Word: fixes
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Dates: during 2000-2009
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...bank stress tests are considered one of the key components of Treasury Secretary Tim Geithner and President Barack Obama's plan to fix the financial system. They are designed to determine which banks would fail and which would survive if the economy worsens, as some economists expect. But when they were announced in mid-February it was not clear what the government would do with the information collected. Would it shut down a troubled bank...
...mean that the argument is entirely flawed. Pandit, Thain and Willumstad did not do any better than their predecessors. As a matter of fact, they probably did much worse. They were given the specific tasks of ferreting out problems in the companies which they were picked to operate and fix them. Each one expressed optimism about accomplishing their goals only to face the need for government intervention to prevent collapse. Not one of the three simply acknowledged that his company was too badly broken to be fixed by its own devices...
...tempting to say that no executive, no matter how accomplished, can fix the nation's largest banks. They can only be fixed when the credit markets themselves are repaired. Antagonists to that way of thinking would refer to Jamie Dimon of JPMorgan (JPM) who they claim can fix anything in the financial world. That point of view fails to admit that he did not break his bank in the first place...
...reason we haven't heard apologies yet is an increasingly widespread belief that "I didn't do anything illegal" is equivalent to "I didn't do anything wrong." Clearly it is not. How do we fix that? Dan Horsfall, CHANHASSEN, MINN...
...reason we haven't heard apologies yet is an increasingly widespread belief that "I didn't do anything illegal" is equivalent to "I didn't do anything wrong." Clearly it is not. How do we fix that? Dan Horsfall, Chanhassen, Minn...