Sentences with phrase «buying toxic assets»
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Wall St villains now saviours Wall Street fund managers - the very people blamed for the sub prime crisis that sparked the global economic meltdown - will be given an almost free ride to buy $ US1 trillion worth of toxic assets crippling the financial system.
https://www.businessnews.com.au/
March 23: U.S. Treasury Secretary Timothy Geithner unveils plans to buy as much as US$ 2 trillion in unwanted mortgages and other «toxic assets» from banks.
It seems the markets are buoyed again in the short term as the US government will eventual bridge the divide and start to buy up the «toxic» mortgage - backed assets.
Housing and credit markets were put on life support, with a market - based plan to buy U.S. banks» toxic assets.
The original proposal was that the federal government would spend many hundreds of billions of dollars buying up so - called «toxic» assets (tied to the collapsing real estate market) from financial institutions, so that they could shore up their balance sheets and prevent world credit markets from freezing up.
TARP was supposed to be a circuit breaker by buying up the toxic assets easing reserve and insurance requirements but so far not a dime of TARP money has been used to buy up those toxic assets it was billed as being for.
And in the wake of the government's announcement that TARP money won't be used to buy toxic commercial real estate backed assets, spreads on the CMBX - NA - AJ 5 index shot up to 1,156 basis points on Nov. 13, while spreads on the CMBX - NA - AA - 5 index went up to 2,051 basis points.