Word: crediteers
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...much bad news. Citi stock plummeted, dropping 60% over the course of the week, to $3.77 a share. Meanwhile, other parts of the market confirmed Citi's stressed state. The cost of credit-default swaps that protect investors from losing money on Citi's bonds skyrocketed, signaling a lack of confidence in the bank's ability to survive. Bankruptcy rumors circulated, and fears grew that people doing business with Citi - including its retail banking customers - would pull their money. At that point, regulators felt they had no other option but to step...
...that aren't on its balance sheet but kept in entities somewhat removed from the company. These assets could be problematic if the economy grows worse. Fox-Pitt Kelton's Trone also points out what's not included in the government backing: $129 billion in nonresidential consumer loans like credit cards, auto loans and small-business, student and personal lines; $150 billion of consumer loans overseas; and Citi's corporate-loan portfolio. Put simply, there's room for more to go wrong...
Among the crowd were fans ranging from middle school students to long-time fans who credit Leibovitz with their passion for photography...
...presidency. And if his platform is any indication, he hopes to attack poverty, ignorance, and lack of economic opportunity head-on. Among other measures, he has promised to increase education funding, invest in job-creation programs in disadvantaged neighborhoods, and raise the minimum wage and the Earned Income Tax Credit. While these campaign pledges may be transformed or scaled back in the face of wider recession, they reflect Obama’s understanding of the problems that disproportionately affect minorities, and his desire to solve them...
...with the eventual game-winner. “That second goal was huge, because that was right in the middle of our penalty spree that we took in the second period,” co-captain Jimmy Fraser said. “And then after that, I give them credit, they’re a great team defensively, and we weren’t able to generate any offense after the middle of the second period.” Most of Harvard’s penalties came at a time when the team was struggling to establish its offense...