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...while Washington's public humiliations often hang on mere misdemeanors of a sexual, financial or chemical nature, the economy depends on Geithner's ability to restore confidence, as President Barack Obama argued in a prime-time press conference on Feb. 9. "My instruction to [Geithner] has been, Let's get this right. Let's create a template in which we're restoring market confidence," he said, later adding, "Ultimately, the government cannot substitute for all the private capital that has been withdrawn from the system. We've got to restore confidence so that private capital goes back...
Adding injury to insult, Standard and Poor's reiterated its sell opinion on shares of GM, which are commanding a mere $2.04 a share - about the price of a subway ride in New York City. Observing that the industry is gripped by an "automotive depression," S&P's Efraim Levy added, "We do not foresee an uptick in industry demand before Q4 '09 at the earliest." Chrysler was spared a similar indignity because it is privately held...
...mere fact HSBC turned a profit despite its troubles was a small ray of light amid an otherwise bleak outlook. New figures covering January showed industrial output falling more than anticipated in the eurozone; joblessness rose from 8.1% in December to 8.2% in January, nearly a full percentage point higher than the same month last year. (Find out 10 things to do with your money...
Finally! After seven long years, the Obama administration has ordered that the detention of prisoners at Guantánamo Bay come to an end. A mere two days after his inauguration, President Obama signed several executive orders to close the facility within the year, terminate the CIA’s coercive interrogation program, and commission a policy review for the detainment and questioning of terrorist suspects in the future...
OLPC should not lose heart. There may be hardware problems, and even over-ambition problems, but the NGO is on the right track. Indeed, groups around the world are emulating its endeavors: The Indian government is busy working on a laptop for a mere 500 rupees...