Word: prices
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How/who will determine how much to pay for these securities? They haven't really figured that out yet. One possibility would be to hire private managers who would get a share of any profits. And there's lots of talks about using various auction methods to price them. But I have yet to hear a really convincing explanation of how this would work...
...limits. American Express typically cuts the credit limit on about 4% of its members in any given year. That figure now stands closer to 10%, as the card company takes a hard look at customers' credit profiles - including data on who lives in the areas with the most house-price deterioration...
...Tuesday, France, Belgium and Luxembourg said they'd pump $9.2 billion into troubled bank Dexia after news of its U.S.-linked losses sent its share price falling 30%. That followed Sunday's announcement that Fortis, the Dutch-Belgian insurance and banking giant, had been partially nationalized through a $16.4 billion injection from the three Benelux governments, each of which will acquire a 49% stake in operations in their respective countries. In Britain, meanwhile, the government announced this week it had taken control of problem mortgages from Bradford & Bingley, Britain's second biggest mortgage lender. Despite those moves amid the spreading...
...president of the group. Modi said that the group held short positions on several baskets of securities that contained industries affected by the market plunge on Monday. This instance of short selling—a strategy that allows traders to profit from the decline in the price of a stock—is not covered under a recent ban by the Securities and Exchange Commission on certain types of shorts. Unlike some other investment clubs, Acumen seeks more than just practice from their relatively modest foray into the world of financial management: they hope to make a profit. Modis said...
...supporters of the plan - which had been crafted by Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke - argued that as painful as it would be to commit such an unprecedented amount of taxpayer money to cleaning up Wall Street's mess, the price of not doing it would be even greater, because the crisis would spread to hurt ordinary businesses and their workers. Supporters of the plan argued that the only way to keep the financial system operating was to have the government buy the junk assets in order to take them off the balance sheets...