Word: bankses
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Part of the president’s decision should be understood as a well-timed political move. The month of January witnessed accumulating reports of multi-million-dollar bonuses, corporate retreats, and profligate spending in corporations either receiving or courting federal bailout money. Then it was confirmed that Wall Street...
The provisions in the president’s pay limit, now confirmed by the Treasury, will only have a limited effect. The government’s restrictions on executive compensation are firm, with opportunities for additional compensation only through the unpalatable option of restricted stock. The total savings to taxpayers...
The general explanation being fed to the public for our current financial crisis also rests on this “ethic of greed.” Money-grubbing banks, so the tale goes, provided loans to homeowners who were clearly ill-equipped to repay them. Somewhere along the line, Wall...
The Treasury Department, in its panic over the collapse of banks on Wall Street, rushed to get TARP out the door - no doubt about it. The government didn't require banks to keep track of the money, report how they were spending it or loan it out to free up...
4. On funds disbursed to banks to motivate them to extend credit to borrowers and communities: "There was no requirement for recipients to monitor their use of the funds, and it has been widely reported that banks have been "hoarding" the money, acquiring other banks, and paying off debt. Treasury...