Word: bankses
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Hong Kong, the financial and managerial nerve center of the Chinese region often called the world's factory, is a wealthy city. But even here, the global credit squeeze is making it tougher for businesses to borrow money to cover their short-term needs. "Right now, we're facing trouble...
Less obvious is the support the dollar is getting from an unlikely quarter: global hedge funds and other nonbank financial entities. This shadow banking system has borrowed trillions of dollars to leverage its investments. But the crisis has triggered massive early loan repayments, and because these loans must be repaid...
All this helps to explain why the dollar has been stronger lately. But with the U.S. Federal Reserve cutting interest rates again and the U.S. Mint running its printing presses overtime to fund rescue packages, won't the dollar tank soon? Probably not. As the Treasury Department's $700 billion...
In a tacit admission of the state capitalists' success, Western leaders are copying their tactics. After blasting Moscow for forcing its petroleum industry into state hands, Western European states are rushing to nationalize their biggest banks. After America criticized China for using state loans to support its leading companies, the...
Forget about rescuing banks or unfreezing credit markets. The question on most minds amid the recent market chaos: What does this mean for my 401(k)? With some $3 trillion invested, these plans are the most popular retirement-savings vehicle in the U.S.--and account for a big chunk of...