Word: overbidding
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Dates: during 2000-2009
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...market prices because the markets for many debt securities are so clearly broken. But the prices prevailing in a smoothly functioning government-subsidized market will be hard to ignore. This has led to speculation in the economics blogosphere that banks might game the program by conniving with investors to overbid for assets. That's not inconceivable, but it would be hard to pull off. Which means banks may be headed for a shakeout...
...there is any comfort for Democrats, it is in their experience that when it comes to Bill Clinton, Republicans have never failed to overbid a good hand. The first evidence that this could be a replay of scandals past came when Pennsylvania Senator Arlen Specter raised the possibility of a postseason impeachment trial. And Indiana Congressman Dan Burton's committee, already on its second round of subpoenas, is the same crowd that got nowhere on Whitewater, Filegate, Travelgate and a raft of other Clinton scandals over the years. More ominous for Clinton is the inquiry that U.S. Attorney White announced...