Word: dealing
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BlackRock, though, stressed that it is unlikely that any of those banks would have been willing to make a "deep concession" on price. Nor is it clear that all of the deals, including those with SocGen or UBS, could have been completed. French regulators pressured SocGen and Calyon not to negotiate with AIG. What's more, BlackRock said that investment bank Merrill Lynch, which had recently agreed to be purchased by Bank of America, was not willing to strike a deal. If AIG had then paid off only Merrill's bond insurance in full, the other banks may have balked...
What's more, the deals the banks wanted to strike with AIG would have involved the insurer and the government giving up their right to reclaim the underlying bonds. Some have argued that would have led to a worse deal for AIG. Instead, the Federal Reserve decided to give AIG the money to pay off the CDS contracts in exchange for the soured bonds. As credit markets have rebounded, those investments, most of which were risky mortgage bonds, have risen in value...
...very clear that the New York Fed was preoccupied with looking out for the interests of Wall Street at the expense of Main Street," says California Congressman Darrell Issa, a Republican, who questioned Geithner and others on Wednesday. "Given the circumstances and the fact that they were dealing with taxpayer dollars, the Fed had an obligation to try and secure the best deal possible for the taxpayers and instead brokered a deal that helped the rich get richer and then tried to cover...
...bedbug problem is "miniscule," according to Joe McInerney, president and CEO of the AHLA, if one takes into account the fact that there are 4.4 million rooms in the country. "The only people that are making a big deal of it are the media," he says. McInerney says hotel operators exterminate rooms regularly, not just for bed bugs, but for all kinds of pests. An AHLA bedbug fact sheet recommends that hotels prevent infestations by inspecting rooms daily for evidence of bedbugs in bedding and furniture. Rooms found to have bedbug activity should be put out of service until...
...Still, it won't be that simple. Currently, the U.S. and the Afghan government are offering to deal with those Taliban willing to reconcile with the current political order, and it's not clear that there are going to be many takers. And the Taliban leadership has demands of its own: while Mullah Omar has lately been promising that a Taliban regime would not threaten the security of any other state in the world (translation: no sanctuary for al-Qaeda), he and those around him insist that there can be talks only when Western armies agree to leave Afghanistan...