Word: plan
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...additional capital banks needed to remain solvent, and the government would then provide that amount to the banks. Now the Treasury is giving the banks that are believed to need additional money, including Bank of America, Citigroup and Wells Fargo, until June 8 to come up with their own plan to fix their financial problems. (See pictures of the dangers of printing money...
...Though details are still unclear, the plan appears to place the individual brands under the umbrella of a kind of holding company, described in a statement by Porsche as an "integrated leading company." The merger also entails a $6.7 billion capital increase, financed by Porsche's existing shareholders, for the new company this year or next, according to a Reuters report...
...That means the banks face another test just one month from now. It's similar to the strategy the government took with the automakers, which were also asked to present a recovery plan before receiving new government funds. So, just like the automakers, expect some big changes at the banks over the next month. Top executives of Bank of America, Citigroup or Wells Fargo could be out of a job. The government may also decide it wants a much bigger stake in the banks than some are currently letting on. Maybe Tim Geithner and Ben Bernanke are better at tying...
Social space at Harvard is a real problem. But the Undergraduate Council’s potential purchase of 45 Mt. Auburn Street is an even bigger one. While admirably motivated, the plan is not a feasible solution and should be abandoned immediately. We commend the UC for working to solve the important issue of social space on campus, but its fixation on purchasing this particular property is unwise...
...apparently failed to take into account the numerous flaws in its acquisition plan, which undermine the entire endeavor. This past Tuesday, less than three weeks before the end of exams, all Harvard undergraduates received “personal” e-mails soliciting their services as paid fundraisers for the capital campaign the UC will launch over the summer to raise approximately $6 million in no fewer than 16 months. Given the scope of the project and the current economic climate, this lofty goal seems highly unrealistic. However, anything shy of this target will likely be insufficient to complete...