Word: stockings
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...Sept. 23, while lobbying Congress for $700 billion to lift bad loans out of the financial system in hopes of restarting lending between banks, Treasury Secretary Henry Paulson downplayed another, more extreme approach to shoring things up. "Some said we should just stick capital in the banks, take preferred stock in the banks," Paulson said. "That's what you do when you have failure. This is about success...
...bank failures are likely to keep worrying the markets too. Some traders were hoping for two potentially positive events this weekend, after the worst week in the history of the New York Stock Exchange came to a close on Friday. The first was that the meeting of the G-7 - whose finance ministers and central bankers were set to convene in Washington - would unveil details of a plan to inject capital into banks worldwide. The second was that the G-7 would commit to a coordinated guarantee of interbank lending...
...James H. Stock, chair of the economics department, said yesterday that he believed that the idea of issuing a fall letter was a good...
...Stock market •bailout totally ignored...
...falling euro, for instance, would have been considered generally good developments only a few months ago. Yet markets are so spooked that they're driving indexes into the ground and thereby increasing the chance of general economic contamination. "We're back to the most basic behavior of stock markets: people buy when they see everyone else buying, and they sell when everyone else is selling," says Naudé. "Confidence is gone despite the generally quick and positive intervention by governments...