Word: financees
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She has every reason to be scared because financial services have a record of retrenching fast in a crisis. And the business in some sectors has evaporated. The volume of mergers and acquisitions, for example, is down by about two-thirds from its peak in 2006, while the public stock...
Braced for Pain This isn't the first crisis London has lived through, and it won't be the last. At his Guildhall office, policy chief Fraser talks about his 45 years of experience in the City and says, "You just have to sit it out. It recovers." But he...
For a position this important, Kashkari, the American-born son of Kashmiri immigrants, may seem an unlikely pick: he's been in finance for only eight years, two as a student at the Wharton School and four as an executive in the San Francisco office of Paulson's old firm...
Kashkari is part of a little-known boarding party Paulson brought to Washington two years ago. It included Kashkari's boss, Anthony Ryan, 45, the acting Under Secretary for Domestic Finance, who's been in charge of keeping track of all the new debt taxpayers have assumed recently, including open...
With Wall Street going off the cliff, and housing prices still declining in many areas, both spending and lending are being squeezed all across the country. Consumer lending contracted last month--that's practically un-American. Car dealers may fold by the hundreds, as customers can't get credit to...