Word: nadas
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...banks but is not actually entitled to yet. That liability will lower the balance of the FDIC's fund by the same amount that it is boosted by the prepayment. That means, at least on the books, the net effect of the prepayment for the FDIC fund will be nada. So even with the $45 billion coming to it, the FDIC will look broke, and probably stay that way until sometime in late 2012. And that raises the question as to how much a boost in confidence the prepayment plan will be to the banking system. "Does it really spook...
...party involved thinks the process is perfect. Just a week into the program, the National Association of Auto Dealers (NADA) lobbied successfully to tweak the rules. Dealers, who were originally forced to dismantle the cars before receiving the government's check, can now hold on to cars until they get the money, so long as they ruin the car's engine within seven days. The NADA says it's happy with the Obama Administration's response to its concerns and says the latest changes significantly reduce the risk to dealers, who aren't saddled with a dead engine...
...estate loans. The recently completed government bank stress tests assumed that as many as 12% of all such loans could go bad in the next two years. So Corus is looking at a potential loss of $480 million. How much capital does Corus have to absorb those losses? Nothing. Nada. In fact, Corus is already is the hole for $9 million. Call the failure hotline; we've got a live one, just barely...
...Congress. One proposal supported by Democratic Sen. Barbara Mikulski of Maryland and Republican Sen. Kit Bond of Missouri would permit new car buyers to deduct auto loan interest and sales tax on their personal income taxes. "We think temporarily making interest deductible on car loans would spur sales," says NADA economist Paul Taylor. The NADA is also supporting "cash for clunkers" initiatives, which encourage consumers to upgrade their older cars to cleaner, more fuel-efficient models. "None of these have been costed out yet," says an aide to a Democratic member of the House of Ways and Means Committee...
...many others viewed the treaty - and the debate it provoked - as an opportunity to change the direction of the country. "This wasn't about [opposing] Maliki as a man," said Nada Ibrahim, a Sunni lawmaker from a smaller political bloc that did not vote for the SOFA. "It's about the political parties in this government, the parties that are thinking in a sectarian way, behaving in a sectarian way. That is the problem. We think we have to share everything in this country, to re-evaluate and rebalance things...