Word: monday
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...Monday morning is never a quiet time for a Main Street bank. At branches of Northern Rock, a British lender, the lines outside extend even further than usual. But it's not exactly welcome business. Savers flooding the Newcastle-based bank on Monday joined the thousands to have withdrawn their cash from Northern Rock in recent days. So far, customers have emptied the bank of around $4 billion, or 8% of its deposit base...
...Shares in the lender plummeted by a third in Monday morning trading (they'd already fallen by a quarter on Friday). But Northern Rock is still unlikely to fold. Britain's Financial Services Authority called the bank's loan book "good quality" in a statement issued jointly with the Bank of England and the U.K. Treasury last week. And though it's not yet clear how big the Bank of England's lifeline is, the central bank's cash means savers' own deposits are safe. "We are a well capitalized, solvent and viable business," Northern Rock CEO Adam Applegarth told...
...rivals Alliance and Leicester and HBoS similarly rely on liquid credit markets, albeit to a degree that's "smaller in magnitude," Collins Stewart's Potter wrote in a research note Friday. But the anxiety's not limited to Britain. Spooked investors dumped shares in Spanish, French and German banks Monday. Northern Rock, in other words, may not be the last financial institution to find itself in a hard place...
Whenever the subject of health care reform comes up on the campaign trail, Hillary Clinton unfailingly offers a joke about how she tried that once before, and has the scars to prove it. The ambitious proposal that she put forward on Monday also shows that she learned a few things as well...
Both ends of Pennsylvania Ave. were waiting to see the reaction of leading conservatives to the nomination Monday. The neo-conservative columnist William Kristol wrote a favorable op-ed online Saturday, but a right-wing Catholic group, Fidelis, voiced serious concerns citing his ruling in the Chinese asylum case and his appeal to the left. Senate Republicans were cautiously optimistic, but still worried. "Conservatives will respond well to Mukasey if conservative leaders point in that direction," one Senate Republican aide said Sunday. But he worried that any uncertainty among conservatives could be deadly. "Hesitation kills," he said, "It will...