Word: banking
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...deal with the crisis on a piecemeal basis," says Dennis J. Snower, president of Germany's Kiel Institute for the World Economy. He advocates a far more ambitious solution, including the creation of a new international agency that can act as a lender of last resort to stricken banks. In Washington, Robert B. Zoellick, president of the World Bank, concurs that only a multinational solution can really work. "While American eyes are on the intersection of Wall and Main streets, there is much more to the story," he says. "The response to these crises will have to be larger...
Thanks, but no, I don’t want to “BBM” you. And if it feels like what it sounds like, I don’t want you doing it to me either. The only pin number I have goes to my bank account, so I’ll be keeping that to myself...
...Many argue that the nuclear deal is necessary in order to provide India with a carbon-free way to feed its enormous and growing demand for energy. But this does not excuse the fact that in adopting the treaty, the United States has effectively given away the bank. Indeed, numerous non-proliferation experts have criticized the deal both because it lacks safeguards, and because its very adoption undermines the international anti-proliferation framework by giving India an unprecedented exemption...
Dozens of protestors from local environmental and political activist groups lined up in front of the Bank of America in Harvard Square yesterday to protest the company’s purportedly risky investment practices that threaten financial and environmental stability. The public rally, during which participants chanted slogans such as “Money for jobs and education, not for wars and corporations,” attracted a gathering of students, musicians and other impassioned demonstrators. The protest—spearheaded by Rising Tide Boston, a local climate activism group, and Rainforest Action Network, a national organization?...
...revenue, including parents willing to pay tuition through the nose amid all kinds of money trouble, have often kept these institutions insulated from economic downturns. But in a financial crisis of this magnitude, even the ivory towers are getting hit - and in more ways than one. Not only have Bank of America, Citigroup and some two dozen other lenders cut back on or stopped issuing student loans, but the market meltdown has left many colleges scrambling to come up enough cash to cover payroll and other near-term necessities...