Word: giants
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...date the most expensive corporate bailout in American history, requiring $180 billion in government funds. But it may soon have competition. Last week mortgage giant Freddie Mac said it had lost $50 billion in 2008 alone. A look at the company's books suggests the government will have to spend at least triple that much to save the financial firm from collapse. If the housing market worsens, the tab could be even larger...
...stabilized he expects the recession to come to an end "probably this year." And the possibility of the nation sinking into a second depression? "I think we've gotten past that," he said. Bernanke remains dedicated to the task of recovery, but says that the bailing out of insurance giant AIG still "makes him the angriest and gives him the most angst" because of the poor choices the company has made at the taxpayer's expense. (See pictures of the global financial crisis...
Dining Hall: Currier's dining hall features two standouts: a giant fountain centerpiece and a warm, friendly staff. You will often find yourself striking up a conversation with Patricia at the checker's desk or catching up with Amy M. Lester, dining hall manager. Dining hall hours go mercifully late and the doors often open early. Currier has also been called the crown jewel of HUDS, as food is characterized by excellent preparation and nice touches, such as cherry tomatoes and peeled cucumber slices...
...part, AIG claims the company is contractually required to pay its employees - including $9.5 million to top executives - and that the money is necessary to retain "the best and the brightest" to keep the insurance giant afloat...
Equally upsetting to critics is the list of dozens of companies already benefiting from the AIG bailout. These firms, which insured their purchases of mortgage-backed and other securities with AIG, include investment giant Goldman Sachs ($12.9 billion), Merrill Lynch ($6.8 billion), Bank of America ($5.2 billion) and Citigroup ($2.3 billion). The same firms, directly or indirectly, also received earlier bailout cash under the Troubled Asset Relief Program (TARP). The group includes some of the most sophisticated investors in the world, prompting critics to question why the companies should not take responsibility for their own financial decisions, rather than accept...