Word: coversion
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The Fed has passed tens of billions of dollars of loans to banks and brokerages through its emergency lending window. It has lowered interest rates to zero. Treasury has put $25 billion into each of the money center banks. It is now backing over $300 billion in bad assets held...
Investment drops in a period of deflation. Who wants to put money into assets which may continue to lose value? Who wants to buy goods and services and hire people when all of those may cost less in the future? (See pictures of TIME's Wall Street covers.)
See pictures of TIME's Wall Street covers.
See pictures of TIME's Wall Street covers.
As Director of National Intelligence, Retired Admiral Dennis Blair will oversee the nation's sprawling complex of 16 intelligence agencies, a post he comes to having already served as a top CIA official near the end of a 34-year Navy career. He capped off that career as head of...