Word: crediteers
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...Both sides, thankfully, are smart enough to know that the only man who can take credit for the Simon Bolivar is José Abreu, 69, an economist turned classical-music maestro who saw, or heard, in the urban ranchos (slums) and rural outposts of Venezuela the raw material of virtuosos. Like anyone who has spent time in Caracas ranchos such as Catia or San Agustin, Abreu "perceived amidst the poverty an immense musical talent, the facility for elegant and forceful rhythms," he told TIME in an interview over the weekend. Listening to youths play contrapunto on the small, four-stringed...
...growing U.S. budget deficit that is expected to swell to more than $1.75 trillion in 2009, the country's largest debt load as a percentage of GDP since World War II. "This is the tip of the iceberg," warns Joseph Tan, the chief Asia economist for private banking at Credit Suisse. "It doesn't look promising for the dollar." (Read "How China Is Capitalizing on the Economic Crisis...
...financial system is deeply flawed before the evaluation process has been finished. The Administration wants to set measurements for whether large American private banks need to raise money. If 10% unemployment is a critical determining factor, many of the biggest financial firms will need extra capital. In the current credit environment, that cash is highly unlikely to come from any source other than the U.S. government. In that case, the sums needed for the TARP and other programs will almost certainly increase. And, the amount could easily be several hundred billion more dollars. Rising unemployment will also move the budget...
...Credit card and a toothbrush. Those are the two things you can't leave at home...
...know how they've managed to brand the recession. I think I might start to make my own brand of cereal called Credit Crunch.' ?Lily Allen, singer...