Word: feds
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Dates: during 2000-2009
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...municipalities, pension funds and other public and private bodies through guaranteed investment contracts and other products that protect participants in 401(k) plans. "We have no choice but to stabilize [it] or else risk enormous impact, not just in the financial system but on the whole U.S. economy," said Fed Chairman Ben Bernanke...
...Last September, with global stock markets collapsing and credit markets frozen, Geithner, then head of the New York Fed, and Bernanke believed AIG was too close to collapse to do anything other than stop the bleeding. Failure by AIG to pay might have threatened its counterparties - for instance, Citigroup and, in turn, Citi's counterparties. A bond or a derivative is, after all, a promise to pay someone, and if there is no confidence in its fulfillment, the financial system ceases to function. It is not a fear that has gone away simply because AIG has been stabilized...
...executives. Initial phases of the rescue were orchestrated by ex-Goldman chairman Hank Paulson, who was recruited as Treasury Secretary in part by former White House chief of staff and Goldman senior exec Josh Bolten. Goldman's current boss, Lloyd Blankfein, was invited to participate in meetings with the Fed. AIG's Liddy is a former Goldman director and an ex-CEO of Allstate. Another alum, Mark Patterson, once a Goldman lobbyist, serves as chief of staff at the Treasury, while Neel Kashkari, who runs TARP, was a Goldman vice president...
...Fed is planning to put another several hundred billion dollars into buying up debt to help bring down interest rates. Nearly $300 billion of that will go to buying longer term Treasuries. If that causes interest rates to fall, it will help people who borrow money in the future, but may not do very much for Citi's clients who borrowed money over the last two years. Many of those clients are tapped out, and the big bank faces hundreds of millions, possibly billions, of dollars in write-down of consumer loans. That does not take into account the amounts...
...many western journalists saw scant sign of the Golden Shield, as the Internet was kept largely unfettered during the games. Restrictions have tightened again, however, especially since December, when democracy supporters used the Internet to circulate the "Charter 08" petition challenging the government. That crackdown, in part, has fed the grass-mud horse craze and similar online double entendres designed to flout the government's role as Big Brother. As one Chinese blogger told the Times, even with the most modern technology trying to hold them back, people will find a way to express themselves. "It is like a water...