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...While [Wells'] management's efforts to 'de-risk' Wachovia's problem loans may help in the near term, we still expect losses to exceed management's expectations," wrote analyst Paul Miller, who follows banks at FBR Capital Markets, in a recent report to clients. Miller, who rates Wells' shares "underperform," expects Wells' stock to fall by half its current price to $12. "Given our macro outlook ... we just can't get comfortable with Wells' balance sheet...
Assuming nothing surfaces in Sotomayor's background that causes controversy, expect her to be seated when the court opens for its new term in October, after thorough confirmation hearings that will seem more like a lovefest than a legal firing squad. By both design and luck, Obama faces a Supreme Court-pick process that has been drained of the tension and combat that has characterized such moments in the past several decades. (Read "Four Enduring Myths About Supreme Court Nominees...
...events in Punjab - and thousands of miles away in Austria - point to a broader problem: the dangerous mix of inequitable development and enduring caste-based resentment. The northern state has a higher than national average population of Scheduled Castes, an umbrella term for various lower castes, with 28.95% in Punjab against India's average of 16%. "Dalit Sikhs and Ravidasias, especially in the fertile Doaba belt which sends out a large number of immigrants, have seen immense prosperity lately, and with it, a rising Dalit consciousness and assertion," says Dr. Ronki Ram, reader in the Department of Political Science...
...fundamental notion underlying U.S. diplomacy with Pyongyang, going back to Bill Clinton's first term as President, is that North Korea can be bribed. In this view, everything that Kim's regime says or does is meant simply to up the ante in negotiations and get the U.S. and its negotiating partners to sweeten their offerings. This conviction is widely shared among career diplomats in Seoul as well, and they joined their State Department colleagues in outrage when the Bush Administration at first took a confrontational approach with the DPRK. Bush's hard-line stance, the critics believe, prompted Pyongyang...
...Putin's reference on Sunday to "Little Russia" - a term used during the Russian Empire to describe parts of modern-day Ukraine that came under czarist rule - has raised hackles in Ukraine, where many consider it demeaning and offensive...