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...most exciting day of the financial year should have been today because the government releases the results of its multi-month bank "stress test" program which includes thorough vetting of the health of America's 19 largest banks. That part of the drama is over. Someone leaked almost all of the information on the banks that failed the tests and how much money they will be asked to bring in as new capital. Citigroup (C), Wells Fargo (WFC), and Bank of America (BAC) are troubled, as the government sees it, and will have to improve their balance sheets...
...rest of the year in finance will probably be dull. Investors know that banks will lose more money. The government claims, probably correctly, that the stress test results and recommendations for banks to add new capital has guarded against an undercapitalization of the system which could cause another crisis...
...That means the banks face another test just one month from now. It's similar to the strategy the government took with the automakers, which were also asked to present a recovery plan before receiving new government funds. So, just like the automakers, expect some big changes at the banks over the next month. Top executives of Bank of America, Citigroup or Wells Fargo could be out of a job. The government may also decide it wants a much bigger stake in the banks than some are currently letting on. Maybe Tim Geithner and Ben Bernanke are better at tying...
...leaders are wilderness First Responders or wilderness EMTs.Though the leader training may strike some as overly cautious, the Outing Club has learned that it is better to be safe than sorry. During spring break of 2006, a canoe trip in Charleston, South Carolina put the Outing Club to the test. Two students flipped over in rough waves and were carried away from the rest of the group. It was nearly an hour before the two were rescued by a Coast Guard helicopter and boat.Prospective members can rest assured though: Miller says nothing similar has occurred since. THINKING OUTSIDE THE BOXThough...
...over again,” he says. “It’s not rewarding sometimes. That’s when the idea for the Web site was born.”Launched in April 2007, INeedAPencil.com offers SAT prep for free. It provides lessons and practice test questions, and users are able to customize their sessions to fit a certain time frame. But INeedAPencil.com also adds special features to the typical program. These include a visual progress chart that keeps track of completed lessons, a score projector that calculates the actual expected test score based on aggregate performance...