Word: banking
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Bear Stearns, the storied investment bank that stunned Wall Street when it collapsed last month, is rescinding approximately half of its 2008 summer internship and job offers in response to its recent takeover by J.P. Morgan Chase. The rescinded offers mostly come from positions that have overlap with J.P. Morgan’s operations, such as the investment banking division. “In those divisions,” such as commodity and prime brokerage, “where there’s little or no overlap with J.P. Morgan, the offers will likely be honored...
Agreed to remove 50 in the West Bank, but 530 remain...
Financial regulation is usually born of financial disaster. The Panic of 1907--during which several big New York City banks actually did fail--led to the creation of the Federal Reserve. The Great Depression, unleashed by a market crash and countless bank runs, gave us the Securities and Exchange Commission, the Federal Deposit Insurance Corporation, and the Glass-Steagall Act separating banks from Wall Street. Now we're up to our elbows in another mess, albeit one that has yet to acquire a name for the ages. (Credit crunch? Subprime meltdown? Give me a break!) And so, as foreclosure follows...
...votes ahead of the April 22 primary, the question of how they will create new jobs, or bring back old ones, comes up at nearly every event. On the surface the two candidates appear to be offering very different remedies, but their actual plans are virtually identical: both candidates bank on adding millions of new jobs with the help of emerging green and renewable industries coupled with large investments in infrastructure. It's in the 10-second sound bites where the messages diverge - and what people remember...
...Clinton announced this week a $78.5 billion plan to shore up the nation's infrastructure, including a $10 billion emergency fund for high-risk bridges and other structures and a $60 billion National Infrastructure Bank that would finance large projects - all of which, she claims, would create three million jobs. Similarly, in the wake of the Minneapolis bridge collapse last summer, Obama announced a plan to spend $60 billion on fixing bridges, dams and highways, a move that he says would create two million jobs...