Word: toxicants
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Dates: during 2000-2009
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...turmoil and layoffs still to come, the future may not look like the halcyon days of the past—heavy deleveraging threatens to cut into profits, and Congressional leaders are already clamoring to include limits on executive compensation in the proposed bailout plan in return for taking toxic mortgage-backed securities off Wall Street’s hands at premium prices...
...what caused the breakdown of a $700 billion rescue package that at one point seemed to have been amended to everyone's liking - with limits on executive compensation, more protections for taxpayers and homeowners, and additional oversight of the buying and selling of Wall Street's toxic mortgage-backed securities? In the simplest terms, it was House Minority Leader John Boehner's surprising declaration at the White House meeting that his caucus does not support the deal and that alternatives should be considered. House Speaker Nancy Pelosi has demanded that Boehner get at least half of his caucus...
...crippled economy would be an even greater burden on average Americans. Treasury Secretary Henry Paulson believes that while the House Republican proposal would help moderate the current crisis, it wouldn't be enough to do the job. Nor is it the most effective way, Treasury officials argue. Leaving those toxic mortgage-backed assets on financial institution balance sheets, they say, would not provide the additional liquidity that banks desperately need right now to get the nation's paralyzed credit markets flowing again. They also believe that it is largely unworkable because it would not help solve the problem banks...
...Paulson and Bernanke asked for the world--and warned lawmakers they had only a few days to deliver it. Treasury needed $700 billion to buy up Wall Street's toxic mortgage-backed assets, which the government would eventually repackage and sell when the real estate market recovers, and a crisis might be averted. The proposal was simple, only three pages long. "Ben, Tim and I had talked for months about how there might be a need to do something like this, discussed the various plans," Paulson told TIME on Sept. 24. "The one thing we knew was that we couldn...
...pale in comparison to the consistent double-digit returns posted by the wealthiest university endowments over the past few years, they remain robust in light of the worst financial downturn in decades—one that has prompted a U.S. government plan to purchase up to $700 billion of toxic securities in an effort to cleanse the balance sheets of the country’s ailing financial institutions. The unprecedented government intervention in the market follows a series of financial shocks in recent weeks, including the failure of Lehman Brothers, the government takeover of mortgage giants Fannie Mae and Freddie...