Word: sheets
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Dates: during 2000-2009
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...just an ordinary recession.” With the target for the Federal Funds rate against the zero lower bound, the limitations of the Federal Reserve are quite apparent. Since no one can trust a bank’s balance sheet, laced with so-called toxic assets, the economy continues to be threatened. Our legislators are left two main choices: Inject the banks with more capital and hope for the best, or take over insolvent banks, wipe out shareholders, replace the executives, and make the bondholders the new shareholders...
...recession undermines the ability of its business and consumer customers to pay their bills. A Deutsche Bank analyst recently wrote that GE Capital has zero value in contributing to the value of the company's stock. His argument is that the unrealized losses on the financial unit's balance sheet are greater than most investors understand. On top of the analyst's report, The Wall Street Journal reported that GE has significant exposure to the failing commercial real estate market. (Watch a GE advert shown during the Super Bowl...
...billion of market capitalization in about a year. During the same period, Citigroup has lost $130 billion in market cap. Bank of America has lost $200 billion. Since GE's financial services business is not the majority of its revenue, the destruction of it market value seems extreme. Balance sheet jockeys would say that the trouble the market fears is hidden within GE's asset base and will jump out to eviscerate earnings soon. So far there is no sign that GE will implode because of the state of its financial services receivables or its debt...
...Real humanity takes place in the practice of everyday life, in the fine textures of workaday relationships. It is awfully difficult. Service can’t be used to balance off an imagined moral ledger sheet or to cancel out privileges we feel bad about. Instead, we should try to avoid accumulating too much vulgar privilege in the first place—a quantity that isn’t measured in crude indexes like money or education or employment, but in the degree to which our social behavior trends either toward humility or toward hierarchism...
...Coogan found success in Brattle Square, earning as much as $50 for one evening of performing, but they were also confronted with unexpected challenges. After their first performance, the two had learned that scoping out a favorable spot in the Square was a competitive sport, bringing extra sheet music comes in handy when a crowd gathers, and especially for Coogan, performing on the street renders one much more vulnerable than when performing in a concert setting. But Coogan grew to enjoy the challenge of attracting an audience and plans to play more often. This spring he hopes to expand...