Word: dollarization
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Bishop says this means a job-creation tax credit, judged in the context of billion-dollar stimulus plans, is pretty cheap for its results. He says other stimulus ideas can cost as much as $200,000 per job created. A recent study from the Congressional Budget Office found that a job-creation tax credit could be a more efficient way of stimulating the economy than either individual tax credits or infrastructure spending...
Proceeds from soda sales at Qdoba will go to Haiti relief efforts. For the entire month of January, the restaurant will donate one dollar to the International Red Cross for every large soda purchased...
...less than face value. French bank Société Générale, which was AIG's largest CDS counterparty, for instance, according to Blackrock was willing to unwind the bond insurance its had bought from AIG on its lowest quality bonds for 90 cents on the dollar, or for 10% less than what AIG had originally promised to pay. About 30% of the $16.4 billion in CDS contracts that SocGen had bought from AIG were on bonds rated BBB or worse. A 10% discount on those contracts would have saved AIG $475 million...
America is facing a trillion dollar deficit. Our tax dollars have bailed out endless corporations who have flagrantly misused it. We saved the banks, yet they deny us fair lending and take our homes. We sit by and watch million dollar bonuses given away to the very executives that put our economy in peril. We hear about scandals involving AIG, the New York Federal Reserve, Fannie Mae, Freddie Mac, Goldman Sachs, Citigroup, Bank of America—there are too many to list. We listen helplessly to members of congressional oversight panels who condemn them with their voices but continue...
...think it's around the corner. Inflation fears may not be justified by data today, but they can be self-fulfilling tomorrow, and the hawks who harbor them are quite influential on Wall Street. If markets and Chinese bondholders start to lose confidence in the value of the U.S. dollar, that could trigger another panic, regardless of the rationality of their fears. A little inflation might be a good thing, but if jittery markets take a little inflation as a sign that the Fed has gone soft, the result could be a run on the dollar and out-of-control...