Word: bankses
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The beleaguered U.S. dollar isn't getting much love these days, except from one small but powerful group: deep-pocketed institutional traders, who are piling into dollars with ever greater enthusiasm because it is so weak and cheap to borrow. "Dollar borrowing picked up steam after the G-20 summit...
The dollar didn't always enjoy the dubious honor of being the global currency a trader could most cheaply borrow. For much of the last decade Japan has been the world's largest moribund economy, with an economy so weak the Bank of Japan never dared to lift interest rates...
The bad news is that to ameliorate the worst side effects of the carry trade, which if unchecked could make Asian exports too expensive to buy, Asian central banks have intervened in foreign exchange markets and done something they are loath to do: Actually increase the dollars in their foreign...
On Tuesday, the cash-depleted FDIC hatched a plan to require banks to prepay three years of quarterly fees. The FDIC expects to quickly generate $45 billion in cash, an amount it normally would've had to wait years to get its hands on. But in a quirk of accounting...
The practice has had some successes: President Dwight D. Eisenhower defused a row over the Suez Canal with economic sanctions against Britain; Swiss banks were forced to pay reparations to Holocaust survivors when faced with a boycott, led by some U.S. states, for harboring pilfered assets; and stiff sanctions helped...