Word: bailouts
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...Edward Liddy was a model of fiscal discipline. Appearing before Congress last month, he committed the bailout billionaire to pay back its government loans, clean up the financial mess it created and act as "good stewards of the public funds we have received...
...every month on four big p.r. firms? Spokesman Nick Ashooh said his in-house communications team needs additional mouthpieces to respond to the "tsunami" of bad news from its collapse last September, including a lavish executive junket and hefty bonuses covered by the $180 billion taxpayer transfusion. (Read "The Bailout Bomb...
...members of Congress who are overseeing the bailout funds question what spin doctors have to do with Liddy's stated mission. Representative Elijah E. Cummings, a Democrat on the House Oversight Committee that has investigated AIG, called the firm's p.r. payroll "a prime example of AIG misusing funds. Mr. Liddy should know, however, that all of the p.r. firms in the world will not distract us from getting to the bottom of what is really going on at AIG and how the company is spending taxpayer dollars...
...which boosts business for Economy.com On a recent Thursday in Washington, Zandi spent the first part of the morning presenting his outlook for the U.S. economy to a crowd of Moody's clients. Standing at a lectern under fluorescent lights, blinking behind his oval spectacles, he said the bank-bailout plan introduced by Treasury Secretary Timothy Geithner to encourage private investors to buy banks' toxic mortgage assets is a "reasonably good idea" that he thought would work. (Zandi says he would have preferred that the government buy the toxic debt so taxpayers could realize all the upside once the economy...
...Budapest) have become unpayable. Macroeconomically, the state has faced a similar constraint: Therefore, the World Bank, the EU, and—most notably—the IMF have agreed to provide funding to avoid disaster. On Thursday, it was announced the country would receive over $25 billion of international bailout funds to last through the year. As David Hechlam, a director of the rating agency Fitch, commented: “They could probably get access to the markets, but the price they would have to pay would be very high”—given the situation, prohibitively high...