Word: efforts
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...ready for the Toxic Asset Loan Factory. TALF, the U.S. government's effort to boost consumer lending, finally launches next week. The program - officially the Term Asset-Backed-Securities Loan Facility - is targeted at restarting the market banks use to fund credit-card, auto and other consumer loans. But some worry TALF could create even more risky bonds that our nation's wobbly financial firms don't want and can't sell - a perverse unintended consequence of a well-intended program...
...heart of the program - and the biggest cause of complaints - is an effort to reignite the process by which most banks get the money they use to make consumer loans. To fund credit-card, auto and education lending, banks typically gather up loans they already have made and pass them off to an investment bank. Wall Street firms then package these into bonds that pay interest based on borrowers' loan payments. Completing the money-recycling loop, investors buy the bonds, and investment banks pass most of that money, minus a fee, back to the lenders. The lenders can then...
Former Secretary of Labor Elaine Chao discussed possible career options with students last night at the Institute of Politics. The event was part of the IOP Internships Program’s effort to allow students to speak to people with careers in politics and public service. The Office of Career Services co-sponsored the event. “I don’t see a lot of immigrants in the public service sector,” said Y. John Mei ’12, pointing to the similarities between his own background and Chao?...
...committees - Ways & Means, Energy & Commerce and Education & Labor - sent a letter to President Obama on Wednesday announcing their intention to work together to draft legislation. The cooperation among committees in both chambers is a break from the 1994 attempt at health-care reform, when committee infighting helped sink that effort. Both chambers have said they intend to see legislation reach the floor before the August recess, though many admit the tougher part will come when the differences between the two versions must be reconciled. "The House bill will be the high-water mark of what we'd like...
...immensely. In this situation there is a unique role that can be played by Japan, given the fact that Japan is similar to China in terms of culture and ethnicity and has a relationship that spans more than 1,000 years. Using this unique position, Japan should make every effort, together with the United States, to persuade and encourage China to move toward democratization...