Word: majors
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...before any measures could be taken against the company, five Senators came calling at the FHLBB, requesting that the charges against Lincoln not be pursued, on the basis that the S&L was a major employer in their states. These Senators - McCain , John Glenn (D-OH), Alan Cranston (D-CA), Donald Riegle (D-MI) and Dennis DeConcini (D-AZ) - had little in common. Most of them came from different states and different parts of the political spectrum. One of the only elements that linked the men together was Charles Keating. The banker had been a major contributor to each...
...major initiatives unveiled by Paulson, Bernanke and New York Fed chairman Tim Geithner over the past months have all been efforts to do for the shadow banking system what was done for the regular banking system in the 1930s. To stop the institutional run on money markets, Paulson announced on Sept. 19 an insurance fund for them that would be backed up by funds usually reserved for currency stabilization. The AIG and Merrill Lynch interventions were attempts to dissolve failing companies in an orderly fashion without panic, as was the Wachovia bailout. The opening of the discount window to investment...
...half a point to 1.5% - the E.U., the U.K., Canada, Sweden and Switzerland, which all also cut their key lending rates. The decision, which came ahead of the Federal Reserve's scheduled meeting October 28-29 to debate a rate cut, was on the heels of consecutive drops in major market indices around the world and the belief that, thanks to falling commodity prices, inflation is no longer the markets' major problem. But in the end, the market only gave proof of one of its old traits: fickleness...
...After two grueling years, only two major events remain in the 2008 presidential campaign: a town-hall forum Tuesday in Tennessee and a debate on Oct. 15 in New York. In a nod to the dwindling window of opportunity, McCain again sharpened his attacks on Obama during a stump speech Monday in New Mexico, charging that Obama harbors a "back story" on every issue that needs to be explored...
...timing of the move was extraordinary and should be seen as a sign of relative confidence. It came, as Ulrich put it, in "stark contrast with major offshore markets - including the U.S., where regulators temporarily banned short-selling in recent weeks." And leverage - using borrowed money to buy or sell shares - is now viewed by politicians in the U.S. as the root of all financial evils. But the experiment in China is aimed at boosting sentiment in a stock market that has been crushed over the past year, for reasons only partly related to the global equity slump. Regulators...