Word: systemize
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...Bernanke and Paulson were doing what they thought was necessary to prevent what they viewed as a possible catastrophic failure of the national and perhaps global banking system. If Merrill Lynch had been left on its own to suffer huge fourth quarter losses, it might have faced a fate like that of the departed Lehman. Morgan Stanley (MS) nearly had the same set of problems until the Japanese financial house Mitsubishi UFJ agreed to honor a commitment to put $9 billion into the U.S. investment firm. Whether their presumption was right or not, it appears that Paulson and Bernanke believed...
...Saving the banking system was not Lewis's job. Bernanke and Paulson had no right to ask him to abandon what were his very clear duties and press him into service doing something contrary to the obligations of his office. Since there will never be answers to what would have happened if B of A had abandoned Merrill it is useless to speculate about whether Paulson and Bernanke did the right thing. What happened when Lewis was asked to take a role which was not reasonably his is that the ethical obligation of refraining from force to pervert another person...
Treasury Secretary Timothy Geithner got at this in congressional testimony on April 20. "Indicators on interbank lending, corporate issuance and credit spreads generally suggest improvements in confidence in the stability of the system and some thawing in credit markets," he said...
...smallest known exoplanet—a planet orbiting a star other than the Sun—announced Tuesday by European astronomers. The new planet, Gliese 581 e, is 1.9 times the size of Earth and 80 times smaller than the first exoplanet, which was discovered in 1995. The solar system where the planet was found is 20.5 light years away and can be found in the constellation Libra. Members of the CFA, which has played a major role in the search for exoplanets, heralded the discovery as momentous. “This discovery can be compared to what happened...
According to Pearson, there could be a rich and diverse ecosystem that thrives beneath the glaciers. She even suggested that there could perhaps be life on other icy planets in the solar system; below the Martian ice caps or in the ice-covered oceans of Europa, a moon of Jupiter...