Word: feds
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...residential mortgage bonds that used to have AAA ratings but have since been downgraded. The calculations are based on numbers from the International Monetary Fund, Fitch Ratings and New York University professor Nouriel Roubini. (Treasury and Federal Reserve officials declined to provide their estimates.) To get those selling, the Fed offers some attractive financing, but it hasn't made those details public and the financing is expected to be considerably less favorable than the FDIC rates. Treasury officials insist they have formulas worked out but are waiting to reveal details. (Read "A Brief History Of: Ratings Agencies...
...Twitter, including a surprising number of celebrities. Sean (Diddy) Combs recently Twittered about a tantric sex session, a 48-hour juice fast and taking a bubble bath with an Oscar statue. John Cleese has written about his pet chickens, while MC Hammer has mused on the economy ("We just fed the nation 15 [years] of evil soup. Now we're throwing up"). Other celebrities, including Shaquille O'Neal, post actual information about where they are and what they're doing. And they encourage fans to meet them...
...major central bank for years. The move was enough to cut 3% off the currency's value against the euro; since then, the franc's fallen further still. Even the greenback, which rallied in recent months, stands at its lowest level against the euro since early January following the Fed's announcement last week that it would spend some $1.2 trillion on government and mortgage bonds, flooding the markets with dollars...
...Bank stock bulls rest much of their case on the fact the write-offs at financial firms are slowing and the Fed is putting enough money into the credit system to restart the normal cycle of borrowing and lending. That may well be true. Those pushing bank stocks as a great investment would also say that, even though a stock like Citigroup (C) has had a great run, it is down 90% from its 52-week high. That makes it a bargain...
...Strategic and International Studies in Washington, agrees. "This is the first time that those of us who have been watching Somalia for all these years have been able to feel a bit optimistic," she says. Somalia last had a functioning government in 1991 and "99% of Somalis are fed up with 20 years of fighting and no government, and are willing to give Sharif a chance," she adds. "He's someone who had a hand in the ICU, but who can also approach other Somalis. They see him as good enough. There's a slight chance that things are moving...