limbo, but so are other plans: This week, a meeting was held to decide the fate of a planned $14 million expansion, including a new emergency room, planned for the town's 55-year-old hospital. But the local stakeholders decided to move ahead...