Word: saying
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...shape. U.S. Century Bank, for example, boosted its net interest earnings, a key measure of profitability for banks, nearly 20%, to $12.6 million, in the second quarter of this year. Yet in early August the government decided to send the bank $50.2 million in TARP funds. U.S. Century executives say they plan to use the money to increase lending and boost profits. "The banks that are getting the TARP money now really don't need it," says Steve Verdier, who heads government affairs for the trade group Independent Community Bankers of America. His organization favors extending TARP funds to banks...
...Treasury Department says the TARP funds were never meant to solely prop up failing banks. In fact, officials say one of the criteria for getting funds under the TARP's Capital Purchase Program, in which the government injects money into a bank in return for preferred shares, is proof that a bank could survive on its own. While the Treasury is winding down some of its programs meant to assist the financial sector, it has no plans to end the TARP program early. The Treasury Department says it is still getting new requests from banks for TARP funds. (Small banks...
Earlier this year, Geithner gave a speech promising more assistance from TARP to smaller banks. Treasury officials say the Obama Administration has placed an increased emphasis on using TARP funds to ensure the strength of smaller banks. "The Capital Purchase Program expansion for small banks is helping to stabilize the economy, support small businesses and get us on a path to recovery," says Treasury spokeswoman Meg Reilly...
...three of the nine cases Rockstrom has pointed out, however - climate change, the nitrogen cycle and species loss - we've already passed his threshold limits. In the case of global warming, we haven't yet felt the full effects, Rockstrom says, because carbon acts gradually on the climate - but once warming starts, it may prove hard to stop unless we reduce emissions sharply. Ditto for the nitrogen cycle, where industrialized agriculture already has humanity pouring more chemicals into the land and oceans than the planet can process, and for wildlife loss, where we risk biological collapse. "We can say with...
...best explicated by rapper and self-proclaimed genius Kanye West, as good a barometer of the cultural zeitgeist as any: “If you read books—which I don’t, none at all—about how to become a billionaire, they always say, ‘You learn more from your mistakes.’ So if you learn from your mistakes, then I’m a fucking genius.” In response to a Rolling Stone interviewer’s request for a definition of genius, West added that...