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Banks Being Shaped by Government Scrutiny, SupportOut of the three pillars that constitute President Obama's reactivation plan: increasing private consumption, stopping foreclosures, and strengthening banks -- the latter is perhaps the most crucial. After all, credit is the key to stimulating consumption, which represents almost two thirds of the whole U.S. economy. However, lending keeps falling, despite the substantial support the government has bestowed on the banks. |
As Regulation Increases, Geithner Ponders 'New Rules of the Game'During the last six weeks, the government has displayed extraordinary activism. Last week, the U.S. government announced another component of the proactive method that it is applying to overcome the recession, which has now become a worldwide recession. |
Case-Shiller Index Indicates Continued Housing Price Free FallFor 20 major markets, the housing market decline was even steeper in January than it was in December, according to a report released Tuesday. Standard & Poor's Case-Shiller Home Price Index, a closely watched measure of 20 major cities, dropped 19 percent in January 2009 from January 2008. |
Legacy AssetsWith the Public Private Partnership Investment Program, the U.S. Treasury has announced the most ambitious component of the multiple pronged attack against the recession in the U.S. economy, which has dragged the world economy into the worst setback in sixty years. |
What is a Toxic Asset?The White House announced today its plans to team up with private investors to buy a possible $1 trillion of toxic assets in order to unclog the banks and the credit markets. Also called "legacy assets" by the Obama administration, toxic assets are basically loans and mortgages from banks that have little hope of being repaid. |