Too bad Best Buy waited so long to finally do something about it.
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The proposal would have seen the government buy bad debts from US banks to prevent more of them collapsing.
Under the circumstances, it's a bad bet to buy long-dated bonds.
In fact, the effort to recruit private investors into a government-led campaign to buy bad assets from the banks is still, at best, half a plan.
The administration proposed nothing more than twice a year reports on what it was doing with its authority to buy bad debt from troubled financial institutions.
It has also invited domestic banks, foreign banks such as Merrill Lynch, and even the best domestic corporations, to invest in asset-management companies that would buy bad loans to liquidate them at a profit.
An insider trying to buy in shares would benefit from a bad reputation, since he could buy more cheaply.
Instead, you should do your research, avoid the bad stocks, and buy only the good ones.
The plan would direct the federal government to buy up bad mortgage loans from banks and homeowners.
Under the plan, the government would buy up bad mortgage loans, converting them into low-interest, FHA-insured loans.
Why not buy out bad managers and let your brilliant young consultants rebuild their companies from the ground up?
They will sell on bad earnings results, buy on earnings surprises, and generally throw their original portfolio construction plan away.
The original idea was for the government to buy up bad mortgages and other assets and to take them off the hands of troubled banks.
The money from the TARP went to fill gaping holes in their balance sheets, rather than the original plan to buy up bad assets, freeing the banks of toxic obligations.
Of the 2.6 trillion won of profit that they made before provisioning, a large chunk came from interest on bonds that the government handed out, either to recapitalise the banks or to buy their bad debts.
If the cycle of falling asset prices, insolvency and credit constriction is excessive, the government may have to step in and buy up bad assets en masse, as has often occurred in other financial meltdowns (see article).
As with tainted spinach or lettuce--and even though, as a proportion of the whole, only a minuscule amount may be bad--no one will buy any of it until it's known where the bad produce is.
The next step would be to print money to buy all the bad debt, which would cause the yen to plunge to its lowest level in decades.
Best Buy also looks bad in terms of its EBITDAR margin (in calculating EVA, we add rent to EBITDA because we add the value of leases to capital).
Paulson and Fed Chairman Ben Bernanke, a historian of the Depression, led the charge for the government to buy up the bad assets and, they hope, reignite lending.
Shares of this soon-to-be-independent company seem likely to be a classic opportunity to buy low during bad times in order to, hopefully, sell higher later on, when times are better and everybody loves educational publishing.
Instead of wiping out the lenders for the overall benefit of the economy, we wiped out the borrowers and printed money so the government could buy up all the bad loans from the banks.
And even though we know better, we buy those things that are bad for us anyway.
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Bad news also accompanied another big guru buy--Athens, Greece-based DryShips (nasdaq: DRYS - news - people ).
Sort of the same way a person with bad credit pays higher interest rates to buy a house or a car, Fannie Mae's credit was messed up.
Bad news also accompanied another big guru buy--Athens, Greece-based DryShips.
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