Word: bailouts
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...balance sheets of the country’s ailing financial institutions. The unprecedented government intervention in the market follows a series of financial shocks in recent weeks, including the failure of Lehman Brothers, the government takeover of mortgage giants Fannie Mae and Freddie Mac, and the largest government bailout to date—an $85 billion loan to the American Insurance Group, Inc., an insurance company whose near-collapse some feared would send the financial system into a tailspin. The headline-grabbing failures follow a year-long financial decline, caused by unexpectedly high rates of home loan defaults that tore...
...featured an all-star cast, including Dean of Harvard Business School Jay O. Light, Business School professor and Nobel laureate Robert C. Merton, and Ec 10 professor and textbook author N. Gregory Mankiw. The participants discussed their views on the events that led to the current crisis, the bailout plan making its way through the halls of Congress, and more extensive, permanent resolutions...
...discussed academic critiques of the Treasury’s bailout proposal and alternatives through which the government might help banks recapitalize, but did not indicate which approach he favored...
Even as economists, government officials, and Wall Street executives try to get a handle on how the economic crisis grew so large and so fast, debate has broken out over the bailout plan currently under review by Congress...
...have signed on to a letter—authored by Paola Sapienza at the Kellogg School of Management at Northwestern and Luigi Zingales at the University of Chicago Graduate School of Business—which calls on congressional officials to take more time in considering the provisions of the bailout and expresses concerns about the plan’s fairness, ambiguity, and long-term effects...