Pandit's Amortization Trial Balloon: Can It Float US Out of Crisis?
At yesterday’s congressional hearing Citigroup’s (C) CEO Vikram Pandit floated what looked to me like a trial balloon that may turn out to be the path out of the credit-induced economic crisis and in the process put to bed the doomsayers' chatter about insolvent banks. In reply to a question from Congressman Gutierrez from Illinois -- who started off referencing a meeting the congressman and Mr. Pandit had the day before -- Mr. Pandit with an intriguing smile on his face described what sounded to me like an amortization scheme in which the mark-to-market created losses for certain assets could ...
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