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Word: bankses (lookup in dictionary) (lookup stats)
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It's good news that Treasury Secretary Henry Paulson seems to finally be coming around to the idea that the U.S. government needs to help recapitalize our banks and should receive stakes in the banks that it bails out. But more must be done to prevent the crisis from spreading...

Author: /time Magazine | Title: Nobel Laureate: How to Get Out of the Financial Crisis | 10/17/2008 | See Source »

But now the problems are ricocheting back. The bad mortgages are contributing to forcing many European banks into bankruptcy. (We exported not only bad loans but also bad lending and regulatory practices; many of Europe's bad loans are to European borrowers.) And as market participants realized that the fire...

Author: /time Magazine | Title: Nobel Laureate: How to Get Out of the Financial Crisis | 10/17/2008 | See Source »

Even with the new capital provided by the government, banks won't want to, or be able to, lend as much as they did in their reckless past. Homeowners won't want to borrow so much. Savings, which have been near zero, will go up - good for the economy in...

Author: /time Magazine | Title: Nobel Laureate: How to Get Out of the Financial Crisis | 10/17/2008 | See Source »

1. Recapitalize banks. With all the losses, banks have insufficient equity. Banks will have a hard time raising this equity under current circumstances. The government needs to provide equity. In return, it should have voting stakes in the banks it helps. But equity injections also bail out bondholders. Right now...

Author: /time Magazine | Title: Nobel Laureate: How to Get Out of the Financial Crisis | 10/17/2008 | See Source »

It's good news that Treasury Secretary Paulson seems to finally realize that his original proposal of buying what he euphemistically called distressed assets was flawed. That Secretary Paulson took so long to figure this out is worrying. He was so bound by the idea of a free-market solution...

Author: /time Magazine | Title: Nobel Laureate: How to Get Out of the Financial Crisis | 10/17/2008 | See Source »

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