Word: ownerships
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Dates: during 2000-2009
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...country's banking system was effectively nationalized in October when then Treasury Secretary Hank Paulson called the heads of the nine biggest banks into his office and told them they couldn't leave before agreeing to take billions of dollars of government money and hand over ownership stakes in return...
What's happening now is really better described as a sorting out. The big banks in the most trouble are going to have to accept ever greater government ownership and control of their affairs. The ones in the least trouble are going to try to run away from the feds as fast as they can. (See 25 people to blame for the financial crisis...
...said whether he intends to use the money to shore up the larger troubled banks or as grants to some smaller banks that don't necessarily need the funds but could use the additional money to make more loans. The government is reportedly in talks with Citigroup to take ownership of as much as 40% of that bank. But that stake may come not from an additional investment but from converting the government's existing preferred shares to regular common shares. (See the 25 people to blame for the financial crisis...
...understood their side of it, from a lawyer's side," Helling said. "Their thinking was, 'This isn't anything ownership has asked us for. It's never been an issue [in bargaining]. So why would we give them something without getting something in return. Why open this...
...going on. They didn't realize how widespread it was. As players, we kind of did know. Whether it was 50% or whatever, I can't say. It was more than people thought. It was more than Don, Gene and Bud thought. So the thinking was more, 'If ownership didn't ask for it, why volunteer it? It's probably not that big a deal...