Word: bankses
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The Fed has passed tens of billions of dollars of loans to banks and brokerages through its emergency lending window. It has lowered interest rates to zero. Treasury has put $25 billion into each of the money center banks. It is now backing over $300 billion in bad assets held...
While the moves to step in and save two of the nation's largest banks may keep the national financial and credit systems from collapse, the action also make the federal government the de facto owners of these companies.
Americas big banks are being nationalized whether the banks and the Fed want to put it that way or not.
Japanese businesses and financial institutions, however, are in a good position relative to their foreign counterparts. Japanese companies have ample cash on hand at a time when cash and liquidity matter most. As mergers-and-acquisitions activity increases abroad, the appreciation of the yen (currently 90 to the dollar) can...
A Dynasty of Art. The name Wyeth is familiar to almost every kid who ever had a library card, because it belongs to the most ambitious American art dynasty since the 18th century Philadelphia painter Charles Willson Peale named his children Rembrandt, Rubens, Raphaelle and Titian and brought two of...