Word: toxication
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...stop the economy's deflationary spiral, President Obama and Treasury Secretary Tim Geithner need to get toxic assets off banks' balance sheets so the banks can start lending again. With much fanfare and after much delay, Geithner on Monday unveiled the details of the government's "public-private" collaborative plan to make that happen...
...stock market tanked and his image went with it. To give his plan a chance this time, Geithner had to show private investors they could make money partnering with the government to buy troubled loans, and the complex securities based on them, from the banks. (Read "Plan to Buy Toxic Bank Assets Delayed Again...
...Geithner spent the first part of the press conference talking about all the other programs he and the rest of the federal government have so far unveiled: help with housing, consumer loans and stabilizing banks balance sheets with direct infusions of cash. When he finally rolled out the toxic asset plan itself - in three separate parts - he carefully packaged the shakiest component with ones the market was more likely to have confidence...
...Geithner got to the "Public Private Investment Fund" for the securitized assets now clogging the banks' books. The plan envisions creating five investment funds under five outside asset managers. Those managers will get dollar-for-dollar matching investments from the government to buy what were once triple-A rated toxic assets from the banks, and can apply for loans from the government to further leverage their purchases...
...companies," said Scott Talbott, vice president of the Financial Services Roundtable, which represents Wall Street's interests in Washington. "The loss of these employees will weaken TARP companies." The compensation crackdown already has other private sector players thinking twice about partnering with the Administration to help unload the banks' toxic assets and get the credit markets moving. (Read "Freddie Mac: Government's New Black Hole...