Word: bankses
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Nor are usually resilient retail sectors like luxury goods expected to be unscathed. The collapse of major banks and Wall Street firms means thousands of wealthy consumers are faced with vanishing annual bonuses at best and job losses at worst. "Even in a down economy like last year, the luxury...
What Americans are fast learning is what the market pros knew all along - the bailout bill may turn out to be a pill that dulls the pain, only to leave deeper global economic wounds festering. "We're in the midst of a panic," says James Angel, professor of finance at...
The gap between Saturday's rhetoric and Monday's reckoning was amply visible in advance. For all the brave-sounding statements about a common response at French President Nicolas Sarkozy's conclave on Saturday, he and Merkel, along with Prime Ministers Gordon Brown of Britain and Silvio Berlusconi of Italy...
As the prognosis seemed to worsen for Europe's banks, governments rushed to calm the public by promising new guarantees for their savings. On Sunday, Germany said it would back up all private savings deposits and many other savings schemes - a move that could cover some $785 billion but for...
However, bearish traders should consider the alternatives. Despite budget-deficit restrictions and other rules applied to government members of the euro zone - and their often petulant submission to the European Central Bank 's currency and monetary policies - there is precious little to build on toward a harmonization of the E.U...