Word: morgans
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Dates: during 2000-2009
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...good news is that in the U.S. now, as Richard Berner, chief U.S. economist for Morgan Stanley, writes, "The ultimate bastion of defense against deflation is a Fed committed to avoid it at all costs." And that's what we have. Study of the Japanese experience became something of a cottage industry for Fed researchers over the past eight years, and the Fed has responded accordingly: lending directly to banks, backstopping the commercial-paper market (which companies use to raise short-term money), trying to bring yields on both long- and short-term maturities down. Further, Fed chairman Ben Bernanke...
...Without ways to capture the carbon burned in coal and sequester it underground, new plants all but guarantee billions of tons of future carbon emissions and essentially negate efforts to reduce global warming. "Business as usual can't continue as long as coal is destroying the climate," says Hannah Morgan, 20, one of the Dominion 11. "We are not going to back down...
Hard-core activists like Morgan have already heeded Gore's call. Many work in groups like the Rainforest Action Network (motto: "Environmentalism with teeth") and Rising Tide. But this isn't just the work of coastal élites; on Oct. 26, dozens of locals in Kansas picketed the massive Lawrence Energy Center, the 12th most polluting coal plant in the U.S. Similar protests pop up anywhere a new plant is being built...
...decisions at firms like Citigroup and UBS about what lines of business to pursue will be made with more of an eye to how much risk comes along with the profit. Merrill Lynch's running into the arms of Bank of America and its steady-Eddie deposit base, and Morgan Stanley's and Goldman Sachs' opting to become bank holding companies can be read as early evidence of the move toward that balance...
...past six weeks the amount of cash banks are holding has more than doubled to just over a half a trillion dollars, which is nearly a record. Bank lending is up, but Yardeni says that much of the measured increase comes from financial firms like Goldman Sachs and Morgan Stanley being recategorized as banks. "Banks are piling up liquid assets much faster than they are making loans," says Yardeni. "And that's not a good thing...