Word: messing
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...credit system and dealing with China, Europe and other representatives of the global marketplace as the recession spreads. And he hasn't exactly had an easy time hiring staff, with three top appointees withdrawing their names from consideration in the past month. "I knew that we had a big mess on the compensation side to deal with, but I did not have - I should have had, but I did not have - detailed knowledge of these particular legally contracted retention bonuses for [AIG] until I was briefed by my staff on March 10," Geithner told a House Financial Services Committee hearing...
...supported by the state's attorney general. But the day after federal charges were leveled against the two judges - the result of a long-running probe into links between the court and the youth-detention centers - the state supreme court reversed itself and appointed someone to clean up the mess...
...Before the subprime mess began, no one talked about the danger that mortgage derivatives posed to banks. Now, there is not much talk about what could bring the banking industry to its knees again. That talk has gone away and been replaced by a childish hopefulness that decades of overleveraging can be fixed by a few months of losses and hundreds of billions of dollars in government...
That is outrageous. But it's not any more outrageous than the even bigger bonuses paid out in past years to the masterminds of the AIG FP mess who no longer happen to work there. Slightly less so, in fact: the remaining AIG FP employees are being paid essentially to work themselves out of jobs by winding down all the unit's contracts. It's an awkward situation that means at least some of them probably would have gotten retention pay even in bankruptcy...
Meanwhile, the agencies' business model morphed from one in which investors paid for ratings to one in which bond issuers did. That generated more revenue, but it also created a massive conflict of interest, often cited in the current mortgage mess. In 2006, the SEC took regulatory authority over the agencies, in part because of their failure to ring more alarm bells concerning companies like Enron. SEC head Mary Schapiro is now signaling that the ratings system might need to be changed further, particularly who pays for ratings...