Mexico's State of War

February 20, 2009

What I remember most about my return to Mexico last year are the narcomantas. At least that’s what everyone called them: “drug banners.” Perhaps a dozen feet long and several feet high, they were hung in parks and plazas around Monterrey. Their messages were hand-painted in black block letters. They all said virtually the same […]

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Schumer: Failed Banks Should be Nationalized

February 20, 2009

Sen. Charles Schumer (D-N.Y.) believes that failed “zombie” banks, no matter what their size, should be taken over by the government, which should then wipe out shareholders, fire management, clean up the banks and quickly resell them into the marketplace. Such a move, he cautioned, should come only if the “stress tests” being conducted by […]

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The End of Starbucks

February 20, 2009

Sixty percent of Americans have cut back on their luxury coffee purchases, and the Seattle goliath is paying the price. By entering the instant coffee market this week, Starbucks says goodbye to any delusions of grandeur as a house of refined coffee, cementing themselves as a brand whose best days are in the past. They’re the caffeinated supply equivalent of an aging McMansion, an ugly suburban relic of the technology boom.

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Crisis of Credit Visualized

February 20, 2009

The Crisis of Credit, visualized in simple form.

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Hillary's Reluctant Welcome

February 20, 2009

China, where the new secretary of State arrives today, is one of the few countries that actually preferred George W. Bush. Leslie H. Gelb on what she’ll say behind closed doors.

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Gramm: Loose Money, Politicized Mortgages to Blame

February 20, 2009

The debate about the cause of the current crisis in our financial markets is important because the reforms implemented by Congress will be profoundly affected by what people believe caused the crisis.

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Fewer Green Jobs in StimPack Than Touted

February 20, 2009

President Obama’s economic stimulus program might be considered green, but it’s still got a big streak of gray. The $785 billion spending bill that Obama signed Tuesday, shortly after he toured the sparkling solar-paneled roof of the Denver Museum, will save or create 3.5 million jobs over the next two years, according to the White […]

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GOP Split on StimPack Dollars: Jindal, Crist Face Off on MTP

February 20, 2009

Two rising forces in the Republican Party face off against one another on NBC’s Meet the Press this weekend about the newly passed federal stimulus bill.

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DC Thrives as NYC Dies?

February 20, 2009

Look out, New York. Washington is gaining on you. As the nation’s most populous metro area feels Wall Street’s pain, the fourth-largest—Washington—is barely sensing the recession. In fact, Moody’s Economy.com estimates that metro Washington’s economy will actually grow 2.5% from mid-2008 through mid-2010. New York’s economy is expected to shrink 4.2%.

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Dow Hits 6 Year Low

February 20, 2009

President Obama has said that turning the economy around will not be easy, or quick — and it appears Wall Street agrees. The Dow Jones Industrial Average lost nearly 90 points today and 800 points, or 9.7 percent, in the 10 days since the Obama administration announced major reforms to stimulate the economy, keep banks […]

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