Word: move
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...Paulson says that unlike the situation with Bear Stearns, there was never a moment when the two firms appeared in imminent danger of failure. But he saw far more dire potential consequences than in the case of Bear. "Their securities move like water among all of the financial institutions," he says of Fannie and Freddie. If holders ranging from central banks in Asia to community banks in Iowa had lost confidence, the ensuing sell-off might have been catastrophic...
...extend the Bush tax cuts and add others, including a significant corporate-tax-rate cut, which would subtract about $300 billion. "McCain has set a responsible goal," said Bob Bixby of the deficit-obsessed Concord Coalition, "but he has no plausible way to achieve it. His budget would actually move things in the opposite direction, away from balance...
...Intelligence Bureau, would be placed under the "administrative, financial and operational control" of the Ministry of Interior. Although until now the ISI had been nominally under the administrative control of the Prime Minister, it has throughout its 60 years operated in notorious secrecy and with negligible civilian oversight. "The move would have opened up the ISI's finances and operations to scrutiny," said Ayesha Siddiqa, an independent military analyst. And plainly, powerful forces within the Pakistani state were having none...
...personal responsibility for "distributing money to the alliance against Benazir Bhutto" during the 1993 election. "After seeing the period that she had ruled, I thought it would be better if the lady did not come to power," he said. On Saturday, Bhutto's widower, Asif Ali Zardari, welcomed the move to put the ISI under civilian control as an important "step towards civilian rule...
...many in Pakistan believe the move had come in response to U.S. pressure. "Failed coup against ISI was to appease U.S.," read one local headline. "They wanted to please Washington," said former spymaster Gul. "It misfired and became a boomerang to hurt them." The PPP did not help its case by the manner in which it proceeded. Neither the parliament nor the coalition's junior partners were consulted. And in choosing to cede control of the ISI to Rehman Malik, the effective Minister of Interior, instead of tightening his own grip, Gilani was left looking weak...