Word: underlyingly
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In December, Citi and the feds struck a deal to get the bank out from under the government's most stringent pay rules. Citi paid back $20 billion of the money the government lent the bank, and the Treasury Department agreed to declassify Citi as one of the firms deemed...
Under the Emergency Economic Stabilization Act (EESA), which was passed by Congress in October 2008 and which set up the $700 billion bank-bailout fund, the Treasury Department has the ability to officially deem which firms are receiving exceptional assistance from the government. At issue is executive pay. EESA requires...
Treasury considers that a firm has received exceptional financial assistance if it has received government aid outside of the initial $250 billion bank bailout, in which the government injected capital into financial firms in return for preferred shares and stock warrants. The list originally included AIG, Bank of America, Chrysler...
Such stories remain mostly confined to the media outlets of human rights and labor organizations, whose members operate under perpetual fear of arrest and intimidation. Iran's official media continue to portray Iran as a success story. Indeed, so does President Mahmoud Ahmadinejad. However, at Ahmadinejad's most recent press...
Five years ago, Ahmadinejad was elected as a problem solver, an engineer who would clear away old obstacles to a functioning and just economy. An initial flood of oil-fueled liquidity and openhanded lending at the beginning of the Ahmadinejad era has given way to a stagnant property market and...