Word: limitates
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...silky-smooth. The FCC has been blanketing the media with warnings, but there are still about 8 million steadfastly analog households out there, according to Nielsen, and the government has already run through the entire $1.34 billion it had set aside for those converter-box coupons. (There's a limit of two per household, and they expire 90 days after they're issued.) The situation is bad enough that it has actually become a presidential transition issue: on Jan. 8, John Podesta, Obama's transition-team co-chair, sent a letter to Congress asking it to push back the date...
...from just three the year before, and auctioning them off to the highest bidder. Its chairwoman, Sheila Bair, who was early in warning about rising foreclosures, has become a key policymaker in helping resolve the nation's financial crisis. At her urging, Congress in October upped the limit on FDIC insurance, albeit temporarily, to $250,000 from $100,000. The agency is staffing up too, and plans to hire as many as 125 new staffers over the next few months. (See pictures of the global financial crisis...
...Still, some observers say the FDIC and other regulators need to do more to limit losses. If losses pile up faster for the FDIC than it can replenish its fund by taking in new insurance fees from banks, taxpayers could eventually be on the hook for its losses...
...just the FDIC's fault," says Bert Ely, CEO of Ely & Co. "But it and other regulators are not moving fast enough to close problem banks and limit losses...
...rehabilitation and restructuring of Citigroup (C) was supposed to take months, or maybe a year. The big bank got a cash infusion when it sold a part of Smith Barney to Morgan Stanley. The plan for the creation of a new Citi was based on its ability to limit its losses so that it could buy time to unload other parts of its family of financial companies...