Word: feds
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...Many of the plans that the Treasury has to improve bank balance sheets and lending will simply be a waste of money. There is no entirely convincing argument that helping worthy people who cannot pay their mortgages with their home loans will stabilize the housing market. The Fed's plan to buy as much as $300 billion in Treasuries may bring down interest rates, but that will not automatically cause businesses and consumers to borrow money and restart the spending cycles that, to some extent, caused the current financial crisis...
...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...
...slow start, attracting only a handful of applications during the two-day window for participation this week. The total size of the deals fell well-short of the $200 billion the Federal Reserve initially made available for the program, let alone the $1 trillion to which the Fed eventually raised the ceiling...
Motherhood, by the way, looks good on her. Onscreen, she's lush and full: any woman who has breast-fed will recognize the source of her Duplicity cleavage. Her Claire makes Owen's Ray even more swoon-worthy; we know he appreciates a real woman. If you're nostalgic for the pretty woman in pink-and-black spandex, too bad. Roberts isn't shoehorning herself back into a prostitute's work outfit. She's too sensible to even try. All the more reason to hope she's still a trendsetter...