Word: bankses
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That stiff up-front cost has always been the biggest barrier to residential use of solar power. An average set of rooftop panels costs $20,000 to $30,000 and takes 10 to 15 years to produce enough electricity to pay for itself--a deal not unlike asking a new...
I don't know enough about housing or finance to make a judgment about whether the measure President Bush signed this week was a good deal or not. About all you can say is that neither party had much choice. Washington could not let five trillion dollars worth of government...
Early on, it was Bernanke and the Federal Reserve that took the lead, with various measures meant to keep financial markets functioning and banks lending. But as house prices kept dropping, the problem began to shift. It was no longer just that financial institutions were wary of lending, but also...
For banks and thrifts, there are well-defined procedures for dealing with insolvencies through the Federal Deposit Insurance Corp. But much of the financial action in recent years has moved to companies for which there is no such shutdown plan. When Wall Street firm and major mortgage player Bear Stearns...
Paulson says that unlike the situation with Bear Stearns, there was never a moment when the two firms appeared in imminent danger of failure. But he saw far more dire potential consequences than in the case of Bear. "Their securities move like water among all of the financial institutions," he...