Today the real problem is that we still don't know where all the bad paper is.
From Wachovia to Citigroup, top executives have been axed lately as the industry suffers writedowns on bad paper.
Bank of America, which absorbed Countrywide Financial, the poster child of bad paper, has seen its stock go up 80% in three weeks.
Remember, five years ago the premise behind all the money printing was that it would be a temporary bridge to get over the difficulties created by banks owning more bad paper then their total capital worth.
Yes. my alma mater, where I cut my teeth on finance in the 1960s, is not blameless for its role in sticking public investors with some mighty bad paper that was doomed to lose its value before it was even issued.
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The failure to adopt radical new policies to jump-start the economy and in one fell swoop to resolve the insolvent bank situation by ridding the overhang of toxic bad paper "increases the risk of a further dramatic equity sell-off, " says Christopher Wood, CLSA emerging markets analyst.
We allowed ourselves to become hopeful about the national soccer team competing in this year's European Championships, mostly on the peculiar grounds that the team looked so bad on paper that it was almost certainly going to surprise us all.
When Dempsey knocked out Firpo, you could sell 'em for a quarter -- people wanted the paper that bad.
Demand for Anadarko paper appears immune from bad news, but as a contender for a positive ratings change, investors appear willing to keep on adding its paper to their portfolios not withstanding a decline in the price of crude oil ushered in by an announced supply increase in the Middle East over the weekend.
There is a wide consensus among doctors that passive smoking is bad for health, although a paper published in the British Medical Journal did raise doubts about the link.
Such deflections are not necessarily bad, according to a new IMF discussion paper by Mr Ostry, Atish Ghosh and Mr Korinek.
That today's mergers seem strongly correlated with the resilience of the stockmarket is itself a bad sign: when takeovers using highly rated paper are easy and cheap, the strategic thinking behind them tends to be easy and cheap too.
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While bad ballot design has been blamed, Stewart says a paper ballot would have been the only way to be sure.
Not bad for a song written on the back of a paper sack.
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No one supports the cuts, and that's why no amount of planning can paper over the fact that the cuts are bad policy.
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Put simply, Wall Street can't successfully bring bad guys to our markets unless your public employees buy their paper.
As if that were not bad enough, Tsuyoshi Hondou, a physicist at Tohoku University in Japan, published a paper in 2002 that gave commuters yet another reason to feel uncomfortable.
After all, even after the relief provided by the first batch, the banks' bad-loan ratio still stands at 22%, according to Guonan Ma and Ben Fung in a recent paper for the Bank for International Settlements.
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