Word: worthlessness
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...regulation of global financial markets as it is of the relief of poverty. Climate change cannot be tackled by any one nation, or any group of nations, however rich and powerful they may be; any solution that does not include within its policy parameters India and China is worthless. (Read TIME's special report on The G-20, including an interview with Gordon Brown...
...report detailing how the major credit-ratings agencies abetted the subprime-mortgage meltdown. By wildly overestimating the quality of the dicey securities that Wall Street was churning out, the ratings firms helped investors load up on those securities - the same ones that are now, in many cases, near-worthless and clogging up the financial system. Plenty of people at the ratings agencies were aware of trouble brewing. In December 2006, a manager at Standard & Poor's e-mailed a colleague: "Let's hope we are all retired and wealthy before this house of cards falters...
...potential lending already, though only $9 billion in deals have been done so far. Geithner did not provide details of the terms of the loans or their size or duration, but the government said that investors would not be on the hook for those loans if the assets proved worthless. (See the worst business deals...
...Citi finalized its bonus program shortly before the new rules were introduced. That might make the payments permissible, though they could be made almost worthless by new tax rules just passed by the House of Representatives and headed for consideration in the Senate. Even so, Citigroup's move in January to set in place bonus payments for years to come raises questions about whether it was trying to evade compensation rules it knew were coming...
...been fixed. And who gets to keep the profit, if there is any? Does Uncle Sam let the private player keep it all, or does the government get some? How and when does the private player have to repay the government loan? And what if the toxic asset stays worthless - does the private buyer lose his money first, or does the government...