Word: bankses
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What Citi's history illustrates is that these are not new dilemmas and that they've never been perfectly resolved. Banks and financial systems are inherently fragile, beset by a natural tendency to careen from fear to greed and back. We're deep in the fear part of the cycle...
In the 1800s, it stood by while banks failed. That's not a real option today. The modern world simply isn't prepared to survive a financial shutdown. But handing banks cash and hoping things will work out is no solution either. What's needed is a new beginning: new...
$147 BILLION New funds for British banks to promote lending
It will be domestic, not foreign, policy that will occupy the President's attention for the next few months. The first order of business will be to shepherd the $825 billion stimulus package through Congress and ride herd on the additional $350 billion available to stabilize the banks. But the...
It was revealed last week that Geithner had failed to pay nearly $40,000 in taxes since 2001. When he appears before the Senate Finance Committee today for his confirmation hearings, he will be interrogated about his plans to deal with the flailing economy, failing banks and rising foreclosures. But...