Word: bankses
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According to The New York Times, "The deal would not only create a pharmaceutical behemoth but would be a rarity in the current financial tumult: a big acquisition that is not a desperate merger of two banks orchestrated by the government."
The next wave of M&A, which will almost certainly begin within the month, is one designed at helping troubled companies survive by pressing cost cuts through consolidation of common functions. It is an ugly set of motivations but compelling enough to insure that investment banks can call some of...
Iceland is getting used to this. Over the past six months its currency has collapsed, its largest banks have all failed and been nationalized, and its economy has imploded. Today the tiny (pop: 320,000) nation became the first to lose its government to the global financial crisis. Addressing the...
A year ago, few would have predicted such a rapid fall from grace for the affluent North Atlantic nation. Iceland topped the most recent U.N. Human Development Index and boasted one of the highest GDP's per capita in the world. But its banks, carrying massive debt loads, became early...
The result was an environment in which official Washington seemed to believe that no home loan could be a bad home loan. "What we did and what we started was not just to push banks to make marginal loans, but to give them an excuse and to give them regulatory...