Word: coste
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Dates: during 2000-2009
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...company, and Geithner had just orchestrated AIG's most recent handout - its fourth, if you are keeping score, for $30 billion on March 2 - to prevent the teetering insurance giant from going over the cliff and taking the rest of the global financial system with it. AIG had already cost the taxpayers some $170 billion, mostly to repair the damage done by one of its units, AIG Financial Products (AIG FP), which last year alone piled up $40 billion in losses related to its dealings in complex mortgage bond derivatives...
...outrage will pass, and when it does, we're going to have to focus on whether keeping AIG afloat is preventing a sharp recession from becoming a prolonged one. The reason AIG has cost taxpayers $170 billion - and the reason the Obama Administration seemed willing, at least at first, to hold its nose and accede to bonuses for the company's managers - is that it's too big to fail. It's an often heard phrase, but what does it really mean? (See the top 10 financial collapses...
Cheap is getting expensive. The environment for M&A may not be as safe as it was two years ago, but the targets have begun to cost more...
...Future of 3-D Cameron's Avatar, due in December, could be the thing that forces theaters to convert to digital. Spielberg predicts it will be the biggest 3-D live-action film ever. More than a thousand people have worked on it, at a cost in excess of $200 million, and it represents digital filmmaking's bleeding edge. Cameron wrote the treatment for it in 1995 as a way to push his digital-production company to its limits. ("We can't do this," he recalled his crew saying. "We'll die.") He worked for years to build the tools...
...about the coming bonuses on Jan. 15. So why didn't the Secretary of the Treasury, with all the resources of a government department at his command, know about it until Mar. 10, according to a White House time line? If it was simple ineptitude, it has nevertheless cost his boss, the President, considerable political and popular embarrassment. Geithner's job security may lie in the fact that the White House needs someone - anyone - with the right credentials to run the financial ship amid this storm. But adrift in an angry sea, Geithner is increasingly a troubled asset himself...