Word: bankses
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But even if banks were to open the taps, there are growing questions about whether that could buck other worrying trends. On Wednesday, Britain announced its unemployment rate had jumped half a point to 5.7% - its highest in eight years. Last month the government acknowledged that France lost 40,000...
The question such a specter poses to both banks and governments is vexing: doesn't extending new loans to companies and individuals whose income might significant suffer during economic shrinkage risk creating the same sort of toxic debt that provoked the on-going global crisis in the first place?
"Of course it is - it's like giving an alcoholic more booze," says Gabriel Stein, director of Lombard Street Research in London, noting that while the degree of debt varies by nation, it's become a troubling factor for households and companies throughout the developed world. "Banks are being told...
What really surprises me: why did nobody ask the simple question, "What will happen if a large number of these subprime loans default? What will happen to banks and other financial institutions? Or was it only greed that made everybody ignore that what is happening now could ever happen. Did...
In Europe, where America the Beautiful has lost some of its luster of late, De Feo's enthusiasm is increasingly rare. According to the 2008 Pew Global Attitudes Project survey, the number of Brits who view the U.S. favorably has dropped from 83% in 2000 to 53% today; in France...