Word: bottoms
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...Capital cushion: Thanks to the Troubled Asset Relief Program (TARP), Citigroup now has $151 billion in equity, up from $113 billion a year ago. Alas, it will have a $76 billion hit from bad loans. Along with a projected bottom-line loss of $3.5 billion, that drops the bank's capital to $70.5 billion...
...reality, to run the test, you have to guess not just which borrowers will stop paying but also when. Some losses will be covered by profits elsewhere. So the firm's bottom line must be estimated. The variables leave plenty of room for the government to make some banks look better or worse, depending on the assumptions it makes. Not so cut and dried. (Read "25 People to Blame for the Financial Crisis...
Normally in economic cycles, stocks bottom several months before an economic recovery gets underway. Investors' hope for such a turn was surely dampened by the Federal Reserve's new reading on the economy. Details of a meeting of Fed officials in late January reveal that they expect the economy to contract this year as much as 1.3%, a sharp downgrade from their expectation for modest growth in 2009, expressed last fall. The Fed also said that unemployment could reach 9% by the end of the year...
...struggling when even Harvard University, the Lil’ Wayne of higher education, has to make budget cuts. Having seen the pains of these cuts across our campus, Prestige and Mobility decided to put on our investigative “journalist” caps/jumpsuits and get to the bottom of this...
...likely to go away any time soon, and that Illinois' elected representatives will once again be distracted from the pressing business of running the state. "You think it's all over, then we're dumbfounded," said Republican House Leader Tom Cross. "I almost thought we had hit rock bottom with the last two governors, almost like an alcoholic or some other addict hits bottom before gathering himself together to get better, get some discipline and climb out of it. Maybe, hopefully, we've hit it now." After the last couple of days, no one in Illinois is willing to call...