Word: plan
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...bank plan is supposed to be getting under way right about now, with private players lining up to tap government lending facilities to buy so-called toxic assets from banks, thereby cleaning up the banks' balance sheets and facilitating lending across the country. But the banks, convinced the market was undervaluing the assets, toxic or not, have never been very enthusiastic about selling them. (See 25 people to blame for the financial crisis...
...turns out, that's part of the reason the banks are still resisting selling into the public-private program. "The government plan continues to face a number of hurdles, including too much government overhang," says Scott Talbott of the industry group Financial Services Roundtable. Government officials say the language in a recent Senate bill requiring recipients of government "public-private" dollars to submit to oversight by the special investigator of bank-bailout funds is scaring away both sides of potential deals. "We've run into reluctance on the part of buyers and sellers," says an official. (See pictures of retailers...
...administration’s vague responses and deflections may reflect a lack of any current plan. “I don’t think there’s some big proposal sitting in the wings that is the secret strategy for solving our budget shortfalls,” says Allan M. Brandt, dean of the Graduate School of Arts and Sciences...
...Although every budgetary plan eventually “rolls up” to Smith’s office for final review, his purview is much too vast to allow much attention to details. “I did not go through all the different proposals from all the different units. That would be crazy,” Smith said in an interview last week, about proposals for cuts sent in by units over the past few months. Instead, he focuses on recommendations flagged as “affecting multiple units” or with far-reaching consequences...
...with Sweet, Forst’s counterpart in FAS. Forst says he meets every day with his own finance team or those at other schools across the University—and his meetings with Sweet and Smith have become particularly formative for a school currently struggling to develop a plan for revamping its administrative and programmatic structure. “I think the two of them have an extremely good working relationship,” Smith says of the financial...