Word: worthing
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...Baltics and points east. Whether its approach could work in the far larger and more complicated U.S. market isn't clear. Certainly the captains of Wall Street would bray over the mere hint of nationalization. But with hundreds of billions of dollars at stake, it might be worth, at the very least, a hard look...
...will the Federal Government know what price to pay for the mortgages it buys? It won't. Even on Wall Street, no one knows how much the mortgage securities are worth. The government will hire experts to determine their value, but because so many are "sliced and diced" concoctions - made up of pieces of literally thousands of mortgages created and peddled and pushed together by Wall Street - the soundness of the underlying loans will prove difficult to ascertain. Many members of Congress want to make sure the government pays fire-sale prices for the assets to protect taxpayers from...
...economy, the smaller the bailout will cost taxpayers. And it also depends on how the final bill is worded - the initial draft included ambiguous language that some observers have argued gives the Treasury power to spend more than $700 billion, as long as it isn't holding assets worth more than that at any one point in time...
...Morgan had the opportunity to potentially pick up businesses that were extremely profitable,” Bergstresser added, “but the question then and now is whether it was worth the risk that was taken on as well as the price paid for Bear. That remains to be seen...
...plan, but much of its scrutiny on Capitol Hill is, in fact, Congress doing what Congress does, albeit on a massive, once-in-a-lifetime scale. On any given day on the Hill well-heeled lobbyists graft slivers of language onto obscure bills, language that ends up being worth huge amounts to their clients. This week the U.S. financial system is going to be reordered on a scale unseen since F.D.R., and everyone has an interest in that, sometimes to the tune of hundreds of billions of dollars. In the massive bazaar of legislative trading that is the U.S. Congress...