Word: bankses
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A June 4 report from Fitch Ratings provides another glimmer of stability. The company's measure of credit-card late payments fell in May, after four straight months of record highs. The rate, though, was still 40% higher than a year before, and credit-card charge-offs which happen when...
Also, despite the messes in the mortgage market and elsewhere, many remain optimistic that the financial industry in the U.S., unlike, say, auto-manufacturing, will rebound. As troubled large banks have shed employees, a number of smaller firms and international competitors have moved in to snap up workers. And Keith...
Why not? When the legacy loan and securities programs seemed unworkable in February, the market collapsed. But both Treasury officials and the market now believe that the banks aren't in as bad of shape as everyone thought back then. The fact that they can raise so much money from...
Which is fine as long as the banks are actually as healthy as everyone now seems to think they are. But if they aren't, the toxic assets will once again become a dangerous threat to confidence. And the government will be back to trying to figure out how to...
There's an old piece of wisdom inside the Beltway, one that carries a lot more truth than most: the FBI catches bank robbers, and the CIA robs banks. I suppose you have to swim in this sea to really understand what this means.