Word: sectoral
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First and last? Much has been made of the fact that Geithner specifically avoided getting input from the financial sector before announcing his plan to fix the nation's ailing banks. Indeed, representatives of the American Bankers Association and the Securities Industry & Financial Markets Association, which lobby for large banks and Wall Street firms, respectively, say they have yet to have sit-downs with Geithner. A number of industry insiders say Geithner's early-February policy speech, which got a poor reception, would have gone better and had more detail if he'd had more meetings with financial executives. Geithner...
...actually worth imagining. The government has so many balls in the air between the financial systems and deteriorating parts of the industrial sector that it may not have either the capital or intellectual capacity to go around. The Treasury has just appointed a prominent investment banker to help oversee the mess in Detroit, but it would take an army of financiers to first comprehend and then advise on what should happen to GM (GM) and Chrysler. The period for comprehension is already in the past. The trouble in the auto industry has to be addressed in the next few weeks...
...finance sector is at the forefront of the downturn, she said. And, two students alleged, some recruiters who did come to campus had little intent of making job offers, and continued interviewing only to maintain a relationship with the school...
...recent global economic slowdown has put the brakes on Vietnam's decade of growth. The International Monetary Fund forecasts that Vietnam's GDP growth will slow to 5% this year from a high of 8.5% in 2007. Hit particularly hard has been the country's manufacturing sector, which helped lift millions out of poverty by providing relatively high-paying jobs. Declining orders from abroad have forced newly built factories to close, sending workers back to their villages...
...surprised at the scope of the looting, says Tuong Lai, former director of the government-run Institute of Sociology in Hanoi. Vietnamese officials at all levels have a reputation for sticky fingers. Last Year, a survey on public-sector corruption by Transparency International ranked Vietnam 121st most corrupt out of 180 countries. "Stealing from the poor is nothing particularly new," says Lai. "But after a year of terrible difficulties, the Tet gift was supposed to be a gesture to help improve the trust of the Vietnamese people." Instead, Lai notes, it sabotaged...