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...particularly watchful eye on them because it could be called on at any moment to take them over. The list for the final quarter of 2008 had 252 banks on it. This figure was up nearly 50% from the previous quarter, but given that some of the nation's largest banks seem to be on the brink of failure, the number 252 seems unexpectedly...
This week, President Barack Obama called for the 19 largest banks in the country to undergo “stress tests” to determine whether they are adequately capitalized to withstand a significant economic downturn. Critics have claimed that the government’s worst-case economic condition forecasts are too weak, making the tests inadequate. Still, the tests should provide valuable information on the health of our banking system, and the administration was wise to order them. Should the results eventually show that any major bank is undercapitalized, the government should not hesitate in taking it into receivership...
...demeanor (he once said Mass in a bright orange Wisconsin-cheesehead hat) and for restoring the archdiocese's reputation following a sex scandal, Archbishop Timothy Dolan, 59, is set to be the next Archbishop of New York City, perhaps the nation's most prominent pulpit. Dolan inherits the second largest archdiocese in the United States, with 2.5 million Catholics in nearly 400 churches, on April 15. Known as a staunch defender of church orthodoxy, he is succeeding retiring Cardinal Edward Egan at a crucial time: the church in New York City faces a bleak economic future and is dealing with...
...What Gono didn't mention is that the government has been one of the largest investors in the market, in which the lag between the implied currency-exchange rate on the floor and the black-market rate on the streets still creates opportunities for quick gains. Other big players include local investment banks and wealthy individuals. The 80 stocks listed on the exchange range from the country's most popular cellular-phone carrier to Zimplow, which manufactures "animal-drawn farming implements," and includes companies producing a cross section of commodities such as timber, wine, nickel, tobacco, even bacon...
...support, of the army. And so her handling of this crisis will be a crucial test of her ability to balance the frustrations of Bangladeshis who are chafing under a powerful military with her own political imperative to maintain good relations with one of the country's largest, strongest and most stable institutions...