Word: feds
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...Rather than bailing out Wall Street, we propose that the government should buy up the actual mortgages in question and do nothing else. The government should not touch any derivatives; that is, claims that do not directly tie into the actual mortgages. If money becomes too tight, then the Fed can certainly increase its loans to financial institutions...
...asking Congress 11 days ago for the authority to spend up to $700 billion to buy troubled assets, Paulson and Fed Chairman Ben Bernanke were hoping to share some of the responsibility and the blame - and get the freedom to boost companies that weren't already on the brink of failure. Instead, they're back to being crisis managers for the moment - and maybe for the duration of the crisis...
...Lehman Brothers have vanished into the ether, while fellow bulge-bracket Merrill Lynch was engulfed by Bank of America. Even the top firms Goldman Sachs and Morgan Stanley have agreed to become bank holding companies, subjecting themselves to restrictive regulations in return for greater access to liquidity from the Fed...
...Mothers who fed their babies tainted formula began noticing as early as last year that their children were getting sick. Dairy giant Sanlu Group, one of the producers of melamine-laced milk powder, knew as early as June about the problem, but didn't publicly announce a recall until Sept. 11. In addition to the four deaths caused by the poison, 53,000 Chinese babies have been sickened and 12,000 have been hospitalized. Out of 109 Chinese companies whose products have been examined for contamination, 22 have turned out to be trading in melamine-tainted milk products...
...Hajj penned thousands more words during years as Prisoner 345 -including accounts of being force-fed through a tube during months of a hunger strike; of being locked in a cage for two weeks with no toothbrush or soap, after guards found an iron nail outside his cell window; and of being placed in a single cell with no blanket or bed, after refusing to submit to vaccinations he had already received in Qatar. Asked to comment on these claims, U.S. Navy Commander Jeffrey D. Gordon on Wednesday told TIME that Al-Hajj had "routinely made baseless assertions that...