Word: lend
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...World Bank officials are meeting in Washington on Oct. 13 to search for solutions to the current crisis. But the IMF's role will be limited, because the financial turmoil is global. The organization might be able to lend a hand in specific situations. On Thursday the IMF announced it was restarting an emergency lending program that had been active during the 1990s Asian crisis for developing countries. The IMF has already sent a mission to Iceland, which is suffering from a financial meltdown. "All kinds of cooperation has to be recommended," IMF managing director Dominique Strauss-Kahn told reporters...
Then why the late-Friday rebound? Certainly not from any significant easing in credit markets, where most measures of banks' unwillingness to lend to each other remained off the charts. And yet the late-afternoon sell-off that investors had come to expect - from hedge funds and other investors freeing up cash to make margin calls and pay clients wanting to withdraw money - didn't come. Instead, around 3 p.m., indexes began to rise...
...credit markets moving again, economists have called for governments to guarantee short-term interbank loans. "Recapitalization by itself won't fix the interbank lending market," says Roger Craine, another Berkeley professor and a former Federal Reserve economist. The big problem now is that banks are unwilling to let go of their money because of counterparty risk - the fear that the borrower may go under, sticking the bank with the loss. "If the bank you lend to has assets in a hedge fund that goes under then they are likely to go under," explains Craine. A coordinated interbank debt guarantee...
...Lending remains absolutely frozen right now, as banks are too frightened to lend to each other - let alone businesses and municipalities, since they're worried about who could go under next. The initial market reaction to Paulson's speech was something on the order of: "Holy [expletive deleted], we must really be in trouble." The market cratered when it heard on Wednesday, losing nearly 190 points on the Dow after trading in the black for most of the day. It tanked again on Thursday...
...great things about Justice Souter is that he doesn’t lend himself easily to trait categorizations,” Amestoy said...