Word: loaned
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...days. Though Citi is moving aggressively to hive off assets and divisions - earlier this week it announced the merger of its Smith Barney brokerage unit with Morgan Stanley's Global Wealth Management division, a deal that will bring Citi more than $2 billion - investors are worried about worsening loan losses across the banking sector and also about Citi's ability to get decent prices on any other asset sales. Even JPMorgan Chase, which reported a small fourth-quarter profit of $702 million, was the bearer of troubling news, as CEO Jamie Dimon spoke of more hard times to come...
...Germany Better Late than Never After months of denying there was any need for a rescue, Chancellor Angela Merkel unveiled a $66 billion stimulus package and a $132 billion loan fund to help Europe's largest economy through its worst recession since World...
...their job? But the recession has given rise to an epidemic of foot-in-mouth disease, with incidents ranging from the awkward to the deeply wounding. For example, how do you ask a co-worker if she survived the layoffs, or turn down a relative's request for a loan? "Being respectful and considerate is always important, especially in these trying times," says Post, the great-granddaughter-in-law of etiquette guru Emily Post. (Watch Peggy Post answer your etiquette questions...
Borrower's TaleWhen asked for a loan, it's O.K. to say no. But if you say yes, it's fine to ask for a repayment agreement in writing...
...Bernanke suggest creating a huge "bad bank" to own the toxic asset that are on the balance sheets of America's largest financial companies. There is some precedent for that from the savings and loan catastrophe two decades...