Word: generalizing
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...Less than two weeks ago, The Washington Post published an article announcing that AIG had paid millions of dollars in retention bonuses to executives of the company. Documents later turned over to the Connecticut Attorney General show that the actual figure was $218 million. To date, the government has loaned AIG $170 billion from various financial assistance efforts, including Troubled Asset Relief Program ("TARP"), in exchange for an 80 percent stake in the company. However, in apparent disregard of its unmatched failure, AIG chose to honor its employee's compensation agreements, and awarded multi-million dollar bonus to its executives...
...Although he took pains to take AIG and Wall St.'s actions to task, he also suggested that the proposed bill from Congress would use the tax code to penalize a specific subset of people and would be contrary to good public policy. "Well, I think that - as a general proposition, you don't want to be passing laws that are just targeting a handful of individuals. You want to pass laws that have some broad applicability. And as a general proposition, I think you certainly don't want to use the tax code to punish people." He later went...
...Recently, Andrew Cuomo, The New York Attorney General, announced that "Of the $165 Million pool, we calculate that employees have agreed to return approximately $50 million." This reflects about 20 percent of the $218 billion that Connecticut's Attorney General has said AIG paid in bonus compensation, but it's an impressive start...
...Worse still is the availability of credit in the economy in general. According to the New York Times, "By one estimate, as much as $1.9 trillion of lending capacity - the rough equivalent of half of all the money borrowed by businesses and consumers in 2007, before the recession struck - has been sucked out of the system." Based on these figures the government's programs have yet to reach the American public...
...purpose of Emergency Economic Stabilization Act, known as the bailout plan, was to restore stability and liquidity to the U.S. financial system. The TARP, one of the Act's driving initiatives, was intended to be a mechanism for financial institutions to offload toxic assets, in general, heavily leveraged ABS securitized by banks and held on their books. An ABS is considered a toxic asset when the value of the ABS is less than the original investment. The toxic asset has a negative impact on the bank's balance sheet which, when multiplied, reduces the banks ability to lend...