Word: creditably
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...American economy should be so lucky. Buried among the Fed's most recent comments on the economy were concerns about the financial and credit markets as well as employment and spending. Since the minutes are distilled before being sent out to be reviewed by an anxious public, the actual concerns among the Fed governors has probably been significantly understated. (See pictures of the Top 10 scared traders...
...case of BVG, the insurance was provided by Hypo-Vereinsbank, the Landesbank Berlin (LBB) and Credit Suisse. The LBB was privatized in 2007. Expecting that LBB would be downgraded by ratings agencies, BVG was planning to insure its assets through another state-owned bank in Germany, the Landesbank Baden-Wuerttemberg. But city officials say BVG's advisor, J.P. Morgan, suggested the transit company spread the risk by insuring the deal through a collateralized debt obligation, or CDO, backed by a consortium of some 150 banks and insurers that included AIG and Lehman Brothers...
...Frankfurt GmbH, a company that operates Frankfurt's convention center, leased its exhibition halls to an American investor for 99 years and signed a deal to rent it back for 28 years. The Messe would not disclose any details of the deal or say whether AIG is providing its credit insurance...
...cities are appealing to the German government to bail them out. In March, a group of municipal authorities appealed to the Kreditanstalt für Wiederaufbau, or KfW, Germany's Marshall Fund-era state-owned bank for reconstruction and development, to buy out AIG and replace it as their credit insurer. The plan might work, but KfW is reluctant. "We are looking into the matter," a KfW spokeswoman says...
...round of the Federal Reserve's attempt to restart the nonbank consumer-lending market, the so-called TALF program, went even worse than the faltering first round did last month. The poor performance is causing some Fed officials to doubt the entire premise of the effort to restart nonbank credit markets. "We know there are people out there interested in putting subscriptions together," says a Fed official, "but the larger question is, Where is the market [for them...