Word: crediter
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...Much of what Geithner, Treasury Secretary Henry Paulson, Federal Reserve Chief Ben Bernanke and Bair have done so far has been to erect ad hoc pillars in the crisis: guaranteeing money-market funds after a run began on them in October; opening the Fed lending windows wide to keep credit from freezing completely; and intervening to wind down big players with a semblance of order, without which we could have seen a retail panic against a Merrill or Wachovia or AIG. As Treasury Secretary, Geithner will play a large role in erecting the last pillar - regulating risk and leverage...
...Geithner's experience does have its downside. The Administration's attempts to shore up confidence in the stock and credit markets have stumbled, and now even previously rock-solid institutions like Citigroup are in deep trouble. And if Geithner locked horns with Sheila Bair from his perch atop the New York Fed, he'll have to work even more closely with her from the Treasury building on the other side of the White House, as the two will be key players in saving any big banks that fail. They will also control the shape of any mortgage bailout for Americans...
...months, Citigroup has been dogged by concerns about the quality of the loans on its books. Citi was, after all, one of the nation's largest sub-prime lenders, not just to homebuyers but through its credit card division as well. This week, the fears have centered on the quality of its corporate loans, and to a lesser extent its credit card business...
...Next, the government could suspend trading in the credit default swaps on Citigroup's debt. The price of those contracts, which pay out if Citi goes bankrupt, have been rising recently, and that is spooking the stock investors. Without that constant reminder of the increasing chance of Citi going out of business, some observers say the stock would rise...
...press conference last week the leaders of the solar, wind, geothermal and hydropower industries called on Obama and the incoming Congress to look ahead. First, energy leaders asked Obama to immediately adjust the alternative-energy production credit to provide green investors with a cash rebate, rather than a tax reduction. With the economy tanking, simple tax credits - which Congress renewed in October and without which the renewable-energy industry would not survive - aren't the lure they once were for companies looking to invest in new energy projects...