Word: shrinkly
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...banks have admitted to $334 billion in losses and write-downs, and the final total will almost certainly be much higher. To compensate, they have managed to raise $235 billion in new capital. The trouble is that the net loss of $99 billion implies that they will need to shrink their balance sheets by 10 times that figure - almost a trillion dollars - to maintain a constant ratio between their assets and capital. That suggests a drastic reduction of credit, since a bank's assets are its loans. Fewer loans mean tighter business conditions on Main Street. Your local car dealer...
...That was a pointed reference to the perils of investing in U.S. financial companies over the last 18 months. In May 2007, China Investment Corp. (CIC), the country's sovereign wealth fund, sank $3 billion into Blackstone Group, the U.S. private equity firm, only to watch its stake shrink by half in value as financial stocks tanked. "The leadership [in Beijing] thinks they got taken and they are determined not to let it happen again," says a Hong Kong investment banker close to CIC. But that does not mean the Chinese aren't interested. CIC bought 9.9% of Morgan Stanley...
...long felt the financial sector is bloated,” he said. “It’s had epic profits for two decades. It was bound to shrink...
Despite the shift in emphasis, the normally scheduled career fair will not shrink this year, Mount said, as recruiters’ attendance was confirmed...
...assuming the worst. "I hate scumbags," Turk says. "I like shooting people." He explains that he joined the police force for the badge and the gun. "Most people respect a badge. Everybody respects a gun." After a few suspicious homicides, both men undergo a brief psychiatric evaluation. When the shrink asks, "How do you feel when innocent people get killed?" Rooster replies, "You know, I sorta got numb to it." He's been around too long for remorse; that just slows down the trigger-finger reflex, gets...