Word: bankses
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Treasury Secretary Hank Paulson likes to talk about how soured mortgage-related securities are "clogging up" our financial system. It's not always easy to see what he means. Banks' refusing to lend to one another and companies' not being able to fund themselves through issues of commercial paper are...
To be sure, all lending hasn't been wiped off the face of the planet. Community banks, credit unions and firms that lend money against receivables are in many cases booming. Sterling National Bank, a regional player in the Northeast, has taken out newspaper advertisements asking "What Credit Crunch?" and...
But it's not just banks - or the commercial-paper market, for that matter - that are the obstacle. Talk to Mike Mitternight, president of Factory Service Agency, which installs commercial air-conditioning systems in suburban New Orleans, and you'll find out that one of his biggest problems is other...
You see, in the intervening year that brought a brutal nomination fight, abundant scandal, and total financial collapse, I’m afraid I lost my sense of humor. The notorious Paris Hilton ad is less witty when we start worrying if it was supposed to tap into racism. McCain?...
So you think we should just let the banks fail? You don't think it was under-regulated, free-market capitalism that got us here? In a free market, these weak banks wouldn't be around. Pushing home ownership and low interest rates irrespective of risk is what got us...