Word: bailouts
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...Paulson was responding to criticism that the rate freeze is a bailout for the irresponsible - borrowers and lenders alike. "In the normal case this is how markets work," he said. "There are workouts, and there are modifications...
...Financial-services companies starving for cash during the subprime-credit crises, where bailout money comes from is less important than the fact that it's available at all. Just ask investors in Citigroup. The global banking giant has reported billions of dollars of subprime losses, raising concerns that some of Citigroup's assets might have to be sold off at fire-sale prices just to keep the company sufficiently capitalized. But on Nov. 26, New York-based Citi was handed a lifeline by an unlikely rescuer. The Abu Dhabi Investment Authority, a $625 billion sovereign wealth fund...
This is the boldest move yet from an Administration that had been tentative in its response to the mortgage crisis, and the plan has drawn fire from two directions. Free-market types say it's a bailout for the irresponsible, while nonprofit groups that work with borrowers fear it won't help many people. Meanwhile, Paulson's past as chief executive of Goldman Sachs--he retired in July 2006 to go to Treasury--is becoming a political issue. Goldman was a big player in the business of packaging subprime mortgages for sale to investors. Now Senate Banking Committee chairman Chris...
...bank or force it into bankruptcy, stripping shareholders of their investment. Either resolution would further embarrass a government still reeling from criticism of its handling of the early stages of the crisis. In September, nervous pensioners withdrew $4.14 billion in less than a week despite the government's extravagant bailout package, and reassurances from the Prime Minister that the bank was solvent. Eventually, only Chancellor of the Exchequer Alistair Darling's statement that the government would guarantee all deposits at the bank stopped...
...shoot free throws. Third on Lin, makes both, 61-57. Can the Crimson (aka Lin-Housman show keep it up). 6:23: ONE POINT GAME!! Pusar nails the three on the corner on assist from Li, 61-60. 6:11: Good help D from Pusar, but Magnerelli with bailout foul. Cunningham can't shoot throws, so, he make one of two, 62-60. 5:55: Boys and girls, we have a tie game! And 1! Magnerelli takes it strong to the basket, shooting one for the lead. Misses. Tied 62-62. 5:30: Clifford taking over, layup down...