Word: crediteers
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...this weekend, the polls had Obama ahead in all four of Moore's battleground states (the Nevada race is the closest). Moore couldn't have anticipated that Obama would benefit from banking chaos - but he does address, on the book's first page, the personal-credit crisis, which he sees as our citizens' response to Bush's call to defeat the terrorists by going shopping. "So a million homes are snatched from hard-working Americans!" he writes, sarcasm dripping from the page. "THAT'S A SMALL PRICE TO PAY FOR FREEDOM...
Sales of new cars and trucks plummeted 32% in October, dropping to levels last seen during the deep recession of 1975, as credit-tightening and recession fears kept buyers away...
Across the board, auto executives see their plight linked to the credit crisis. "The customers need to have a clear mind that they can get financing," says Jim Press, vice chairman at Chrysler, where sales dropped 35% last month...
...just investors who are shying away from betting on corporate America. Banks, too, despite all of the government's best efforts, continue to be reluctant to extend credit to companies. Yardeni notes that in the past six weeks the amount of cash banks are holding has more than doubled to just over a half a trillion dollars, which is nearly a record. Bank lending is up, but Yardeni says that much of the measured increase comes from financial firms like Goldman Sachs and Morgan Stanley being recategorized as banks. "Banks are piling up liquid assets much faster than they...
...Obviously one of the things that I give Senator Obama credit for is the way he’s energized people of our generation,” said Colin J. Motley ’10, president of the Harvard Republican Club...