Word: complexed
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...plan has three parts. Most people have focused on the first part, which is run by the reliable Federal Deposit Insurance Corp. (FDIC) and about which Geithner provided the most detail on Monday. It covers not the complex bundled loans that have received much attention in the media but troubled loans, like mortgages that haven't been paid for three months or more. The plan offers very favorable financing for private investors who want to buy them. In an example provided by the Treasury, an investor would pay as little as $6 for a loan that had an original value...
...give. Spreading the regulation of the financial and credit systems around to a number of agencies has meant that one never became terribly powerful. Consequently, Congress could always keep its hand in the game by helping to decide which arms of the government should care for the most complex and, at this point, most troubled part of the system...
Believing that organic, locally farmed ingredients could be fashioned into gourmet feasts free of meat, dairy, eggs or any other animal products, he developed a slew of complex, flavorful dishes for a menu that changes depending on what's in season and incorporates influences from Spain, India, Thailand and elsewhere. With charmoula (North African-style) grilled portobello mushroom, maple-glazed smoked tempeh, various rich curries and inventive salads, he has proven that he can take what die-hard carnivores sarcastically term "rabbit food" and turn it into the kind of meal that lingers long in the memory...
...initial version of the plan Feb. 10, the details were missing, the stock market tanked and his image went with it. To give his plan a chance this time, Geithner had to show private investors they could make money partnering with the government to buy troubled loans, and the complex securities based on them, from the banks. (Read "Plan to Buy Toxic Bank Assets Delayed Again...
First, he highlighted a massive new FDIC program to get the banks to sell troubled mortgages. For all the focus on complex securities based on bad loans, the bad loans themselves pose the greatest threat to banks' balance sheets, according to the Treasury department. Bill Gross, chief investment officer of the massive PIMCO bond firm who has been in conference with the government about participating in the plan, estimates the loans pose up to a $1 trillion problem for the banks, and the new program taps FDIC funds to get investors to buy those loans from the banks. Gross told...