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...Hergé maintained that his boy wonder was always just shy of his 18th birthday. Ostensibly a reporter - although he is seen filing a story in only one frame in the entire 24-book oeuvre - Tintin took on various roles as detective, Boy Scout and secret agent. As time went by, he accumulated friends: along with his astute and faithful dog, Snowy, his retinue included cantankerous sailor Captain Haddock; eccentric egghead Professor Calculus; and the doltish, bowler-hatted, doppelgänger detectives, Thomson and Thompson. And his adventures took on more elaborate themes, from drug-smuggling to Cold War spying...
...Asia's banks are significantly underleveraged, meaning they have plenty of muscle for acquisitions. China's leverage ratio is 15.8, Hong Kong's is 14.3, India's is 11.6, South Korea's is 16.7. Having gone through rehab after the 1997 Asian financial crisis, the region's financial institutions went into the current Great Recession with robust balance sheets that they can now leverage up by acquiring the assets that Western banks are shedding. China's banks are in a particularly sweet spot. Grown fat on years of sizzling GDP growth, Bank of China (2008 profit: $9.7 billion...
When Treasury Secretary Timothy Geithner unveiled the details of his plan to save America's banks a little over two months ago, the markets raved, the country sighed with relief and Geithner went from punch line to potential hero overnight. Now the plan is in trouble, as parts of it struggle to get off the ground and others are dead in the water, Administration officials say. But oddly, that may be good for Geithner...
...Instead, the banks went out and raised capital from private sources, including $65 billion in a matter of weeks. On June 2, Bank of America announced that it had raised $33 billion of the $33.9 billion the feds were requiring it to. JPMorgan announced new plans to sell stock. Part of the motivation for the banks is to get out from under government constraints - Congress has passed strict limits on executive salaries, bonuses and other benefits bankers love to love...
...went over my calendar,” Pilbeam recalls of an early encounter with Smith prior to his appointment. “He’d say, ‘What’s that? What’s that meeting? What do you do here? Who’s involved here...