Word: nationalizes
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...months, Citigroup has been dogged by concerns about the quality of the loans on its books. Citi was, after all, one of the nation's largest sub-prime lenders, not just to homebuyers but through its credit card division as well. This week, the fears have centered on the quality of its corporate loans, and to a lesser extent its credit card business...
...Another possible suitor could be US Bancorp. The Minneapolis bank is one of the nation's largest, but it has little presence on the East Coast, where Citi is big player. U.S. Bancorp has a market cap of $40 billion, about double the size of Citigroup. What's more, U.S. Bancorp chief financial officer Andrew Cecere recently told the Wall Street Journal said that the firm was interested in making a large acquisition...
Other items on the renewables industry's wish list: a national renewable-energy portfolio standard, which would require a certain percentage of U.S. electricity to come from alternative sources. (More than 20 states already have similar standards, but a national one would be tricky, given that utility regulation in the U.S. is localized.) Green energy leaders would also like to see an executive order that would greatly expand the federal government's procurement of renewable energy - a smart idea, easily doable - plus a major initiative to update and smarten the nation's aging, overworked electrical grid. That last item...
...Obama Cabinet featuring Gates as Defense chief and Senator Hillary Clinton (who supported invading Iraq) as Secretary of State. But Gates has won praise on Capitol Hill for arguing that U.S. foreign policy is too militarized and for firing senior officers and officials he deemed to have failed the nation's wounded vets and to have been derelict in ensuring the security of America's nuclear weapons. (See the Top 10 Secret Service code names...
Michael Steele does not diminish the power of the Obama victory. "As a black man, of course I am very proud of his accomplishment," Steele says. "It is at once uplifting - of not only a people but a nation - and sobering in light of the work that remains to be done to address the systemic erosion of black wealth, health and opportunity." But Steele predicts that Obama as President will find it difficult to appease his more liberal supporters as he is forced to moderate views on the economy and the wars in Iraq and Afghanistan, among other issues...