Word: dollarization
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...bank is making foreign investments, not inviting them, with three recent plays in Mexico, Brazil and China. Lewis says those limited stakes are as far as he plans to go. "I don't see buying any bank," he says. Then again, he says of his last three billion-dollar acquisitions: "Certain things came our way." If a good deal calls, Ken Lewis will be listening...
...serious are the consequences likely to be? Much more could go wrong: a collapse of the dollar, or of U.S. consumer confidence as house prices continue their fall. But on balance, the denizens of Davos would be well advised to keep up their sunny spirits. Taking the long view, the global economy is at a remarkable moment. Whatever the chance of a recession this year, the U.S. has experienced what the economist and former Under Secretary of the Treasury for International Affairs John B. Taylor of Stanford University calls a "long boom" since the Fed started to squeeze inflation...
...kidding. Hong Kong's economy has been on a tear lately: bolstered by a booming mainland and the Hong Kong dollar's peg to a weakening U.S. currency, the Hang Seng Index gained 39% in 2007. A recent survey by TNS and Gallup International showed that Hong Kong people are the most optimistic in the world on the general outlook for 2008, with 71% expecting the coming year to be better than the last. All that prosperity is causing headaches for Hong Kong's pro-democracy camp, who are finding it harder to make their cause relevant. In November...
...this project we’ve been working all year on?” said Task Force member Harry Mattison. “There’s nothing in that agreement that is anywhere close to the kind of community benefits package that is appropriate for this billion-dollar initiative...
...says Charlie Black, a former Bush advisor who stayed with McCain after his summertime implosion. The campaign has raised enough money over the past few weeks that no one is worried about being able to continue on through Florida's primary on Jan. 29. "Starting tomorrow, every dollar we raise now will go to Florida...