Word: powerizers
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...proposed by Senator Richard Durbin, a Democrat from Illinois - failed to win support, the shares rebounded. However, the Senator has reintroduced the bill in the current session of Congress, and it could ultimately find its way into financial-industry reform. More worrisome to investors is the potential power of a Consumer Financial Protection Agency, part of the financial-reform bill recently passed by the House and under consideration in the Senate. Under the current versions of the bill, the agency would not have the power to set interest rates. But public anger with America's financial industry is rising...
...times, the top executives did contend that regulation might have been too loose leading up to the crisis, but they stressed that that was no longer the case. All thought that the government needed the power to resolve large troubled institutions. Brian Moynihan, CEO of Bank of America, said the resolution authority could be based on the way the Federal Deposit Insurance Corp. closes down smaller banks, which involves auctioning off troubled institutions to stronger competitors, often with a government guarantee for risky assets. Also questioned by the panel was Morgan Stanley's chairman, John Mack. (See 25 people...
...most worrisome outcome for the DUP would be if a three-way split of the Protestant vote allowed Sinn Fein to emerge as Northern Ireland's biggest political party. That potential power swing and the inevitable friction between Sinn Fein and rival Unionist groups could see political progress grind to a halt. Such an outcome would also be a disaster for Peter Robinson, who for almost 30 years has carefully steered the DUP away from the firebrand populism of its founder, the Rev. Ian Paisley, to its current position at the top of Northern Irish politics. If he fails...
...opulent élite of powerful Filipino families that have governed the nation for decades date back to the Spanish and American colonial period. But local warlords became an increasingly visible feature on the political landscape after independence in 1946. The Pacific war had just ended, and the country was awash with firearms left by the beaten Japanese forces or supplied to Filipino guerillas by the U.S. military. This was a period, too, when the government in Manila lost control over some provincial areas, enabling a new generation of families and clans to establish political strongholds. Some, but by no means...
...police and armed forces already have a list of the private armies being run by warlords," says veteran politician Aquilino Pimentel, a Senator. As Banlaoi puts it, "The biggest challenge to getting rid of these groups are the close political connections of those running them to figures in power and allies in Congress...