Word: bankses
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But with unemployment soaring toward 25-year highs, housing prices plunging and the nation's biggest banks facing insolvency, it is difficult not to wonder, Is Summers - is anyone, really - up to this herculean set of tasks at this impossible moment? And if the responsibility must fall largely on the...
Assuming the stimulus measure is passed - in private, even top GOP aides believe it will happen by mid-February - Summers says Obama will push next to stabilize the banks and the housing market. The Administration is weighing approaches that range from buying up banks' bad assets or guaranteeing the solvency...
As Clinton's last Treasury Secretary, Summers championed regulatory reforms that relaxed New Deal-era restrictions on banks - a shift that some economists have blamed for the current financial crisis and that Obama criticized during the campaign. None of these controversies gave the candidate pause last summer when he invited...
The esoteric edict is one in a string of attempts by some religious groups and parties in Indonesia to influence morality in the country - efforts that not everyone in the Muslim-majority nation appreciates. The council, which is not an official government body although it receives funding from the Ministry...
The mammoth demonstrations were designed to send a warning of discontentment to the conservative government of President Nicolas Sarkozy. Workers in France are angry about what they see as insufficient government efforts to protect both public and private sector jobs. People are also upset that union and employee concerns over...