Restoring Confidence In Europe’s Banks

June 25, 2010

The financial crisis that gripped the world in late 2008 was, most of all, a crisis of confidence. What we knew about the condition of America’s biggest financial institutions was bad enough, but what we didn’t know was terrifying. This is why the “stress tests” that financial regulators publicly performed on 19 of the country’s largest financial firms last year were so helpful. In some cases the news was good, …

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Pent-Up Consumer Demand Meets ‘Zombie Stores’

November 2, 2009

On a trip to Vermont over Columbus Day weekend, I stopped at my favorite local diner for their signature Cajun Skillet breakfast of sausage, peppers, onions, Cajun spices, and home fries with two eggs on top and one Zantac (my special addition). But they weren’t making the Cajun Skillet that afternoon; they had run out of spices. The homemade chicken soup was also finished, or “86ed” as they called it. …

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