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...doesn't just worry about its counterparty, he adds, but about its "counterparty's counterparty." The European Central Bank, working together with the Federal Reserve and other central banks, has reacted by making hundreds of billions of dollars readily available to financial institutions, but so far that hasn't broken the vicious circle, and interbank lending remains gummed up. "It's like pushing on a string," says Maughan. He points out that banks are hoarding the money they can borrow overnight from central banks rather than using it to lend to others; as a result, "You're not really achieving...
...like that little Down syndrome kid. One of them lives down the street. They’re wonderful children. They’re wonderful people. And I like the idea that this guy does those long-distance races. Stayed in the race for 500 miles with a broken arm. My kind of guy.” This is how voters think about vice-presidential candidate Sarah Palin, at least according to Bill Clinton.And while Clinton praises Palin as an excellent choice because of her pregnant daughter and son with Down syndrome, Barack Obama’s amazing rhetoric and Harvard...
...those historians should not forget that roots of the failure predate the vote on Monday, and even the mistakes of Wall Street. Years ago, the trust between the people and their politicians was broken. Credibility was lost. The reserve of goodwill went bankrupt. And when they needed it most, our nation's leaders found that they had squandered their ability to exert influence over the people who chose them to lead...
...Boehner's resistance had been blamed as the reason that Thursday's high-profile White House meeting had broken up in disarray. And Boehner on Friday wasn't apologizing for his refusal to go along. "If they thought they were rolling me," he said, "they were kidding themselves...
Even as economists, government officials, and Wall Street executives try to get a handle on how the economic crisis grew so large and so fast, debate has broken out over the bailout plan currently under review by Congress...