Word: yorke
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...Bank and New York Community Bank have both made money in the past year and are probably examples of financial firms that may not need assistance from the government. Still, observers say the consensus among bank executives is that the TARP program is a good deal. So any firm that decides to opt out may raise concerns among investors and customers...
...brutal contraction as customers - rich investors, university endowments and pensions funds that make up the bulk of hedge funds' clientele - rush to withdraw their investments. Some analysts predict that a quarter of all hedge funds could fold by the end of the year. Stephen Brown, an economist at New York University's Stern School of Business, says the final toll could be much higher. "I'd say 50% of funds will close," he says. Factor in likely new government regulation, and the industry looks set for a profound, and painful, transformation. One newly retired fund manager seemed...
...equivalent of a $3.3 million home-equity loan on a $100,000 house. When the market turned skittish after the Russian default, the fund had to rapidly unwind illiquid positions, sustaining huge losses in the process. Only a bailout brokered by the Federal Reserve Bank of New York staved off a wider collapse of the U.S. financial system...
...goes onto his race. I'll teach my children that Obama in the White House was an enormous triumph for acceptance, but I hope that they, like me, will be unable to see why America imposes the racial divides that force us to choose. Jennifer Outler, Cambria Heights, New York...
...Unistraw's interest is spurred by a different set of numbers. "What's exciting," says managing director Tim York, "is that today it's a $7 billion market, and it's projected to be worth $20 billion by 2010." The big players include companies like Japan's Yakult and France's Danone (Dannon in the U.S.), which sell probiotic bacteria in yogurt. Dannon's Activia yogurt was launched in America in 2006 and passed $100 million in sales in its first year...