Word: bankses
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Instead, they are now actively pushing an alternative proposal floated by Congressman Eric Cantor of Virginia that would force Wall Street to pony up some cash at the outset. Rather than buying all those troubled mortgage assets from ailing banks and investment firms, Republicans say, the government should instead insure...
But while the Bush Administration bailout plan does require an unprecedented outlay of taxpayer funds, White House officials say the cost of a crippled economy would be an even greater burden on average Americans. Treasury Secretary Henry Paulson believes that while the House Republican proposal would help moderate the current...
“But I don’t think that banks will issue more equity without prodding from the government,” Scharfstein said.
But all these reforms would involve massive up-front costs, and the current crisis seems to mean that there will be less money available for the next President to invest. If you say, "Well, let's borrow some," you run into the very problem that underlies the financial meltdown in...
As far back as the penny-saving Ben Franklin and the conquistadores chasing their dreams of golden cities, this has been a country of mixed minds about how to get rich. We extol the conservative Warren Buffett model: selling 4 cent Cokes for a nickel and conscientiously saving the proceeds...