Word: bankses
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Ben Bernanke said that the large banks that need to raise money will be able to do so in the private capital markets. If he is wrong, Bank of America will be back to ask for more loans from the government, which might cost the firm its independence.
Bernanke has proven himself to be a particularly talented public servant. He saw the credit crisis coming and adjusted the central bank's policies at a rate which was abnormally fast based on Fed history. He offered hundreds of millions of dollars of liquidity to banks that probably would have...
Yes. This crisis was substantially caused by a failure to manage real estate risk. Notably, we got individual homeowners into a leveraged position typically with their entire life savings in real estate in one city, in one house. That's very risky. I have one proposal for continuous workout mortgages...
Then there's all that bad debt. We've now mostly worked through the subprime mortgage mess that started this whole debacle, but lots more losses - from prime mortgages, credit cards, commercial real estate, you name it - are still to come. Morgan Stanley economist Richard Berner estimated on Tuesday that...
Given that national angst, it's less surprising that conservative tycoon Ricardo Martinelli upset Panama's powerful ruling party on Sunday to win the presidency in a landslide. Martinelli, 57, is a U.S.-educated free-marketeer, a millionaire whose business empire includes supermarkets, banks and agricultural firms. Just as important...