Word: ramirez
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Crazy for Art. Following its popular 2007 retrospective of self-taught 20th-century artist Martin Ramirez - who produced the bulk of his work while he was a mental patient at the DeWitt State Hospital in Auburn, Calif. - New York City's American Folk Art Museum is now showing 25 newly discovered Ramirez works. These drawings and collages, of horseback riders, trains, landscapes, Madonnas and animals, were done in Ramirez's last years, 1960-63, and collected by a doctor who provided the artist with art supplies. See Martin Ramirez: The Last Words through Apr. 12, 2009. 45 West 53rd Street...
...extra liquidity for banks and government guarantees for their debt - has inspired similar rescue packages across Europe. Still, one model won't fit all. "Some countries consider they don't have an insolvency problem, and are focusing more on providing guarantees to improve liquidity in the markets," says Antonio Ramirez, banking analyst at Keefe, Bruyette & Woods in London. (On Monday, for instance, Spain said it would guarantee new bank debt until the end of 2009.) But "the problems in terms of capital requirements of U.K. banks seem to be much higher than what they eventually could be in other countries...
...Emmanuel Ramirez, a graduate student studying comparative literature, said that he agreed with Sing’s position...
...billion dollar losses and complex financial assets, Santander's fortunes speak to the advantages of a simpler approach. Spain's largest bank "lends to their clients, takes deposits from their clients, and runs a network of branches," says Antonio Ramirez, analyst at investment bank Keefe, Bruyette & Woods in London. "It's quite simple, quite traditional." Focused on retail banking, with limited investment banking operations, and with a long-buoyant domestic market to lean on, Santander side-stepped the toxic assets caught up in the collapse of the U.S. sub-prime mortgage market. Enjoying "good growth at home, they were never...
...here too, Spain's regulators have encouraged sensible behavior. For years, banks have been required to put aside cash to cover expected future losses, not actual ones. The Bank of Spain "thought that in the good times it makes sense to build a cushion for the bad times," says Ramirez. So while Spain enters a downturn "a significant portion of the potential deterioration [for banks] will be covered by these provisions." There are no guarantees, of course, for Santander or anyone else, in today's parlous international environment. But for now, at least, Spain offers a lesson in prudence through...