Word: feds
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Dates: during 2000-2009
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...duck, so I can't really say how it feels, but the process itself is not a sadistic torturous process. When you look at the ducks that have just been fed and the ones about to be fed, there is not a perceptible difference between them. The counter-argument is that ducks are prey animals and are conditioned not to show you if they're suffering. And if you've got a liver that's 10 times its normal size, a duck is going to be uncomfortable. But a duck being uncomfortable in the last days before it's slaughtered...
Since the first, dramatic interventions into the financial system by the Treasury Department and the Federal Reserve during the collapse of Bear Stearns a year ago, Timothy Geithner has based his approach on one underlying theory. The crisis, the former New York Fed president and now Treasury Secretary believes, is the result of the collapse of a shadow banking system that grew over the past 30 years to rival the traditional banking system in size but lacked all four of the safeguards that had been imposed after repeated collapses of the traditional system in the early part of the 20th...
Geithner, his predecessor Hank Paulson, FDIC chief Sheila Bair and Fed Chairman Ben Bernanke have so far used ad hoc powers to erect two of those crucial four pillars. Last fall they introduced Fed-sponsored insurance for money-market deposits, the equivalent of the FDIC insurance that exists for regular bank accounts. At the same time, they opened Fed lending to financial-services companies, making the Fed the lender of last resort for those firms, just as it is for traditional banks. In the past two days, Geithner unveiled the final two safeguards that he, Bernanke and Bair believe will...
...Finally, the nature of assistance and type of recipient make TARP and TALF wholly different programs. Under TARP, the government encouraged and even forced banks to accept financing because their financial position was so precarious it was threatening the stability of the entire market. Conversely, under TALF, the Fed and Treasury are seeking to persuade private investors to purchase assets from banks. Although these private investors were an integral part of the issuance of these instruments in the past, they are not seeking assistance from the government. Instead, they have been presented with an opportunity to invest in an uncertain...
...Tien claims the $6 bribe offered was more than fair, but the officer wanted more to ignore the traffic violation. Words between the two escalated. Insults flew. And then Tien snapped. "I grabbed his neck and pushed hard," he says. "I have never dared challenge the police. I'm fed up with corruption and at that moment I was just so frustrated...