Word: deal
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...originally hoped that a deal could be reached by Oct. 31, but now that appears in doubt, sources said. While they have publicly shown a united front, Bair has locked horns repeatedly with officials at Treasury and the Federal Reserve during the scramble to deal with the financial crisis over the past year. In previous talks to expand the responsibilities of the FDIC, critics accused Bair of being more concerned with protecting her agency than halting panic in the system. Bair responded by saying FDIC insurance for everyday Americans was too important to put at risk without sufficient guarantees...
...final hitch may be the perennial problem of who gets credit for the plan once it is agreed on. Several sources stressed that the deal's rollout, whenever it occurs, would come from the White House, not the agencies who were negotiating the details...
...Federal Reserve announced Wednesday afternoon that it was lowering its target short-term interest rate to 1%. Big deal. Almost everybody was already expecting the half-point rate cut that the Fed delivered, and the actual federal-funds rate (as opposed to the target rate) has mostly been below 1% for the past three weeks anyway. The stock market's reaction? A yawn, as the Dow closed down 74 points...
General Motors Corp. is pressing the Bush Administration for more than $10 billion in immediate government assistance, which would help shore up its tattered balance sheet and provide the cash required for a takeover of ailing Chrysler. The two companies are already close to a deal that would put GM in control of Chrysler. That would leave Chrysler boss Robert Nardelli, brought in to save the company, out of a job. "We can acknowledge that we have been in contact with a variety of federal officials for some time during this extraordinary and difficult economic period," said GM spokesman...
...annualized return of 28.5 percent over the past 10 years. This return has been lower in more recent years, though, coming in at 9.3 percent in fiscal year 2008, and the current economic distress may further drive down investment opportunities in the sector. But Primack said that the deal, which would be one of the biggest private equity sales ever by an endowment, might not go through because HMC’s position is still comfortable enough that it would not have to accept a sale at a less-than-favorable price. “No one?...