Word: move
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...Didn't the government already rescue Citigroup? True, this is not the first government handout. On Oct. 13, Treasury told Citi and eight other large banks that it would be buying billions of dollars worth of stock in their institutions, the opening move in a mass recapitalization plan for the banking sector. Citi got $25 billion in exchange for preferred shares on which it is to pay 5% interest for five years and then...
...latest move to prop up the nation's flailing financial system, the U.S. government unveiled plans on Monday to rescue one of the world's biggest banks, plowing $20 billion of new capital into Citigroup and shouldering up to tens of billions of dollars in losses tied to the bank's soured assets. After a brutal week for Citi - marked by pink slips for tens of thousands of workers and a 60% drop in its stock price - news that the government would step in propelled its shares, which rose 58% from Friday's close. "Equity investors were panicked about...
...first 18 years of my life,” said Booker, who has served as Newark’s mayor since 2006. Booker said that today’s youth should acknowledge the accomplishments of the great leaders he learned about in his childhood and work to move the country closer to the “perfect ideals” it was founded upon. In contrast to Booker, Negretti took to the stage wearing a grin that remained on her face throughout her speech. She told the story of Maria Carrasco, a Lynn, Mass. school committee member who was inspired...
...FEMA." Scheppach, who knows Napolitano from her time as chair of his organization, expects that she will work to rebuild the trust between the Feds and the locals, which will go a long way toward fixing FEMA. "She's smart, she reaches out well, but she knows how to move things. She's pretty highly respected among governors on both sides of the aisle...
...remains unclear whether Napolitano hopes to move FEMA out of DHS. That's an option advocated by many emergency-management experts since the Katrina debacle, but the Homeland Security transition manual published this month by two think tanks, including the one led by Obama transition chief John D. Podesta, recommends shelving that decision until late...