Word: banks
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...meanwhile, could further add to the cost of boosting Kraft's bid. What's more, "we persist in our belief that neither Nestlé nor Hershey will willingly stand by and be marginalized into distant No. 3 and No. 4 positions in global confectionary," London-based analysts at investment bank Jefferies International wrote in a note to clients on Tuesday. A possible joint Nestlé-Hershey bid to break up Cadbury - with Pennsylvania-based Hershey taking the bulk of its chocolate business and Switzerland's Nestlé swallowing the rest along with Cadbury's gum brands - "would seem to make...
...Netanyahu in the dead of night on Monday, because right now Obama has little to show for his 10-month effort to revive a Middle East peace process. The Israeli leader's refusal to abide by Washington's demand for a complete freeze of settlement construction in the West Bank and East Jerusalem - and the Palestinians' refusal to enter talks without one - has left the Obama Administration's plans in tatters, with Palestinian Authority (PA) President Mahmoud Abbas threatening to resign and pull the plug on the PA and the peace process of which it forms a part...
...Dodd would like to gut bank regulators like the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), the Federal Reserve and the Office of Thrift Supervision (OTS). He would give their power to supervise and regulate banks to a new, single bank regulator with power to set capital requirements and ensure stability. By contrast, the Frank-Geithner-negotiated bill in the House would do away with only the OTS, leaving the FDIC in charge of state-chartered-bank supervision, the OCC in charge of nationally chartered banks and the Fed in charge of complex...
...Dodd proposal would likewise strip the existing regulators of their consumer-watchdog role, putting that authority in a new, separate body, the Consumer Financial Protection Agency (CFPA). In this Dodd, Frank and Geithner agree that a single agency should not be responsible for both ensuring bank stability (read: profitability) and protecting consumers. The CFPA would have rule-making, supervisory and enforcement authority to hunt abuses in lending and fee-setting. The FDIC would continue to exist as an insurer of deposits, while the Fed would continue to control monetary policy and oversee national financial stability...
...Still, they aren't blind to polls that show that voters see all of Washington's work running together: auto and bank bailouts, massive budgets, record deficits, stimulus, climate change and now a $1.1 trillion health care bill. Worse yet, the odds of a jobless economic recovery are looking increasingly likely. But Dems don't feel they have much of a choice, having concluded that doing something is better than supporting the status quo. "It is the third anniversary of Democrats winning the House and Senate for the American people - Nov. 7, 2006," Pelosi told reporters on Saturday morning...