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...Gist: The Federal Reserve's latest survey of regional economic activity - more commonly known as the "Beige Book" - offers a collection of anecdotes from market experts, economists, "key business contacts" and reports from Bank and Branch directors all over the country. Published eight times per year, the latest Beige Book will be used in the upcoming Dec. 16 monetary-policy meeting, when the Fed will determine whether to cut interest rates...
...election of Barack Obama does not represent a "New Liberal Order" so much as the latest desire to establish responsibility in the congressional playpen. For decades, Americans have voted in politicians with the hope that they would work together for the common good. And for decades, most of these politicians have acted like spoiled, self-interested toddlers. "Change we can believe in"? Our needs are much simpler than that. At this point, we would settle for someone who can persuade Congress to act like adults - and maybe even share. If not, we will be interviewing for a new day-care...
...equity deals were completed in India. Repayment rates remain very high, 97% or 98% in many places. That results from good, old-fashioned credit methodology - you know a household's capacity to repay. That's the kind of old-fashioned banking that some people feel was absent in this latest round of banking disasters. At the same time, we are seeing many microfinance institutions (MFIs) scaling back expansion plans and, in some cases, raising interest rates as a result of the credit-spread increase and the rising cost of borrowing. Certainly, no one is taking their existing funding relationships...
...First Parish Church on Monday, November 24. “A reminder,” he says. “There is no photography during the talk.” So began world-renowned photographer’s Annie Leibovitz’s reading of her latest book, “Annie Leibovitz at Work,” sponsored by the Harvard Book Store. The audience chuckles...
There's nothing new in China being touchy on the subject of Tibet, of course. What makes this latest episode unusual is China's failure to call out other European leaders who have met with the Dalai Lama recently - as British premier Gordon Brown did in May, and German Chancellor Angela Merkel did in August. Beijing also has little to say about E.U. officials who will speak with the Dalai Lama during his tour of Europe this month - including officials from the Czech Republic, which assumes the E.U.'s rotating presidency from France in January. So why the exceptionally rough...