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...worth $418 billion less than they were four months ago, and the Congressional Budget Office estimates that the government's preferred shares are worth at least $20 billion less. In Wall Street terms, that's throwing good money after bad. All told, the government's annualized rate of return on its investment in the nation's largest banks is -1,096%. That's well beyond Bernie Madoff territory; he topped out at a mere -100%. (See pictures of the demise of Bernie Madoff...
...nothing to patch the hole in the banking system. And it certainly doesn't do anything to encourage banks to make more loans. Yes, banks have gotten nearly $300 billion in money from the government, and that's a lot of dough. But it's not free dough. In return for federal cash, the government has taken preferred-stock shares as the firm's markers. Unlike common stock, which is the kind you or I would buy from a broker, preferreds have to eventually be paid back, so they are really loans, not additional capital. (See which country...
Recently, Steele put out a "Blueprint for Tomorrow" that indicated a determination to strike a balance between Republicans pushing to return to the party's core principles and those who "claim we need to modernize to meet today's reality." Said he: "To my way of thinking, we must do both, and quickly." In the blueprint, Steele clearly borrows key elements of Obama's groundbreaking tactic for generating record levels of donations with innovative social-networking tools. He calls himself a "technology geek," and already posted on the RNC's main website is his "Network for the Future," which features...
...from New York, has a President's Day weekend with an Eagle Viewing Boat Trip. The day starts with an early morning Valentine's Day breakfast, then off to the 54-foot boat to see the New England's largest winter population of bald Eagles. Warm up upon your return with afternoon tea, and get a $25 gift certificate to the nearby Audubon shop. Rates start at $315, available through March 7. 949 Boston Post Rd, Madison...
Clustered in the northeastern hills of Burma, the Buddhist Shan were accorded a measure of self-rule by British colonialists. When Burma became independent in 1948, they agreed to join the fledgling nation in return for autonomy. But the promise, say Shan opposition groups, was never kept - and several militias were soon formed to fight against the Burmese army. Although a ceasefire was signed in the mid-90s by most Shan groups, the minority's resistance is still active in pockets. Over the past decade, forced relocations by the Burmese military of tens of thousands of Shan, who are thought...