Word: plan
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...Regulators are split on what to do next. The Federal Deposit Insurance Corporation is backing a plan to create what it calls an aggregator bank, which would buy up the loans of BofA, Citigroup and the rest of our now troubled system, theoretically putting an end to the escalating losses eating away at the banks' capital. But if the government buys those assets at current market rates, banks would be forced to take immediate losses on the sales, doing more harm than if the government just left the troubled loans where they are. Sources say the Federal Reserve would prefer...
What do you when a bank rescue plan fails? You try it again...
...hasn't. Instead, the plan seems to have done little to slow fears that Citigroup would have to be broken up or shut down completely. Indeed, the bank has since announced plans to sell off a number of units, including its brokerage division. On the Friday before the insurance plan was struck, Citigroup's stock, a key measure of investors' faith in the institution, stood at $3.77. This past Friday Citigroup's stock finished...
...guarantees as the solution to fix the banking crisis appears to be gaining momentum in Washington and abroad. Earlier in the week, Treasury Secretary Timothy Geithner seemed to have struck a deal between the FDIC and the Federal Reserve to roll out a new phase of the bank bailout plan that would include both guarantees and direct asset purchases. The latter plan is favored by the FDIC and is often called the "bad bank" approach, because the government would set up an institution to buy up all the loans or bonds that are backed by borrowers who are nearing...
...Despite Western disillusionment with Karzai, there's no sign thus far that Washington believes Afghanistan's fledgling democracy might produce a more capable successor. But pressure on Karzai from Washington - and even the planned "surge" of three new U.S. combat brigades into Afghanistan starting this summer - may set the U.S. on a collision course with its client in Kabul. Defense Secretary Robert Gates warned during congressional testimony this week that the U.S. would have to narrow its objectives, abandoning any ideas of turning Afghanistan into "a Central Asian Valhalla." The immediate priority of the Administration's new war plan...