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...which would then allow well-capitalized banks to loosen the strings of lending. Nationalization? Not quite. Under such a plan, the U.S. would become a shareholder in banks, taking stock in exchange for the capital injection. The government would essentially become a passive investor. It wouldn't take any board seats, and it wouldn't actively seek to influence how the banks were being run. It doesn't have to; Treasury has regulatory control over the banking system anyway. Harvey has proposed that the government set up an investment vehicle similar to the Resolution Trust Corporation that rode...
...several of these banks began taking greater liberties with depositors' money, sinking it into risky real estate ventures and junk bonds in an effort to reap maximum profits. Fearful about the future of the vast amounts of federally-insured money being invested, the Federal Home Loan Bank Board (FHLBB) instituted a cap on the amount of money S&L's were allowed to place in such volatile instruments. An investigation into Lincoln Savings and Loan uncovered flagrant violations of these regulations, exceeding the limit by over $615 million...
...Beyond the immediate economic impact, there are already signs that this meltdown will have longer-term repercussions. One is that policymakers everywhere will have to go back to the drawing board to figure out a more effective system of financial-crisis management. "Governments are making the same mistake over and over again. They're trying to deal with the crisis on a piecemeal basis," says Dennis J. Snower, president of Germany's Kiel Institute for the World Economy. He advocates a far more ambitious solution, including the creation of a new international agency that can act as a lender...
...This fellow has made his success as the founder of consulting company EchoDitto. He is also a member of the board for the Lower East Side Girl’s Club, a group which teaches girls confidence...
...scheme must restrict executive pay and dividends to other shareholders. The voluntary nature of the scheme is also problematic, says a City fund manager based at an Asian-owned bank. "It would have removed more uncertainty if the government had just applied the plan to the banks across the board," she says. "Now we have to worry about which banks might need to participate, which managements will admit this, and how damaging it will be to admit needing...