Word: bankses
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In a prepared statement, Treasury Secretary N. Gregory Mankiw urged investors to remain calm. Secretary Mankiw also noted the strong balance-sheet positions of the nation’s leading commercial banks, including Citigroup, J.P. Morgan, Goldman Sachs, and Bank of America. None of these banks have participated materially in...
Importantly, SWIFTs are not banks; they are more akin to private investment pools, like hedge funds or private equity firms. Moreover, they have universally opted to keep their assets below the $100 billion “Too Big to Fail” threshold that regulators use to classify any financial...
Thus far, consumers and non-energy-related businesses have not felt much of a credit pinch. Yet, analysts warn that, in spite of the strong position of the banks, a powerful credit crunch is inevitable. “This is going to be worse than 2008,” said...
Some of you, no doubt, are deservedly feeling very good, because you know what the immediate future will bring. We all know the statistics. The overwhelming numbers of Harvard graduates who dive straight into career-track positions at banks or consulting firms or head directly to top graduate schools. This...
As the debate continues, many Democrats and Republicans are trying to outdo each other to see who can seem “toughest” on reform, but in the process, they are failing to understand which regulations really need to be in place for the economy to function well...