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...children of right-wing oligarchs. Many were leftists themselves, with first names like Stalin. Their beef, they said, wasn't so much with Chávez's Bolivarian Revolution, which many of them acknowledged had finally enfranchised the poor in a country that has the hemisphere's largest oil reserves but one of its most shamefully inegalitarian societies. Rather, they were part of the first Latin American generation raised on a democratic political diet, and they feared, fairly or not, that Chávez was out to become their generation's Fidel Castro...
...also decrease banks' capital, because their earnings are used to purchase shares rather than being retained as cash. Worse, sometimes banks borrow money in order to buy back shares, upping their leverage and lowering their capital at the same time. In the past four years alone, the nation's largest banks, as defined by Standard & Poor's, have spent $300 billion buying back stock...
...additional $100 in preferred shares and says, "Go make more loans." Well, the bank might then have $200 in loans, but it still has only $5 in common shareholders' equity. The result: if just 2.5% of its loans go bad, the bank's shareholders are wiped out. Wisely, the largest banks in the nation lent less in the fourth quarter of 2008 than in the previous three months - a strategy that has drawn some complaints. But that hasn't removed the pressure on their shares. That's because the banks have had to continue to take loan losses. And banks...
...Miller looked at eight of the largest financial firms in the U.S. and determined that on average, if just 3.4% of their loans go unpaid, their shareholders will be wiped out. The good news is that these firms are so large that 3% of their loan portfolio is a really big number: some $400 billion. The timing of when the loans go bad matters too. If, say, 5% of a bank's loans go bad over 10 years, the bank will survive. It can cover the loan losses with the earnings it gets from all its paying customers. But given...
...Breakfast on Connecticut's coast, just 2 hours from New York, has a President's Day weekend with an Eagle Viewing Boat Trip. The day starts with an early morning Valentine's Day breakfast, then off to the 54-foot boat to see the New England's largest winter population of bald Eagles. Warm up upon your return with afternoon tea, and get a $25 gift certificate to the nearby Audubon shop. Rates start at $315, available through March 7. 949 Boston Post Rd, Madison...