Word: plan
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...return (with the idea of selling it off a few years down the road). The Swedish solution, they call it (and longtime readers of this blog know it was being discussed here long before anybody else in the U.S. was talking about it). The version of the bailout plan voted down in the House Monday seemingly would have allowed Treasury to take such action. But it also would have allowed Treasury not to take such action...
...mail from a reader late last week with a bunch of very good questions about the bailout bill. I hadn't quite finished answering them when it was voted down in the House Monday. But since some version of the plan is likely to be resurrected later this week, I figured I should go ahead and finish...
...could have been worse. That was the preliminary judgment in foreign markets as indices in Asia and Europe posted moderate declines - and in some cases modest growth - on Tuesday. Although Congress's rejection of the $700 bailout plan engendered some jitters on markets around the world when they opened on Tuesday. But it didn't send them reeling...
...knew this was bad news," says Song Seng Wun, regional economist at CIMB-GK Research in Singapore, who like other market-watchers believes some sort of bailout plan will get through. Unlike U.S. taxpayers, market actors in Asia aren't overly concerned about details like limiting golden parachutes extended to disgraced CEOs of bankrupt financial companies, or whether the U.S. government gets enough equity for their investment. "They just want something to be passed," notes Kowalcyzk...
...deal will get done in Washington, no one believes that will put an end to the current bad news. A bailout would be just the beginning of what looks to be a long and painful unwinding for Asia, for example. Even if the U.S. government can pass a plan to pump money into the financial system by buying bad mortgages - thus freeing up banks to lend money elsewhere - it won't "address the decimation of the wealth effect of the U.S. consumer," which many export-led Asian economies rely on, says Kirby Daley, senior strategist at Newedge Group, a financial...