Word: marketeers
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Dates: during 2000-2009
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...Alan Greenspan argued that institutions deemed “too big to fail” operate under an implicit subsidy from the government, since they would likely be rescued in a future financial emergency. This allows these banks to borrow more cheaply than their competitors and gain even greater market share. Today, four conglomerate banks (JPMorgan, Citigroup, Wells Fargo, and Bank of America) hold 39 percent of all domestic deposits. Placing this many eggs in four baskets will harm the entire economy should one mega-bank falter in a future downturn...
Paul Volcker, the former Fed chairman, and Mervyn King, the governor of the Bank of England, agree that governments should mandate separation between commercial and investment banks. Volcker argues that President Obama’s “regulate the giants” approach is insufficient, since the market changes faster than regulators can keep up with it. Under Volcker’s plan, commercial banks and investment banks would still be free to flourish—just as separate companies...
...Already, utilities, retailers, hamburger joints and others are scrambling to prepare for the swarm of electric and hybrid vehicles, and several are market-testing on-site charging stations. The auto industry is doing its part, not only producing a burst of innovative vehicles, but also attacking some of the nitty-gritty issues, like the size of the plug...
General Kim, who was detained for a year and a half before fleeing, argued that the state intercepts a large portion of foreign aid intended for private recipients. As a result, countries providing aid are inhibiting the emergence of government-independent market activity...
...North Korean state closed the nation’s largest non-governmental market hub — Pyongsong, on the outskirts of Pyongyang — in June of this year, and in January, it placed broad restrictions of the operation of such marketplaces...