Word: planned
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...good idea to try and get those moving off banks' books. But what of the bundled, securitized assets? According to the FDIC, the total value of securities on banks' books as of Dec. 31 was $1.7 trillion. How much of those securities are toxic and how does the Geithner plan move them to be sold...
...financing for this part of the plan is much less attractive. For every dollar of equity an investor puts up, the government will put up a dollar of its own, plus up to another two dollars in financing, for a total of 3-1 leverage...
...told, the three plans address about $420 billion in toxic loans and assets that the government hopes to get off the balance sheets of banks. Will that be enough to nurse our nation's biggest banks and financial markets back to health? It's not clear. The plan leaves out tens of billions of dollars in bonds that were never AAA-rated and were hard to sell even in good times. The plan triggered a strongly positive stock-market reaction on Monday, when the Dow Jones industrials soared nearly 500 points. On Tuesday the market slipped 1.5%, as doubts about...
...This plan is an important piece of the recovery, but it is by no means the solution," says Joseph Mason, a professor of finance at Louisiana State University and a senior fellow at the Wharton School...
...transformation of Treasury Secretary Timothy Geithner will be remembered for its speed and unexpectedness. Just four weeks ago, on the heels of a failed presentation of the Administration's plan to help shore up banks, he was considered indecisive and incompetent. There were calls for him to step down until the President voiced support for his Treasury Secretary on a television talk show...