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...Under the current plan being hawked by Paulson and the Bush administration, that astronomical sum would be used to buy up bad debt from ailing institutions in order to clean up their balance sheets. The criticisms of the plan are legion, but one irksome feature is that the banks that made the worst mistakes are in line to get the most help, providing little incentive for future managers to mend their ways. And all taxpayers would get for their rescue money is a mountain of toxic loans of highly dubious value...
...must be done in the way of individual merit pay for teachers to truly improve teaching in every classroom. Under Klein’s model, rather than appropriate bonus pay to individual teachers, schools that have made progress on their report cards over the last year will receive lump sums of money to distribute however they see fit. The bonuses—which total $14.2 million overall—amount to several thousand dollars per school, adjusted based on what percentile of its goal for progress the school has achieved. Most schools have elected to divide the bonus equally among...
...since mid-2006 and say the government's eventual loss could approach $1 trillion. By seeking $700 billion - roughly akin to the cost of the Iraq war (so far) - the Treasury is taking a middle path. But many on Capitol Hill are pushing a proposal to commit an initial sum of $150 billion to $200 billion before handing over the whole sum...
...Corporation (RTC), an institution created during the Savings and Loans crisis to avoid dumping real estate assets after bank failures, and thus to avoid a further decline in real estate prices through the usage of federal funds. The current proposal is explicit about its monumental cost: $700 billion, a sum larger than the 2009 budget of Medicare and Medicaid, which also dwarfs the de facto nationalization of Fannie Mae and Freddie Mac just weeks...
...Citigroup stumped up some $400 million to tag its name to a new stadium that baseball team the New York Mets will play in from next year. And British lender Barclays - who backed out of talks over a possible takeover of troubled Lehman Brothers last weekend - lavished a similar sum for the naming rights to the New Jersey Nets' planned Brooklyn basketball arena. If that sounds risky, consider its exposure in its home market: the U.K. bank is the proud sponsor of the English Premier League...