Word: plan
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...comforted by the results. That's because two different scenarios are used to stress test the balance sheets of financial institutions: baseline and adverse scenario. The baseline was designed to represent the consensus at the time in which the plan was presented. Unfortunately, current macroeconomic conditions are already worse than the adverse scenario (which is closer to the new consensus) for all the three variables of the test -unemployment, real GDP and home prices. (See TIME's "25 People to Blame for the Financial Collapse...
...Moreover, the specter of insolvency might be looming for some institutions. That calls for a plan to treat zombie banks, one that does not involve more taxpayer money again. This is why it is imperative that Congress proceeds to pass new insolvency-regime legislation to allow for orderly receivership of complex financial institutions...
...income brackets. Whether this is morally or economically defensible won't matter much if the total tax dollars that comes from people making over $250,000 a year is well below budget. Even if the federal government has a perfect track record of holding to its expense plan for the next two years, IRS receipts could be off by tens of billions of dollars. (See pictures of the global financial crisis...
...Harvard University Police Department said yesterday that it is not planning to close its Allston substation as a result of University-wide budget reductions—even though a HUPD sergeant seemed to suggest at an Allston construction management meeting Wednesday night that Harvard was considering such a move. While HUPD is holding preliminary discussions to examine a number of potential cost-saving measures, “the safety and security of the people on our campus is HUPD’s primary concern” and will not be affected by budgetary changes, said University spokeswoman Lauren Marshall...
...Detroit, not surprisingly, loves the plan, which makes Rep. John Dingell, the powerful automaker ally, more likely to support broader legislation. But the clunker proposal's passage is no indication that the broader bill will have an easy time of it. A rare win-win for industry and the environment, it didn't require any of the the trade-offs being discussed to pass the "cap and trade" measure at the center of the House global warming bill. Introduced April 1, the measure would require all sources of warming gases - produced by the burning of coal, oil and natural...