Word: toxication
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...together its widely hailed bank "stress test" program meant to determine which of the big financial institutions have dysentery and which do not. Finally, the hundreds of billions of dollars that went into the largest banks late last year allowed Secretary Geithner to produce his public/private partnership to buy toxic assets off of bank balance sheets...
...midst of testing bank balance sheets at all. The experts at the Treasury had been thrown off the scent and consequently had missed the fact that there was not need to test what is already working well. The same holds true for the Geithner plan to take toxic assets off bank balance sheets. It is academic now. What banks are earning from the difference between the cost of capital and the income from lending is now great enough for the banking system to be self-sustaining again...
...analysts may not have the IQs of the PhDs who created mortgage-backed securities, but they did not do their detective work blindly when they insisted that bank balance sheets and loan portfolios needed close examination. It is also true that the private capital firms which plan to buy toxic assets using taxpayer money were not enticed into the new program based on an illusion. The banking system is still terribly weak and there is almost no one with an in-depth knowledge of the credit market tapestry who does not believe that there are hundreds of billions of Confederate...
...part of the morning presenting his outlook for the U.S. economy to a crowd of Moody's clients. Standing at a lectern under fluorescent lights, blinking behind his oval spectacles, he said the bank-bailout plan introduced by Treasury Secretary Timothy Geithner to encourage private investors to buy banks' toxic mortgage assets is a "reasonably good idea" that he thought would work. (Zandi says he would have preferred that the government buy the toxic debt so taxpayers could realize all the upside once the economy recovers.) He believes in aggressive government stimulus as a way to address economic crises...
...Korengal Valley illustrates how difficult the war in Afghanistan is - but also how it can still be won. Over the past nine months, Bravo Company, a 150-strong unit of the 1st Battalion 26th Infantry Regiment, lost seven men in the Korengal while trying to cool down a toxic cauldron of local insurgents, Taliban leaders, foreign jihadis and al-Qaeda members that has some calling this cedar-studded gorge the "Valley of Death." The villages of Korengal have had their losses too, but they are deaths mourned in secret. Elders say the Americans haven't killed a single innocent...