Word: unwindings
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...Also troubling: Wall Street veterans are complaining that banks and other investment firms - many of which are recipients of federal aid - may be taking advantage of the taxpayer bailout of AIG to boost their profits. "It seems very possible that the banks are forcing AIG to unwind its contracts at a premium," says James Bianco, who runs a financial-markets research firm in Chicago...
...coordinated stimulus. Aggregate demand in the world economy is shrinking as corporations, households and especially financial institutions rebuild their balance sheets and unwind the massively leveraged positions they took in the past 10 years. To put some heft back into the economy, the IMF has recommended an injection of demand equivalent to 2% of world output. The U.S. has taken the lead on a stimulus package, but some European nations - which tend to be wary of long-term national budget deficits - have balked at the size of the new resources required...
...oversight, however, ignore the potential damage that unregulated investing and high-risk betting can wreak. Unchecked hedge funds, unregulated derivatives traders, exotic trades, and obscure credit-default swaps all pose threats to the wider stability of the U.S. economy. Additionally, the government’s current inability to safely unwind financial institutions that pose systemic risk presents a gaping hole in federal resolution authority. Unfortunately, behaviors at hedge funds and on trading floors that pose substantial risk to all Americans have for too long been allowed to proliferate outside of the government’s gaze. Geithner?...
...Barvikha to unwind. You go there to experience life as it is lived by Russia's élite. This is where today's boyar and his 20-year-old girlfriend get facials and hydro-massages and sip lemon water in fluffy robes while having their toenails buffed. This is where you pay top-tier prices - say, $250 for a 21/2-hour treatment - simply to be with other members of Russia's ruling class...
...manage," the company announced in a document sent to the Treasury by Liddy. "This is one reason replacing key traders and risk managers would not be practical on a large scale. Personal knowledge of the trades and the unique systems at AIGFP will be critical to an effective unwind of AIGFP's businesses and portfolios." In other words, the guy who just stabbed the nation in the gut is the only surgeon who can stop the bleeding. (See the top 10 scandals...