Word: bankes
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...even that wasn't enough. Next month, the Irish government is set to formalize a highly controversial bailout plan in which a National Asset Management Agency (NAMA) would be created to remove the unpaid, property-linked debts from the banks' balance sheets. If approved by Parliament, which appears increasingly likely, NAMA would spend some $81 billion of taxpayer money to buy loans worth an estimated $70.5 billion at current market value. The so-called bad bank, as NAMA is sometimes called, will then manage the loans on behalf of the state for the next decade, by which time, the government...
...recent incident was in December 2008, when the agencies feuded over a Woodburn, Ore., bombing in which a device outside a bank killed a local bomb technician and a police chief. In June 2007, agents fought in front of state and local bomb-squad personnel at a blast site in the Mojave Desert. The ATF claimed it was notified too late for agents to work the scene, while the FBI claimed that ATF responded late, then wanted to take over the scene. Other recent incidents took place in Baltimore, Phoenix, New York City and San Diego...
...Monday e-mail to the University community, Faust urged students, faculty, and staff to participate in service activities such as volunteering at the Greater Boston Food Bank.“Harvard students do so much with public service,” said Amanda S. Glynn, coordinator of the Center for Public Interest Careers. “To be able to shine a spotlight on that, to have that validation of public interest careers from the president of Harvard, is very exciting...
...Virginia Tech mass shooting. In his latest high-profile role, as the Obama-appointed executive-pay czar, Feinberg announced Oct. 21 that the Treasury Department will slash compensation for the 25 highest-paid executives at the seven firms that received the largest chunks of federal bailout money: Citigroup, Bank of America, AIG, General Motors, Chrysler and the financing arms of the two automakers. Salaries are expected to shrink 50% on average, with the majority falling below $500,000, though firms that have already repaid their bailout debts, like JPMorgan Chase and Morgan Stanley, are not affected by the change...
...among the world's biggest savers, in part because of the lack of good public systems for retirement pensions and health insurance. "Most economists think they've overdone investment and underdone consumption and spending for social welfare," says Stephen Green, the Shanghai-based head of research for Standard Chartered Bank. "There will be a price to pay. No one knows how big that will be. The bet is they'll grow through it. That's the bet they're taking...