Volume 7 / Issue 4
July/August 2008
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Five Weeks that Rocked the Street
Please see our pdf of this file for better resolution of the chart. Taxpayers' Exposure from the Credit Crisis: Over $1 Trillion and Climbing
How Much is $700B? $700 billion is equal to about 12 Bill Gateses and 14 Warren Buffets. 700 billion dollar bills stacked one on top of the other would form a pile 52,000 miles high. If we laid $100 dollar bills end to end we could circle the globe 27 times with $700 billion. The bailout is equal to roughly $2,300 per person. That’s right around what we each paid, on average, for gas and oil in 2006 ($2,227). Roughly $100 billion more than we’ve spent so far on the Iraq war. 12 times what the U.S. spends on education every year. It is more than $100 for every person in the world. A dump truck full of sand has 1,000,000,000 grains of sand. 700 dumptrucks of sand would hold 700 billion grains. If you could go back in time 700 billion seconds, it would be 22,000 years ago: You would be a hunter gatherer, trying to survive the ice age.
New Studies Available 2008 US Mobile Banking Benchmark Study: Mobile Access, Features, and Security - What Banks Are Offering Now, May 2008, Javelin Strategy & Research. Review of 135 financial institutions mobile banking offerings and suggests ways to increase consumer demand and improve existing programs. North American Bank IT Spending in 2008, September 2008, Forrester. Highlights increased spending on IT, and suggests bank have become heavily dependent on technology to grow and retain client base as well as manage risk. The Four E’s of Green Banking: Educate, Enable, Make it Easy - and Be Earnest, June 2008, Javelin Strategy & Research. Suggests that green banking hasn’t caught on due to a lack of both consumer awareness and customer incentives. Mortgage Industry Outlook 2009: A Whole New Industry, September 2008, SMR Research. Reports on company and industry results from the first half of 2008 (revised to capture current events). |
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