Word: crediteers
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...which included packages of subprime home loans failed when mortgage default rates went up and housing prices raced down. That is only partially true. Banks made a tremendous series of ill-advised loans to private equity firms, hedge funds, commercial real estate holders, and the average man with a credit card balance which he cannot pay. (See pictures of the top 10 scared traders...
...When people look back on the near-collapse of the banking system they may say that the Congress and Henry Paulson threw enough money into the path of the oncoming failure of the credit system to slow it down so that the government could properly go through the process of guaranteeing parts of the balance sheets of firms including Citigroup (C) and Bank of America (BAC). The initial TARP may also have provided time for the new Administration to put together its widely hailed bank "stress test" program meant to determine which of the big financial institutions have dysentery...
...also true that the private capital firms which plan to buy toxic assets using taxpayer money were not enticed into the new program based on an illusion. The banking system is still terribly weak and there is almost no one with an in-depth knowledge of the credit market tapestry who does not believe that there are hundreds of billions of Confederate dollars being held in the vaults of the major banks. (See the 25 people to blame for the financial crisis...
...said he hopes to transfer into HDRB next fall, although his plans are not yet certain. “The transfer shouldn’t be that hard,” he said. “Many of the classes I’ve taken will count for concentration credit because they’ve already been offering classes through the department that will count towards HDRB, like ones on stem cell biology.” The Classics Department has yet to make formal efforts to communicate news about the concentration requirement changes, as they are still waiting for official...
...alter or add to the source work in some fundamental way, it isn’t stealing.” Nicholas Blechman diverged in his stance, presenting his reasoning from the point of view of Mannie Garcia, the AP photographer whose photo Fairey used, without giving Garcia credit. “If I’m Mannie Garcia,” Blechman said, “and I wait all day to take the perfect picture of Obama, and then see it all over the place in this poster, I think that’s not right...