Word: financeseated
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Facing such a woeful economic outlook, E.U. monetary-affairs commissioner Joaquin Almunia has struggled to make the case for fiscal rectitude. He insists the pact is flexible enough to allow short-term stimulus programs. "During the recession, the pact is not about sanctions," he said last week. "But in the...
At the head of the former line is beleaguered giant Citigroup, which is currently negotiating with the Treasury Department to swap common stock in the company for some of the $45 billion in preferred stock that the government has purchased so far to shore up the bank's finances. The...
• Has also worked for a non-profit organization in the Bronx called PROMESA (the Puerto Rican Organization to Motivate, Enlighten and Serve Addicts) after working as a district manager in the Bronx. Carrion was reportedly hired in 1993 in part to improve the image of the organization, which was...
It's becoming a cliché: California lawmakers again fail to reach agreement on a budget. As California engages in a budget battle that has left the government of the world's eighth largest economy slipping toward insolvency, Republican Governor Arnold Schwarzenegger and the Democratic legislative majority continue to search...
Why haven't plaintiffs attached Iraq's oil revenues in international courts? That account is kept safe by special U.N. protections at the moment, and its currency reserves in Baghdad cannot be touched. But any move by Iraq on international capital markets involves a gamble unlikely to turn out well...