Word: rescuees
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This makes little sense. Since the credit first passed last year, the logic of our financial rescue has evolved. The panic phase - the time when so many felt government had to act boldly and at any cost - has passed. Slowly, the free market is easing back in. Consider the federal...
None of this is simply academic theorizing. One year on, public fury about the massive banking bailouts continues to drive calls for greater oversight and regulation. Much of the outrage is directed at bankers who earned huge bonuses by taking outsized risks with complex financial instruments, only to walk away...
Last week, Federal Reserve Chairman Ben Bernanke said the recession is probably over. But that hasn't halted the Treasury Department from continuing to dole out billions of dollars to financial firms. The latest installment came two weeks ago, when the Treasury sent nearly $75 million from the Troubled Asset...
Journalists often stand accused of neglecting good news in favor of bad. And on Monday evening, some of the most eminent names in British journalism seemed frankly perplexed at how to handle a piece of good news: namely, that their employer, the Observer, had been saved from the chop. They...
The most difficult task for Washington will be boosting the weak and unpopular civilian government, especially in its control over the military. Dire economic conditions have improved over the past year through international assistance. An enhanced $11.3 billion International Monetary Fund rescue package has helped dampen inflation overall, but there...