Word: assets
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...idea of clamping down on executive pay before a firm is allowed to take part in the proposed $700 billion toxic-asset bailout program seems eminently reasonable. After all, we're talking about the very well-compensated execs - hello, eight figures - who ran the firms that drove the demand for the securities that caused the problems in the first place...
...natural right, or at least a natural state to which we must return as soon as possible. Getting prices "moving again"--which means moving higher--is one all-but-explicit goal of the Paulson bailout. If house prices head back up, fewer mortgages will exceed the value of the asset that backs them up, foreclosures will drop, and bankers will be willing to lend again. More generally, in a nation of homeowners, people will get back that cozy feeling that they are getting richer without lifting a finger. "Confidence"--today's great missing ingredient--will be restored. The crisis will...
...this plan goes through, there's a lot more work to be done after that, figuring out how to do the asset sales. But also, figuring out how to fix the system so this doesn't happen again. Those two are going to be here after January...
...institutions that make their living off borrowed money (banks, investment banks, hedge funds) tend to want to reduce their leverage - their ratio of debt to equity. That's perfectly rational. But when everybody does it at the same time, big trouble ensues. "[N]ot all leveraged lenders can shed assets and the associated debt at the same time without driving down asset prices, which has the paradoxical impact of increasing leverage by driving down lenders' net worth." Basically, if all lenders de-leverage at once, the financial system implodes - and everybody, not just the bankers, suffers...
...expected to slow over the next 12 months, the region's financial systems and economies are still fundamentally sound, analysts say. Banks in Asia haven't experienced the dangerous losses on property and mortgages that are devastating their U.S. counterparts. To some, like Hugh Young, managing director at Aberdeen Asset Management Asia in Singapore, the sell-off is providing a buying opportunity. Young's been trolling the markets for solid blue chips and conservative banks with strong balance sheets. "Now's the time to be buying - slowly," he says. "If people are selling because they need the cash, that...