Word: crediteers
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Faced with a $42 billion loss at RBS and credit markets which appear to become more frozen as each day passes, the U.K. will move its economic rescue package beyond the banks into the system of private debt...
That leaves the U.S. market to make up the difference, and with Obama's election, many renewable energy advocates were confident the country was about to make a solar leap. But the credit market's deep freeze has hit new solar projects just as it has almost every other facet of the economy - the only difference is that many solar manufacturers don't have the cash reserves to ride out a long downturn. That could leave the U.S. shorthanded on solar at the very time when it's finally gotten serious about renewables. "This is still a capital intensive business...
...money: the expanded tax credits for renewables in Obama's stimulus plan. The problem is that credits reduce a company's tax bills, but many renewable energy companies are start-ups that have yet to become profitable - meaning they don't pay enough taxes to benefit from a credit. Until recently, banks like Lehman Brothers bought credits from renewable energy companies and used them to reduce their own tax liabilities - for the good that did. With that market vaporized, Washington can increase tax credits all it wants, but the policy will have little effect. The answer is to make...
...region where Monroe Doctrine is a dirty term. If Obama demonstrates that he's more interested in helping Haiti with green-energy projects like jatropha-seed oil than he is in making Bolivia eradicate more and more coca bushes, or more committed to steering U.S. aid toward micro-credit ventures for Mexican peasants than to building multibillion-dollar border walls to keep them out, it could go a long way toward making Latin America a more pro-yanqui messenger in places like the Arab world, where the foreign policy stakes are higher. "He's promised a historic change," says Saab...
...broader, potentially trillion-dollar stimulus plan, but it's one that Oberstar swears has the best shot of fixing the economy. "We are facing a worldwide economic, financial meltdown," he says. "And these measures taken so far by Treasury to stabilize the bank system itself, free up credit, are either not working or working so slowly that there is no trust in the credit system. And you need something much bigger. You need to put people to work...