Word: creditably
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...Information Arbitrage (957 links) The author has been in the M&A and derivatives businesses for some time. Strong and rich commentary on current financial events, investment risks and rewards, and the current credit and economic crisis...
...Citigroup--and the American financial system--ever since. James Stillman, who became City's president in 1891, combined prudence with great ambition. City Bank cruised through the Panic of 1893, thanks in part to the huge stash of gold that Stillman had acquired--gold being the backing for credit then--because he sensed trouble. City joined J.P. Morgan in bailing out the nearly bankrupt Federal Government in 1895 and soon grew to be the country's biggest bank. Its growth went international in 1914, after City lobbied Congress to tweak the Federal Reserve Act and allow branches abroad...
...leader was Walter Wriston. The bank's CEO from 1967 to 1984, Wriston changed the y in City to an i. After years of success, though, he left the bank with billions in bad loans to Latin America. Only profits generated by the U.S. retail-banking and credit-card juggernaut built by Wriston's protégé John Reed--combined with a certain amount of forbearance by bank regulators and a lot of cash from Saudi Arabia--enabled Citi to survive. Reed then agreed to a 1998 merger with Travelers Group, which necessitated congressional repeal of the Glass-Steagall...
Thank you very much, man. First of all, I recognize that I am blessed. I recognize the source of my longevity is God, and I never, ever try to take his credit for what's going on in my life...
...code by Geithner, who prepared his taxes during several of the years in question, or by his accountant. Among Geithner's missteps: he claimed that payments made for summer camp for his children were tax deductible because they qualified as dependent-care. But the dependent-care credit is aimed at helping middle-class working parents afford the cost of daily child care, not at helping pay for expensive retreats. An accountant told Geithner in 2006 that overnight camps were not eligible for a tax break, according to the Senate Finance Committee report. Still, Geithner failed to file amended tax returns...