Word: debts
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...What the CEOs of the Big Three have discovered is a nation suffering Detroit fatigue. Americans may not know squat about collateralized debt obligations, but as a nation we have been defined by car worship. We are angry at our car gods - who for too many years made too many clunkers - because we have owned the Dodge Aries K cars, Mercury Montereys and Chevy Chev-ettes they produced. So the citizens and the pols are irked to have to throw these companies a lifeline, even though they probably should do it for the good of the economy...
...Federal Reserve to supply the loans or requiring the banks that the government is currently bailing out to loan the money to the Big Three. As an alternative, Utah Senator Bob Bennett suggested Thursday that those banks getting money from the Treasury be required to convert any carmaker debt that they hold into equity, thereby easing the Big Three's cash crunch...
...issue [Dec. 1]: One way to fight rising obesity rates would be to tax fat. If I had to pay $10 for every pound I am overweight, I would quickly lose my 25 excess pounds. With a "fat tax," we could pay off our $10 trillion national debt in no time. David Thiessen, Woodstock, Illinois...
...repair those families, and I’m not sure the people directing the bailout see that as their job,” she said in the article. Warren did not return requests for further comment yesterday. She said that flat wages, low savings, and high debt have left American households in financial limbo over the past few years. Warren, who was appointed to the four-member oversight committee by Senate Majority Leader Harry Reid, said that asking the right questions will be crucial to moving the economy out of the crisis. “Our role is to make...
...moment, the CEOs of the Big Three car companies are focused on getting help from Washington sooner rather than later. Later this week, they return to Capitol Hill to make the case for $34 billion in bridge loans to help their companies rebound from staggering debt loads and enormous losses. Having failed to convince Congress last month, Ford's Alan Mulally, General Motors' Rick Wagoner and Chrysler's Robert Nardelli are scheduled to testify this Thursday and Friday to present detailed plans on how the American automobile industry can survive the current economic woes and even thrive into the future...