Finance counsels

Setting up a ‘bad bank’ to absorb toxic assets of troubled U.S. lenders — a move the Obama administration is debating — would be an error on political and financial grounds, billionaire financier George Soros said.
The process would lead to difficulties in valuing toxic securities and generate covert subsidies for affected banks, generating “tremendous […]

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China has just ushered in the Year of the Ox, which is typically associated in the lunar calendar with calm, fortitude and success through toil.
That’s just as well, for China and the United States will need great calm and fortitude if they are to repair through hard work the damage done by new U.S. […]

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