Word: bankses
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“Obviously, the financial system undertook excessive risk,” he said. “The banks didn’t do what they were supposed to do, which was to allocate capital, manage risk, run a payments mechanism, and do it all at low transaction costs...
As if President Barack Obama didn't have his hands full at home with his party's loss of Ted Kennedy's seat in Massachusetts, the collapse of health care reform and a disorganized war against the banks, he now faces a major foreign policy setback. Since the 2008 presidential...
If a partnership between Belarus and Kazakhstan, two of Russia's most loyal allies, does come to pass, it could further weaken Russia's influence in the region. But considering the dependence of both countries on trade with Russia, this still seems like a distant prospect, and some analysts say...
Really, though, this shift is more about politics than substantive differences in policy. Geithner strongly supports a stand-alone consumer agency, and he devised the plan to impose taxes on liabilities of the biggest banks, not only to recoup the bailout money but to discourage excessive risk-taking and excessive...
That clearly hasn't happened yet; Brown opposed Obama's proposed taxes on big banks as un-American taxes on success, and Republicans on the Hill remain confident that the larger issue is far too complex for Democrats to turn into a referendum on Wall Street. But Obama is obviously...