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Indeed, the numbers are eye-catching. As of Dec. 23, the latest date for which data are available from the Federal Reserve, bank lending, at nearly $6.7 trillion, was down $100 billion from the month before. In the past year, the volume of loans outstanding by banks in the U.S. has fallen by more than $500 billion. Bank loans have been trending down for a while. Worse, most analysts don't see bank lending turning around anytime soon. Paul Miller of FBR Capital says a combination of banks' wanting to take fewer risks and lower demand for credit from consumers...
Bank analyst John McDonald of Wall Street firm Bernstein Research says most people are focused on how the lack of loans will hurt bank earnings. Lending is, after all, how banks make money. But in the past year or so, banks have had to sock away more and more cash into their reserves to account for their growing number of bad loans. That's caused earnings to plummet. With loans falling, reserve ratios - the measure of reserves to loans - are growing. That means banks will be able to divert less profit into those rainy-day accounts, which should boost bottom...
...Jensen is one of the most acknowledged and most important financial economists in the past 30 or 40 years, which you can determine objectively simply by the number of his citations," said HBS Professor of Economics Jeremy C. Stein, who chaired the AFA selection committee...
...Taiwan agreement, just signed in October, lifting a ban imposed in 2003 on U.S. beef parts. The new legislation, passed Tuesday, reinstitutes the ban on the import of beef skull, brains, eyes, spine, intestines and ground beef from places with cases of mad cow disease within the past ten years, which includes...
...paper that Wickrematunge founded, immediately after his murder addressed Rajapaksa directly: "In the wake of my death, I know you will make all the usual sanctimonious noises and call upon the police to hold a swift and thorough inquiry. But like all the inquiries you have ordered in the past, nothing will come of this one, too." The widely circulated piece sent shockwaves beyond Sri Lanka. "You will never be allowed to forget that my death took place under your watch," it read. (Read a TIME interview with Rajapaksa...