Word: bankses
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The argument over the Treasury Department's use of new TARP funds and other stimuli focused a great deal on putting $500 billion into propping up banks and another $1 trillion into freeing up credit. Some media outlets put the total number closer to $2 trillion. The truth is there...
The Treasury plans got a lot of incoming fire because they assume participation by the private sector in the process of buying assets from banks. Secretary Geithner made a very big mistake by not bringing one of these private investors to the press conference where he presented his plan. Either...
"It's a problem that our regulatory agencies can't find tough prosecutors without ties to the banking industry," said John Coffee, an SEC watcher and a securities-industry law professor at Columbia University. "It's unsettling that the government's revolving door always leads back to banks." In any...
Still, for all the needling - bankers were submitted to three hours of lawmakers' questions - taxpayers got little in the way of detail about how or why the banks blew it. Stevenson insisted the HBOS board "was all over" risk management and "stress-testing." It was external factors, he said, that...
Peru currently produces around 20,000 tons of solid waste daily, according to government statistics. Most of this waste is dumped indiscriminately, ending up in rivers or the Pacific Ocean. A cleanup campaign in late January removed 30 tons of garbage from a 3-mile stretch along the banks of...