Tag Archives : toxic assets

The number of active ‘toxic assets’ in the balance sheet of banks around the world could reach $4 trillion, according to new forecasts to be issued by the International Monetary Fund (IMF). The institution headed by Dominique Strauss-Kahn estimated in January that US-originated assets could decline to $2.2 trillion by the end of next year. In its [...]

British Prime Minister Gordon Brown announced that the agreements resulting from the G-20 summit in London are not about mere words but a global plan of action to end the currently raging world recession. The immediately pledged measures from the world’s richest economies total $1 trillion. Some of the measures include: increasing the resources of [...]

Justifying his plans is Obama’s toughest ordeal at the moment. He and his team might just be passing through the eye of the needle after Treasury Secretary Timothy Geithner’s faux pas in not being able to avert the multimillion bonuses given to AIG executives. In reality, Obama’s litmus test is convincing people of his preparedness to deal with [...]