Word: voluntaryism
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The reality is very different. Between 2001 and '03, Obama repeatedly voted to oppose bills in the Illinois senate that would have declared, simply, that any child "born alive" as a result of an abortion shall be protected as a "human person" under the law. The bills broadly defined a...
What would that mean for banks, and how would the program function? First and foremost, the senior Administration official says, it would be voluntary. The banks would come to the government. Treasury would not pick the ones that look like they need help and offer it to them. "We're...
For now, Treasury is planning to pursue both direct infusions of capital and the purchase of bad assets to help clear the market. But outside observers already have qualms about a voluntary program. The consensus among experts seems to be that Treasury should shoot the wounded and let the surviving...
Rajaram's had been something of an immigrant-American success story. Born in India, he grew up in Bangalore and graduated in 1985 from the now famous Indian Institute of Technology in Chennai (formerly Madras). He went to Los Angeles to earn an M.B.A. from UCLA before working at Sony...
But the scale of the envisaged capital injections indicated how large the government anticipates the holes in banks' balance sheets may actually be. The market is also mulling the impact of the government's stipulation that banks participating in the scheme must restrict executive pay and dividends to other shareholders...