Word: bankings
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...would mean swapping huge piles of sterling for dollars. Toss in the relentless pressure from speculators betting on a falling pound, as well as Britain's generally horrible fiscal position, and "sterling has sailed into a perfect storm of negativity," Nick Beecroft, a senior foreign exchange consultant at Saxo Bank, wrote in a research note earlier this week...
Strapped consumers have long prioritized paying their mortgage before their credit cards. Losing your house, after all, was seen as worse than losing the ability to spend more than what was in your bank account. But falling housing prices, loan-modification programs and restricted credit have changed the calculus of what debts get paid first for many Americans. What's more, the recent credit-card reforms might make it more attractive for more consumers to put their credit cards before their home loan...
...long week—perhaps President Obama’s longest since taking office—it was all about the banks. On Jan. 21, a New York Times headline read, “Obama to Propose Limits on Big Banks,” while the Motley Fool, a website dedicated to financial issues, blurted, “Bank Regulation: Sometimes Populism is Justified.” But shortly thereafter, with all of the buzz surrounding Obama’s State of the Union address and the renewed concern about unemployment levels, the banks fell off the agenda and haven?...
...participant in the Washington culture that the Tea Partiers despised, and the rest of Americans took his dramatic proclamations with the grain of salt most populism deserves. In other words, his plans and his populist rhetoric appealed to no one, least of all the Senate now blocking the proposed bank legislation...
...real reform” represented his descent into the populist trap; rather than articulating a clear ideology or outlining what “real reform” looks like, he simply promised to reject proposals offered by others. Obama’s plan to limit commercial bank activity represented an even more extensive use of populist rhetoric, and its populist nature is now revealed by the fact that it has barely been mentioned in the weeks since the subject was first broached. In the desperate moments following the Massachusetts Senate race, Obama sought an “elite?...