Word: bankses
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Tim Geithner, the Secretary of the Treasury, spent some of the early parts of his career being attacked by Congress. Legislators were not happy that he could not come up with details about the Administration's stimulus program and plans to buy bad assets from banks by recruiting shrewd investors...
Citigroup (C), Goldman Sachs (GS), and Wells Fargo (WFC) had better-than-expected earnings. The banking sector was supposed to spend the balance of this decade feeling around in the dark and finding nothing but more bad assets and little revenue from what had been an investment banking goldmine fueled...
Wall St.'s belief about the banks swung 180 degrees in less than a week. The rapid shift of heart took some financial shares down by more than 20% in the first trading day of the week.
The answer may be pulled from the three figures about the economy which have the most bearing on how whether recession is beginning to reverse or not. The first is access to credit. To the horror of members of Congress and the governors of the Fed, The Wall Street Journal...
Soon afterward, the first alarms began to sound. Jerald Ogrisseg, an Air Force SERE psychologist, warned JPRA chief of staff Daniel Baumgartner that waterboarding detainees was illegal. In October 2002, Lieut. Colonel Morgan Banks, an Army SERE psychologist, warned officials at Gitmo of the risks of using SERE techniques for...