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Treasury Secretary Tim Geithner has a problem. On the one hand, he has to act to save the banks if he's going to start credit flowing and get the U.S. economy back on track. On the other hand, doing so makes him and his bosses look bad. Americans are against bailing out the banks by more than 2 to 1 in some polls. Worse, the banks themselves are deeply mistrustful of anything government might force on them. The head of Wells Fargo told Bloomberg on Monday that a key part of Geithner's plan, the so-called stress test...
...their money isn't being wasted is no easy task. Geithner has said the government may put up as much as $1 trillion in loans and guarantees to subsidize the sale of the toxic assets to private investors. Though the government could get back the money if the assets start trading again, many Americans see it going down a sinkhole. Says Democratic pollster Mark Mellman: "There's a narrative out there in the public mind that the government's bailing out banks" - in other words, helping rich bankers keep their summer homes. (See pictures of expensive Modernist houses...
...Geithner provides answers to these questions in his rollout later this week, he may start to turn the corner on public skepticism toward him, the bank plan and the government's recovery efforts. He might even spark a stock-market rally. But the banking industry's hopes are more modest: "As long as he comes out with details on the public-private investment fund, then it's not a miss," says Talbott. If he doesn't, he'll have an even bigger mess on his hands. Alabama Senator Richard Shelby - the ranking Republican on the Senate Banking Committee - Senator John...
...have been a fan of u2 since the start [March 9]. I'm from Ireland, am the same age as Bono, have every one of their recordings on vinyl and CD, and have seen the band live, in Dublin and elsewhere many times. I wanted to thank Josh Tyrangiel for his incisive, honest and, above all, brave review of their new album, No Line on the Horizon. I've listened to an advance copy about 30 times, and it's a poor, disjointed, unmusical record with a few listenable songs. The only good ones sound like Brian Eno tunes with...
...Forward. For each three-night stay you book with the Sol Melia hotel group - which includes Paradisus Resorts in Costa Rica, ME by Melia Hotels in Madrid and Gran Melia Hotels & Resorts in Cancun - you'll get a free night's future stay at any property. Rates vary but start at about $199 to $279 per night. 888-95-MELIA...