Word: creditably
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...appeal tact when a court shot down an SEC effort to make mutual funds appoint independent chairman. On the other hand, certain types of enforcement - like cases against companies that backdated stock options - have flourished under Cox. And now he's a loud supporter of regulating the $58 trillion credit default swap market that helps companies insure against defaults on their debt - but also links financial institutions together in dangerously opaque ways...
...dominoes fell one right after another: the demise of Lehman Brothers tipping into the rushed sale of Merrill Lynch to Bank of America, followed by the federal takeover of AIG. Then, the desperate credit crunch of Wednesday caused the emergency maneuvering by the Federal Reserve and the Treasury on Thursday and Friday...
...released this month. The primary reason is that the region's banks had little need to dabble in high-risk U.S. mortgage investments. With economies roaring at home, they found ample opportunities for profit. "They had a lot better things to do with their money," says Deborah Schuler, group credit officer at Moody's in Singapore. "There is real growth in Asia and they were financing...
...price in bank and finance company failures. In August 1997 Thailand closed 42 finance companies, Indonesia closed 16 banks two months later, and South Korea closed 14 merchant banks in December 1997, according to Merrill Lynch. Others were sold or merged. Those that survived cleaned up their act. Credit analysts are more thoroughly trained and better technology systems allow managers to more carefully assess the risk in their portfolios. As a result, Asia's financial institutions are much more conservative than in the past...
...plausible argument, but the latter rather inconsequential given the RTC precedents of the current bailout. More importantly, the plan designed by Bernanke and Paulson socializes the risk of the most toxic real estate assets, which have been polluting Wall Street balance sheets since the advent of the credit crunch over a year ago. In that way, the $700 billion bailout works just like any social security or welfare scheme, by passing costs on to the shoulders of every American taxpayer. This bailout adds roughly $2,000 to the U.S. national debt per capita, rather than letting markets correct household prices...