Word: walles
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...still make it as a public company because a bankruptcy could be too messy for the Administration's tastes. According to The Wall Street Journal, "Key members of an ad hoc committee representing GM bondholders have begun preparing arguments against the auto maker's bankruptcy plan." The creditors may lose their attempt to get a better deal than being given debt in a company which holds the worst part of the GM asset base, but they can make the process prolonged and painful for the company and the Treasury. (See the 50 worst cars of all time...
According to The Wall Street Journal, "If confirmed, Mr. Allison will become point person for what has become an unpopular program. He'll have to defend plans for spending the program's remaining cash, and would likely represent the administration if it requests more bailout funds, which many observers expect." (See "Four Steps to Ending the Foreclosure Crisis...
...supposed to use the government assistance they receive. Lawmakers, who passed the $700 billion financial relief fund in October, originally pressured banks to use government money to make loans. But as the banks' conditions deteriorated and the economy worsened, those demands have faded. AIG, Merrill Lynch and other Wall Street firms have come under fire for paying out rich bonuses to executives despite receiving billions in government assistance. In response, lawmakers have tightened executive compensation rules for banks that have received TARP funds. While Goldman's profits are sure to raise eyebrows, it is not clear that it did anything...
...winners and losers of Wall Street...
...Eight-hole hitter Harry Darling hits a very, very hard single down the left field line that gets cut off before it hits the wall. No. 9 guy Brad Zapenas follows with a liner to the opposite field. First and third...