Word: funds
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...Monday, Randal Quarles, a managing director at the Carlyle Group and a former Treasury official, told an audience at a conference on the Treasury's bailout fund - which is called the Troubled Asset Relief Program (TARP) - that he thought the fund could need to double in size. "The amount of assistance provided so far is not enough," Quarles said. "The losses out there are materially larger than TARP and will likely require more support than the current $700 billion...
...Wednesday Treasury Secretary Henry Paulson told Congress that he believes buying mortgage bonds is no longer the best use for the remaining TARP funds. Instead, he said, Treasury is looking at injecting more money into struggling "banks and nonbanks." He said he plans to use some of the remaining bailout fund to support the market for troubled car loans and credit-card debt, as well as to reduce home foreclosures...
...global economy, was washed away amid more company-specific concerns like the fate of G.M. It almost feels as though investors are once again paying attention to the underlying value of individual stocks, and aren't simply being swayed by broader economic news: bailouts, oil prices, hedge-fund liquidation, data pointing to recession, a particular presidential election. (Find out 10 things to do with your money...
...endowment for the Fogg Museum’s Department of American Art, curator Theodore E. Stebbins, Jr. said he often approached known patrons of American art who had no prior connection to Harvard and were his own friends. While the six other branches of the Fogg Museum received funding from the University’s budget, the Department of American Art, which was established in 2002, was surviving on year-to-year private donations. But in a four-year campaign orchestrated mainly by Stebbins, the department raised $10.5 million that will now be allocated for American art, the Harvard...
...recently asked to do an appraisal on a distressed property by a bank. When he looked up the address he found out that the homeowner who was behind on his mortgage was a fellow agent. He says his local association of real estate agents is looking into raising a fund to help brokers in need. "It's tough out there in the real estate world," says Caddell. "We are trying to figure out what we can do to help our fellow agents...