Word: fed
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Dates: during 2000-2009
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...Fed has passed tens of billions of dollars of loans to banks and brokerages through its emergency lending window. It has lowered interest rates to zero. Treasury has put $25 billion into each of the money center banks. It is now backing over $300 billion in bad assets held by Citigroup (C) through a loss-sharing agreement. Bank of America (BAC) is getting a similar deal. The programs to back bad assets is almost certainly going to spread. (See pictures of TIME's Wall Street covers...
Zoos are hardly the only organizations to be hit hard by U.S. financial straits - administrators from soup kitchens to schools are fighting for pieces of a shrinking fiscal pie. But zoos and aquariums have less flexibility as they cope with budget cuts. Live animals need to be fed and taken care of, no matter the revenue cuts. "You can't cut back on the food an elephant eats," says Jane Ballentine, the director of marketing at the Maryland Zoo, which has been forced to close for four additional weeks this winter. "If something needs to be fed, it's going...
...Fed will step in and do what it did for Bank of America (BAC) as its Merrill Lynch unit posted a $15.3 billion loss in the fourth quarter. Citi will also get a program which will guarantee the value of certain bad assets and keep the bank from failing...
...Americas big banks are being nationalized whether the banks and the Fed want to put it that...
...Sitting on the government's side of the table in the talks with Bank of America are officials from Treasury, the Fed, and the FDIC. The deposit insurance agency does not have to capital to bail out a lot of big banks. It has to worry about work-outs for smaller ones that are failing. The Fed is willing to lend big banks money for a short term. It is not likely to get into the business of trading cash for equity...