Word: convert
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...nation's biggest banks, the U.S. Treasury is providing capital infusions and now a detailed stress test. Also, Citigroup announced on Friday the outline of a deal with Treasury to convert the government's holding of Citi preferred stock into common shares. The U.S. Treasury could end up owning more than 36% of the ailing bank. But confidence in the financial community remains low. Describing a vicious cycle of risk aversion, former Fed chief and current Obama adviser Paul Volcker told Congress's joint economic committee on Thursday that "an insecure bank faced with what it sees as insecure borrowers...
...middle age, but U2 has steadily softened its ambition during its 30-year existence, and that's not such a bad thing. Early on, Bono sang with a moral force that suggested Cotton Mather with a mullet; not satisfied to rock you on "Sunday Bloody Sunday," he needed to convert you. In the towering period that spanned The Joshua Tree to Zooropa, U2 made stadium-size art rock with huge melodies that allowed Bono to throw his arms around the world while bending its ear about social justice. After 1997's Pop - a disastrous mix of disco and hubris that...
...some of those units. "But most of those homes will never be available to the people we serve," insists Lloyd Boggio, a Miami developer and chairman of the Florida Coalition of Affordable Housing Providers. Some communities are using federal Neighborhood Stabilization Program funds to buy up foreclosed homes and convert them into rental units, but they say it's hardly enough to fill the large gap. (See a video on facing foreclosure in Tampa...
...questions involve what happens to everybody in between. The various federal banking agencies on Monday announced the procedures by which they will convert preferred shares to common stock at troubled banks, and later this week they will begin the promised "stress tests" of the assets of the country's 20 biggest banks. But nobody knows yet how tough those tests will be - and to be honest, nobody knows how tough they should...
...struggled to get into a groove,” Marley said. “They pressured me on the inside, it was tough but we need to play harder on the boards.”Harvard also out-rebounded Penn, 40-28, but was able to convert on their rebounding efforts.By the end of the weekend, Harvard found a system that worked after a catastrophic start in the form of a 22-point first half deficit. The Crimson showed its resilience, as it moves to close out the regular season.—Staff writer Evan Kendall can be reached...