Word: unpaid
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...theory, a financial stress test looks at a firm's loans, assesses which will go bad and then concludes whether the bank will have money left when those accounts go unpaid. Pretty clear...
...Merrill Lynch superman John Thain spent $1,405 on a trash can and suggested he deserved a $40 million bonus for losing $15 billion in the fourth quarter. Even Tom Daschle, whose loyal Senate brethren were set to confirm him to the Cabinet, discovered the radioactivity of the phrase "unpaid taxes on his chauffeured limousine...
...billion stimulus measure through a potentially ornery House-Senate conference, firm up support for a wildly unpopular financial reform package known as TARP 2, and find a replacement for Tom Daschle, who took himself out of the running for health care czar last week amid revelations of unpaid taxes...
...from 65 servicers, found that of modifications completed last August and September, 42% kept the monthly payment the same and 18% actually raised it. An analysis of 3.5 million sub-prime and Alt-A loans by Valparaiso University's Alan White found that 68% of modified loans tacked on unpaid interest and fees, adding an average $10,800 to the balance due. A lender that caps the existing interest rate on an otherwise adjustable mortgage or reamortizes missed payments over the life of the loan might legitimately view its efforts as giving ground to a struggling borrower - but that doesn...
...that is why Tom Daschle had to go. If he hadn't jumped, Obama would have had to push him, even though Daschle was a mentor and close friend. It wasn't just the unpaid taxes. And it wasn't just that two other Obama Administration officials had neglected to pay their taxes as well. It was the lifestyle, and the choices Daschle made. It was that he had given speeches worth $200,000 to health-care-industry groups that he would have had to regulate as Health and Human Services Secretary. It was that he made $5 million...