Word: bankses
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fruit philanthropist n.--Someone who voluntarily harvests surplus fruit and then donates it to food banks and centers for the elderly USAGE: "Thus was born North Berkeley Harvest, part of a small but expanding movement of backyard urban gleaners--they might be called fruit philanthropists." --New York Times, Sept. 14...
The two prominent investment banks became the latest casualties in the financial sector, following in the footsteps of Bear Stearns, which was sold to J.P. Morgan in March in a deal orchestrated—and partially insured—by the Federal Reserve.
Calling this week’s turmoil on Wall Street “the worst financial crisis since the ’30s” and “the most dramatic event in a lifetime,” Harvard’s often-reserved economic experts did not mince...
Rogoff agreed, and speculated that there may not be any standalone investment banks left by next week.
As to where to assign blame for the ongoing market turmoil, the economists named the usual suspects: reckless mortgage lenders, government mortgage bond insurers Fannie Mae and Freddie Mac, bond rating agencies, the investment bankers who bought securitized home loans, and the government for failing to properly regulate investment banks...