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Geithner Says Loan Crisis May Wreck Economy, But Has No Solution
10 hours ago ago from 24/7 Wall St.
Treasury Secretary Geithner, who many members of Congress would like to see out of his job, yesterday said that tight credit could derail the nascent economic recovery. “Right now, the real risk we face is that banks are not lending enough and not going to provide the capital that businesses need to grow for the economy to strengthen going forward,” he said in an interview on National Public Radio. Geithner's trouble is that no one in ...
Related contentBanks with political ties got bailouts, study shows | PuppetGov
21 hours ago ago from Puppetgov News and Videos
Financial professionals work in the Goldman Sachs booth on the floor of the New York Stock Exchange, in July 2009. US investment giant Goldman Sachs said all 2009 bonuses for top executives would be in the form of restricted stock instead of cash under a new policy aimed at discouraging excessive risk-taking. (AFP/Getty Images/File/Chris Hondros) By Steve Eder~ Reuters U.S. banks that spent more money on lobbying were more likely to ...
Related contentProperty vets to buy condos, convert to apartments | Reuters
22 hours ago ago from DryerBuzz News, Podcast and NetTV
Boutique investment bank Westwood Capital, veteran apartment building owner and manager Gerald Guterman, and appraiser Jonathan Miller plan to buy $1 billion worth of new condominium buildings from struggling banks and convert them into rental apartments. The venture, Condominium Recovery LLC, would buy whole buildings or large swaths of 50, 100 or 200 units at a time from banks that soon may be forced foreclose on billions of dollars ...
Related contentCountries cannot keep buying US treasuries – China
23 hours ago ago from seeker401
http://www.shanghaidaily.com/article/print.asp?id=423054 IT is getting harder for governments to buy United States Treasuries because the US's shrinking current-account gap is reducing supply of dollars overseas, a Chinese central bank official said yesterday. The comments by Zhu Min, deputy governor of the People's Bank of China, referred to the overall situation globally, not specifically to China, the biggest foreign holder of US ...
Related contentWhy Aren’t Banks Lending? Because They’re Being Rational
2 hours ago ago from The Market Guardian | Monitoring The Financial World
Barry Ritholtz From The Big Picture : President Obama met with a dozen small banks yesterday, urging them to keep lending. He did not have to tell that to this group — about 6500 mostly AAA rated, regional and community banks — who have been happily lending away. Its how they earn their money. The larger banks, on the other hand, are the ones who have cut back lending dramatically. This is especially true of the 10 biggest ...
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Allied Irish Banks to Raise Capital in 2010
7 hours ago ago from Wall Street Journal
BY QUENTIN FOTTRELL DUBLIN--Allied Irish Banks PLC Executive Chairman Dan O'Connor said Wednesday the bank needs to raise more capital within the next year and that the level of capital required will be decided over the next three to six months, while also confirming that it may need more equity from the government if it fails to raise adequate capital through private means. "We're currently exploring a number of ways to bolster our ...
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