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...better than the overall 0.1% growth figure for the fourth quarter, economists noted. "When the results were announced this morning during the meeting we were holding for the occasion, the hundreds of gathered guests all howled in derision and embarrassment at the figures they heard," says David Buik, a market analyst at the London brokerage firm BGC Partners. "It wasn't antipatriotic but rather the expression of enormous frustration at seeing so much money and effort made to stimulate economic and industrial activity for such meager returns." (See pictures of the economic crisis in London...
...election, it would not only be undemocratic but also, according to those familiar with congressional rules, would result in a watered-down bill missing key provisions to expand coverage and protect American insurance buyers. Senate Budget Committee Chairman Kent Conrad explained that “insurance market reforms, all the changes designed to encourage wellness and prevention,” among other things, could still be easily jettisoned because they do not relate directly to deficit reduction, which is the sole goal of reconciliation itself...
Stiglitz, a former World Bank Chief Economist who is known for his critical views of modern globalization, lambasted “market fundamentalists” for their devout adherence to capitalism, which resulted in loosened regulations and increased risk-taking...
...bailout. Detroit's arrogant insularity had left it with crushing debt, slipping standards and lots full of cars nobody wanted. The Big Three's days may be numbered. Ingrassia foresees a future in which five or six smaller companies split their share of the U.S. market, with 10% or 20% for each. The ultimate question facing the new leaders is whether they will learn from their predecessors' mistakes...
...both countries on trade with Russia, this still seems like a distant prospect, and some analysts say Kazakhstan's offer to Belarus is most likely a bluff. It would be costly and difficult for Kazakhstan to ship oil to Belarus, and Belarus could not afford to pay fair-market prices anyway, says Denis Borisov, an analyst at Bank Moskvy, one of Russia's largest banks. Kazakh companies could, however, undercut Russian bids for the Naftan refinery, he says, which would be a major blow to Russia's energy strategy in Eastern Europe. (See pictures of the Russia-vs.-Georgia...