Word: nationalizes
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...many as 67 financial firms have received a portion of the $700 billion bailout approved by Congress. But absent from the list of companies approved for the government's Troubled Asset Relief Program (TARP) are a handful of midsize banks, which rank among the 50 largest in the nation by the Federal Reserve. And that has a number of analysts and investors who follow these companies worried. "It's a case of be careful what you wish for," says Thomas Brown, whose hedge fund Second Curve Capital specializes in financial firms. "We asked for the $700 billion, and we asked...
...Analysts are concerned that the vote of no confidence from the government would cause consumers to flee the banks, taking deposits and forcing the firms to liquidate or be sold. Among the nation's largest banks that have not yet announced they have been approved for the government's TARP assistance are Synovus Financial Corp, M&T Bank, New York Community Bancorp, Colonial Bancgroup and the South Financial Group...
...plunging 46% in a week, on fears the firm wouldn't qualify for government assistance. On Thursday, though, the firm said it had applied to receive TARP funds. The company's shares rallied on the news to a recent $1.98. Colonial, based in Montgomery, Ala., is one of the nation's largest regional banks, with more than 340 branches in Alabama, Florida, Georgia, Nevada and Texas, and $16.8 billion in customers' deposits...
...face. Services for Dunham have not been announced, and the Honolulu mortuary handling the arrangements, Borthwick Mortuary, has not returned phone calls. Obama's campaign, however, says he will return home to Honolulu sometime in December, prior to his Jan. 20 Inauguration 5,100 miles away in the nation's capitol. (See pictures of Obama's victory celebration in Chicago...
Moderates like Crist have long urged Republicans to adopt a more upbeat offensive in the 21st century, especially during the worst economic crisis since the Great Depression. He and many of his statehouse peers contend that McCain flamed out in Florida and the nation in large part because his campaign followed a negative attack plan. "Right now, people want commonsense answers to problems that are not always ideologically based," Crist told TIME last week. "When it comes to pocketbook issues, I think they want the Florida way, a more bipartisan approach that aims for the sweet spot between hard right...