Word: holes
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...There's little hope that the type of shares the government is buying in banks as part of the Troubled Asset Relief Program (TARP) will plug the hole in the banking system's bucket. Paul Miller, an analyst at FBR Capital Markets who has written a number of reports on the capital issues of banks, says the only way to solve the problem is for the government to stop buying preferred shares and start taking direct ownership stakes. Of course, the issue with that approach is that the problem at the banks is so large, Uncle...
TARP does nothing to patch the hole in the banking system. And it certainly doesn't do anything to encourage banks to make more loans. Yes, banks have gotten nearly $300 billion in money from the government, and that's a lot of dough. But it's not free dough. In return for federal cash, the government has taken preferred-stock shares as the firm's markers. Unlike common stock, which is the kind you or I would buy from a broker, preferreds have to eventually be paid back, so they are really loans, not additional capital. (See which country...
...dazzle of the digital age, never forget the essential economic undertaking: busting rocks and moving dirt. You can't have Silicon Valley without first digging up the silicon, and even the smartest building starts out as a hole in the ground. So the news that Caterpillar is laying off 5,000 workers--bringing its total of recent layoffs to 20,000--only confirms that the economic contagion is spreading, from the executive floors of high finance to the bedrock world of tractors and dump trucks...
...dividend cuts move from company to company, more capital is taken out of the hands of consumers who already have barely enough cash to make ends meet. It is another one of the unforeseen domino effects of the growing economic turmoil. And, it is another hole for the stimulus package to fill...
...late 1990s who accused the group of promoting excessive global capitalism and disenfranchising poorer nations. Political scientist Samuel Huntington who coined the pejorative term "Davos Man" (referring to participants who he viewed as having a false sense of their international identity), famously dismissed the conference as a "watering hole for the global elite." The WEF quickly responded to the complaints by inviting representatives of developing countries and NGOs to the meeting and introducing an adjacent forum nearby, open to all members of the public...