Word: oughtness
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...ticked off about the bank bailouts. Furious. You think somebody - other than you and your fellow taxpayers - needs to pay. Let's try to work out who that somebody ought...
...anything - the shareholders simply don't have much more value to cough up. Same goes for those who work in the business. Many have lost their job and life savings, and most have seen their salary cut. Yes, there have been egregious bonuses and golden parachutes - and we ought to claw them back - but that won't pay for a trillion-dollar (or more) bailout. Which leaves ... the folks who loaned the banks money. The banks' creditors have been the clearest beneficiaries of the bailouts - leaving them with the most wherewithal to contribute. (See 25 people to blame...
...funds. It may be too much to ask small depositors to monitor the risks at the banks where they put their money and pay for getting it wrong. But these bond buyers are pros. If there is to be any market discipline of risk-taking by banks, bond investors ought to be the ones who enforce it by withholding their cash from the bad apples - and paying the price for misjudgments. Plus, a few concessions from creditors could ease the burden on taxpayers dramatically. If Citi's $486 billion in wholesale debt were converted into common shares - admittedly a pretty...
...think some relaxation of the rules may make sense. The top U.S. banking supervisor, Comptroller of the Currency John Dugan, tells TIME he is in favor of letting the banks mark back up the value of some of their toxic assets. "I think there are some changes that ought to be made," Dugan says. Mark-to-market accounting is a problem, he says, for illiquid assets because "those things have just stopped trading altogether." Dugan does not support doing away with mark-to-market entirely; not even industry lobbyists want that. But his deputy will argue at the congressional hearings...
...late to not have a clear conception of what January will be. The schedule change has been under consideration for years, and the idea that the College is still uncertain about this essential component is troubling. If budget anxiety is to blame for the prolonged uncertainty, then the administration ought to be transparent about that. And, if truly no concrete decisions have been made, then it must make finalizing this aspect of the calendar a priority...