Word: bankses
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The Treasury's willingness to eat up toxic mortgage-backed assets stuck on bank balance sheets could help temporarily improve those banks' standing, but there's no certainty it will adequately ease the flow of lending in a market permeated by fear of further failures. In fact, the Federal Reserve...
A number of economic signals suggest as much. Market volatility indices are way up. In addition to economic stagnation reflected in nine consecutive months of job losses, retail sector struggles and a suffering automotive industry, the market is fretting about potential disasters yet to come in the banking arena. European...
Duffie says sky-high rates for default insurance for 10 of the world's most prominent banks, including Morgan Stanley and Goldman Sachs, demonstrate that there is a lot of market concern about the stability of leading financial institutions, even after the Treasury's recent steps. Another piece of evidence...
Even if the $700 billion is spent efficiently on buying up toxic assets, though, it may not be sufficient. The Treasury may yet go back to Congress begging for additional dollars from a new administration if the initial allowance doesn't yield sufficient liquidity. And having fewer junky assets on...
For about 30 minutes on Tuesday, the Dow Jones Industrial Index gained back close to half of yesterday's loss, which included the biggest point drops in more than 20 years for most of the world's major stock indices. But investors could not look past the struggling U.S. financial...