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...letting Obama's Treasury Secretary have access to the $350 billion still left from the money that was allocated for the TARP, a great deal of it may be going right back out to banks. The forecast now is that Citigroup (C) could lose $10 billion this quarter. A look at what is happening to consumer credit, LBOs, and the alarming increase in corporate bankruptcies means that Citi may need more than one injection of capital this year. The same holds true for Bank of America and a number of other financial firms which have not yet telegraphed their...
...asserts that only more developed property rights, transparency and democracy will allow China to move to the next stage of economic development - but he does so almost in passing and one longs for more substance on these points. Thankfully, his rearview vision is far more fleshed out. As a look at China's entrepreneurial economy in the 1980s and 1990s - and as a counterpoint to the common misconception that China is steadily evolving into a more market-oriented economy - this book is unparalleled...
Geithner, by contrast, always looks freshly pressed, even dapper. He admits he didn't care about economics during his undergraduate days at Dartmouth. "I think I took one course," he says. It is easy, given his relatively young age and his background, to view Geithner as the perpetual understudy to Summers' intellectual alpha dog. But friends of both say that oversimplifies their relationship. "Tim is whip-smart and has never hesitated to disagree with Larry on substantive issues if he felt Larry was wrong," says a former Treasury colleague of theirs. Geithner, moreover, has far better political fingertips...
...countries and 16 territories, labeling each either "Free" (possessing political competition and respect for civil liberties and an independent media), "Partly Free" (limited political and civil rights, often afflicted by corruption and various forms of strife, or "Not Free" (totalitarian, lacking basic rights or liberties). (See TIME's look at the voting machines of America...
...know that "The Comoros' political rights rating improved from 4 to 3 due to the restoration of legitimate government to Anjouan, one of the country's constituent islands?" Do you know where Comoros is? Well, read the report, then. Freedom House offers a quick and informative look at the world without much editorializing or preaching...