Word: crediteers
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...billion credit guarantee for struggling businesses...
...credit, Obama has done little to encourage this frenzy, at least since the election. He's all ironic detachment. Yet somehow that aloofness calls forth more reckless declarations of love from the besotted...
...President-elect rode the rails to his Inauguration, his normally buoyant spirits muted by a passing landscape of shuttered factories and municipalities in default. A quarter of the nation's workforce was unemployed; what remained of its credit system was on life support. By the time Franklin Roosevelt reached Washington on the evening of March 2, local hotels were refusing to accept out-of-state checks. Eleanor Roosevelt wondered how her family would pay its tab at the Mayflower...
...President-elect has been much more forthcoming about his economic agenda than the deliberately opaque F.D.R. As for the outgoing President, George W. Bush has no wish to be the Herbert Hoover of the CNBC generation. Accordingly, his Administration will have spent several hundred billion dollars to unfreeze the credit markets. (Indeed, has anything of late so recalled Roosevelt's devotion to "bold, persistent experimentation" as the frantic improvisations of Hank Paulson...
...they don't provide stimulus if they don't get spent. That's what happened last year to a $168 billion stimulus package that relied on income tax rebates - remember when $168 billion was a big deal? - but foundered when many recipients hoarded the cash or paid down credit-card debt. It turns out that smart personal-finance decisions make for a lousy stimulus...