Word: creditably
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...would only get that high if every bank in the U.S. were sold and troubled mortgage assets were all written down to zero. Still, a number of banks have made acquisitions since the rule change and are already benefiting. Wells Fargo will book an estimated $25 billion tax credit from its November acquisition of Wachovia. PNC, which bought National City in October, could get as much as $5 billion in tax benefits from that merger. And Capital One, which bought Chevy Chase Bank earlier this month, is looking at a $500 million tax windfall. Investment Losses Now Count for More...
...Last April, credit rating agencies recognized this achievement and gave Brazil’s sovereign debt “investment grade” status. But this was a small reward given the shift the country has experienced since 1994. Brazilian government bonds remain too cheap (currently paying over 500 basis points above the 10-Year Treasury). Charging a sky-high political premium to a country that has had a fiscal revolution, and where Daniel Dantas can be arrested through due process of law, seems to be rather exaggerated. The bonds’ inadequate BBB-rating—barely above speculative...
...even with top-flight credit, Harvard faces a higher cost of borrowing because of the recent market downturn...
...last week’s announcement, Harvard officials said they planned “to take advantage of Harvard’s strong credit ratings to increase the University’s flexible cash resources in the near term...
...Renowned for her work as Nigeria’s finance minister from 2003 to 2006, Okonjo-Iweala took the World Bank position last October, just in time to see the global financial system collapse amid the credit crisis. She is now so busy that her children say they sometimes have trouble getting in touch with her. At one point, she owned seven different cell phones...