Word: governmentalize
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According to a report produced by a division of bond manager BlackRock in November 2008, AIG would probably have been able to strike settlements that, at least at the time, could have saved the giant troubled insurer, and taxpayers, billions of dollars. Instead, after a few days of harried discussions...
It's not certain that any of the banks would, at the end of the day, have gone along with any offers from BlackRock, an adviser to the Fed. Nor is it clear whether any deals would have been more profitable for AIG, given the rebound in the credit markets...
The AIG bailout has become one of the most enduring controversies from the financial crisis. On Wednesday, a congressional hearing again probed the moves and possible mistakes the government made when it rescued the insurer. At the center of the hearing, which was held by the House Committee on Oversight...
The blasts occurred amid rancorous and sectarian political debate in Iraq. The predominantly Shi'ite government of Prime Minister Nouri al-Maliki had somehow managed to ban many important Sunni politicians from running in parliamentary elections scheduled for March 7. This comes just as the large Sunni minority - the base...
The elections were called early by Rajapaksa, who is seeking to validate his victory against the LTTE. Instead, many voters are taking the opportunity to send him a message that they are still suffering economically. Karu de Silva, a resident of Colombo and father of two, says he plans to...