Word: feds
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...much to do. It will delay talking about its new overhaul for banks until Tuesday while it works with Congress to help finalize a new stimulus package which may have a $800 billion price tag. It also has to prepare plans for how it will work with the Fed and FDIC to pull the financial system back together...
...much to do. It will delay talking about its new overhaul for banks until Tuesday while it works with Congress to help finalize a new stimulus package which may have a $800 billion price tag. It also has to prepare plans for how it will work with the Fed and FDIC to pull the financial system back together. (See who's who in Barack Obama's White House...
...general explanation being fed to the public for our current financial crisis also rests on this “ethic of greed.” Money-grubbing banks, so the tale goes, provided loans to homeowners who were clearly ill-equipped to repay them. Somewhere along the line, Wall Street CEOs and executives ignored their consciences and followed their wallets, seeking high returns while ignoring the potential ramifications of their imprudent lending practices...
...stuck with Chuck? When I started at the Staten Island Zoo 15 years ago, I was working in the hospital - the surgical unit - and that's where the groundhogs were kept at that time. We had some baby groundhogs that were so young they had to be bottle-fed every four hours, so that started this whole process of me taking groundhogs home on weekends. Chuck was wild caught. He was an orphan, but now that we only have Chuck, he lives with...
...Year in December. Now he's fighting to keep his job. And even if he succeeds, he's got a new partner. The government already has a large stake in his bank, with its $45 billion in preferred shares. The government's ownership could dramatically rise if the Fed starts buying common shares of BofA, which would mean that Washington would be calling more of the shots. Increasingly, the only shareholder that matters to Bank of America and other banks is Uncle Sam. Without the government, the math of the banking business these days just doesn...