Word: priced
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When will the red ink at Freddie stop? It's hard to say. In its most recent annual report, the company said that if it had to mark all its assets to the price similar bonds are trading for in the market, the company's net worth would sink by an additional $65 billion. But Freddie's bottom-line woes may run even deeper. Freddie has $38 billion in losses it has yet to acknowledge in its investment portfolio. The firm also has $48 billion in nonperforming loans that it either holds or has guaranteed against. In a painful stroke...
...trillion-dollar subsidy to buy toxic assets from the banks. Hedge funds and other players all want to know the terms of the sale before they even think about stepping up to the plate. So far, Geithner and Treasury have provided little detail. "The question of how to price the asset is still on the table, unresolved," says Scott Talbott, a top lobbyist for the Financial Services Roundtable, an industry association...
Among other key questions: What percentage of the purchase price will the government fund? A senior Administration official said as much as 80% of the purchase price could be government money, but the number has not yet been fixed. And who gets to keep the profit, if there is any? Does Uncle Sam let the private player keep it all, or does the government get some? How and when does the private player have to repay the government loan? And what if the toxic asset stays worthless - does the private buyer lose his money first, or does the government...
...most subscribers, the cost is minimal: they can access up to 75% of a book for free and pay only about 0.04 yuan (less than one cent) per 1,000 words for the rest of the book. In other words, it costs about one-tenth of the paperback price to read a book online. Right now, the company takes half of the readers' payment, and the other half goes into the writers' pocket...
...taken prisoner. Even families of terrorist victims are pleading for Olmert to strike a deal with Hamas, which rules the Gaza Strip and survived a 22-day pummeling by Israel earlier this year. Roni Hirshzon, who lost his son Amir in a suicide-bombing attack, said, "What is the price Hamas demands compared with the life of a soldier?" (See pictures of Gaza after the Israeli invasion...