Word: explained
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Dates: during 2000-2009
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...Bailing Out the Bailed Out Keeping the financial system fluid might explain why so many banks got paid in full, which strikes some as a scandal way bigger than the bonus payouts. Many experts wondered why AIG paid 100 cents on the dollar. Among the biggest beneficiaries of the AIG pass-through, at $12.9 billion, was Goldman Sachs, the investment-banking house that has been the single largest supplier of financial talent to the government. Critics have been quick to note - and not favorably - the almost uncanny influence of former Goldman executives. Initial phases of the rescue were orchestrated...
...lawmakers who may soon write new legislation to regulate it. But he has not been a strong public face for a government that needs to project confidence. He has been slow to staff his department, hampering the Administration's ability to react to the crisis - and possibly helping explain Treasury's leaden-footed reaction to the AIG bonuses, which were first reported in January. A former Treasury official blames Geithner for a "strategic hesitation that has really affected the confidence index, not just in the financial marketplace but in the political marketplace." A veteran Washington Democrat was more direct...
...Which helps explain why, at least for now, Geithner benefits from a rare bipartisan agreement. Republicans have largely been reluctant to scare away a Treasury chief who has roots in the Bush era and understands their benefactors' core businesses; Democrats are even more reluctant to publicly criticize the President's choice at a moment of economic peril. "I have complete confidence in Tim Geithner and my entire economic team," Barack Obama said. "He is making all the right moves in terms of playing a bad hand." Still, a longtime Treasury observer says, "his margin for error has been reduced...
...employees fair and square in outrageous employment packages. No one seems to have disclosed the name of the people who signed the agreements on behalf of AIG, or who approved them in the first place. AIG's clueless CEO, Edward Libby, will go before Congress to try to explain that. (See the top 10 bankruptcies...
...stiff apology is a second insult," G.K. Chesterton argued, and a coerced one already trades at a discount, repentance offered only in exchange for immunity from further prosecution. This winter we got to watch A-Rod explain his doping and Michael Phelps explain that bong and various presidential appointees account for their tax returns and Republican Party chair Michael Steele beg Rush Limbaugh's forgiveness for telling the truth. Even the Pope, who forgives people for a living, has been having trouble: he had to apologize for ever accepting the lame nonapology of an excommunicated bishop who declared that "there...