Word: priced
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...head of the Federal Reserve, said that the economic recovery might still begin in the latter part of this year. What was not so well reported was that he said it could only happen if the banking system was fixed, a process that may actually take years. The price of oil has been moving up which usually means that the market expects that individual and industrial demand will improve. It also means that it may cost $4 a gallon to drive...
...Fair-value accounting, also known as mark-to-market accounting, requires banks to price assets on their balance sheets according to what you can sell them for on the open market. Seems logical enough. But how do you mark to market when the market is effectively shut down...
...clear where the banks are getting their prices. Some of the firms derive the asset values from financial models. Others try to gauge how much a group of subprime mortgage loans might be worth by looking at a price index, called the ABX, of related credit-default swaps...
...Treasury Department is looking into purchasing those assets, whether through a public-private partnership or through some other mechanism. Part of the stumbling block is price. Paying more than the banks are able to say the assets are worth would certainly lead to criticism that the government is providing another massive handout to the banking industry...
...employee at an international-development agency. But that's an option born of despair. "We hate the Taliban, but we also hate the suicide bombings," says 18-year-old student Hekmatullah Hekmat. "In order to have a peaceful, stable Afghanistan, we must negotiate." But Hekmat adds that if the price of peace is a return to the social strictures of the Taliban era, "I will run away to Pakistan - all of the Afghans will...