Word: programer
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There has been little definitive discussion of the actual benefits of the Treasury's new program that will fund the purchase of toxic assets from banks using federal money, and then allowing private money managers to purchase and trade this paper. There has only been speculation about the outcome, and that has been over a broad range. Prominent economists, led by James Galbraith and Paul Krugman, have said that the plan may actually do more harm than good. In the Treasury's corner, Pimco, the largest fixed income management firm in the U.S., endorsed the Administration's plan. "This...
First, he highlighted a massive new FDIC program to get the banks to sell troubled mortgages. For all the focus on complex securities based on bad loans, the bad loans themselves pose the greatest threat to banks' balance sheets, according to the Treasury department. Bill Gross, chief investment officer of the massive PIMCO bond firm who has been in conference with the government about participating in the plan, estimates the loans pose up to a $1 trillion problem for the banks, and the new program taps FDIC funds to get investors to buy those loans from the banks. Gross told...
Second, Geithner said the still-nascent Federal Reserve program launched last week to restart non-bank commercial lending [i.e., by helping investors buy securities backed by auto loans, credit card debt, etc.] would be expanded to provide funding for investors who want to buy certain kinds of mortgage-backed securities. The government's enthusiasm for the starter plan, known as "TALF," has outstripped market enthusiasm, but there is some life in it. The Federal Reserve has put up over a $1 trillion in potential lending already, though only $9 billion in deals have been done so far. Geithner...
...Barry Popkin, a nutrition epidemiologist and economist who directs the interdisciplinary obesity program at the University of North Carolina, would use a term other than Sinha's "modest." "You're talking about a lot of deaths that would be prevented by cutting your processed meat or cutting your red meat," he says. He suggests framing the issue in real terms. A McDonald's Big Mac contains 7.5 oz. of red meat, Popkin points out. So if your diet consists of a Big Mac every other day - roughly equivalent to the highest quintile of meat consumption in the study; in other...
...Blues. Members of JetBlue's TrueBlue loyalty program can earn a free trip from Boston to any destination, if they fly two round-trips between Boston and Denver, Las Vegas, Long Beach, Oakland, San Diego, San Francisco or Seattle. Register here before booking, then buy your tickets online. Take two round-trip flights before May 31 and the third ticket is yours to fly anywhere JetBlue goes by Dec. 15 (except on certain blackout dates...