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...idea to start the Urban Zen Foundation...
...first glance Ottawa's C$125 billion pales in comparison to the $1-trillion "bad bank" being contemplated by Obama to jump-start lending in the U.S.; however, accounting for differences in size between the two economies, the figures are nearly identical. If Canadian banks, ranked best capitalized in the G7 according to the Geneva-based World Economic Forum, are sitting on massive cash injections to healthy balance sheets, what can Obama expect from U.S. banks...
...same is not true south of the border. Under the best-case scenario in the U.S., unsteady financial institutions will need to off-load toxic assets to Washington's "bad bank" in order to start rebuilding balance sheets. Others, like Citigroup and Bank of America, that are teetering on the brink of insolvency will need new capital just to remain on life support. (See 25 people to blame for the financial crisis...
...reinforces the U.S. experience with TARP: government loses control of stimulus money once it falls into the hands of recipients. Obama needs to be realistic about what the "bad bank" can accomplish - namely relieving banks of some junk assets at considerable cost to the taxpayer. It won't jump-start consumer lending - at least not in the foreseeable future if the lesson of Prime Minister Stephen Harper's experience is anything...
...Israel Is Our Home"), who has called for Israeli Arabs to take loyalty oaths or have their citizenship revoked. After Israel's inconclusive election earlier this month, Lieberman's party may control the seats in parliament necessary for the larger parties to form a government. If politicians like Lieberman start gaining a larger platform for their extremist views, Israeli passports may become even more radioactive. (See a video on Lieberman's role in Israel...