Word: deale
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...simple explanation for this divide is that the Geithner plan - which calls for Treasury, the Federal Reserve and the Federal Deposit Insurance Corporation to finance the bulk of up to $1 trillion in toxic-asset purchases by private investors - is a great deal for the investors and a big risk for the taxpayers. The math calls for the government to take on most of the downside risk while evenly sharing the rewards with hedge funds, money managers and other buyers. In the loan-buying program, private investors would put up 7% of the capital for a shot at close...
...awards on the prior year's tax returns. But this time Shorb is also trying to project many applicant families' income for 2009, which, given the volatility of the economy, is anyone's guess. He's leaving his calendar open every day in April to deal with further appeals from students whose family finances are casualties of the recession. "In other years, there have been changes in circumstances," Shorb says. "But not to this magnitude." (See the worst business deals...
...next new America that hatches will not be some bizarro world opposite of everything that came just before. History proceeds dialectically. The New Deal era ended, but its basic social and economic underpinnings have endured. Notwithstanding the backlash against the 1960s, the changes born of that decade's sharp left turn - civil rights, feminism, gay rights, environmentalism, sex, drugs, rock 'n' roll - became part of the American way of life. In the same way, even as we now rediscover the need for sensible regulation and systemic fairness, the fundamentally good lessons of the Reagan age - entrepreneurialism mostly unbound, proud Americanism...
Even as Baucus works to bring Republicans on board, he will also have to deal with some of his fellow Democrats who are pushing to include health-care legislation in budget "reconciliation" - an aggressive maneuver that would mean it requires only 51 votes to pass the Senate, rather than the 60 it takes to overcome a filibuster under the normal rules. "If it's partisan, the minority party can find all kinds of ways to throw sand in the gears, and outside groups will start to mobilize," he warns. "My view is, we can get more than 60 votes...
...provision would allow for anything, including energy, to be pushed through the Senate with just a simple majority rather than a filibuster-proof 60 votes. Several moderate Democratic Senators, including Ben Nelson of Nebraska, have said that inclusion of reconciliation instructions in the final bill would be a deal breaker for them. "Reconciliation is not where we'd like to start, but we are not willing to take it off the table," Orszag said...