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Treasury Department expresses sacremento kings and Fed players kings spells out havealso discussed leaving troubled assets on banks’ balancesheets, but giving them some sort of government insurance wrap,similar to the approach used for the Bank of America (BAC.N)deal announced earlier on Friday This idea was also broachedby Bernanke on Tuesday Kings . Bank of America is receiving a federal backstop against$118 billion of bad assets it holds, as well as $20 billion infresh government capital, as part of an aid package designed tohelp it absorb Merrill Lynch & Co. “We’ll support any approach that we think is effective,”said Bair, who is expected to stay on as head of the FDIC afterPresident-elect Barack Obama takes office on Tuesday The U.S. Treasury has already committed more than half ofthe $700 billion fund, and a vote by the Senate on Thursdaycleared the way for the final $350 billion in funds to flow. Bair said an “aggregator bank” would be capitalized by thesecond half of the $700 billion TARP fund. She said it would besimilar to the Resolution Trust Corp, which liquidated almost$400 billion in assets from more than 700 insolvent savings andloans from 1989 to 1995. The top bank regulator also said the government couldrequire that banks also raise a portion of private equity ifthey want to sell troubled assets to the aggregator bank kings.com .
“People on the street tell me that private equityinvestment is holding back now because they don’t know what thetail risk is,” she said sacramento kings baby . Paulson said he believed a substantial portion of thesecond half of TARP funds should be used to help shore up bankcapital heat kings nba.com – kings . With their balance sheets clogged by nonperformingassets, banks have been struggling to raise private funds timberwolves kings Kings tickets . Bair said she is unsure whether the government willcontinue to have to step in to boost financial firms’ capitallevels monarchs kings .
“I hope that further capital injections will not benecessary, but I will not rule out the possibility that theywill be needed,” she said utah jazz sacramento kings . She also said the Obama administration is working very hardon a home foreclosure prevention efforts that would use a”significant portion” of TARP funds divac kings Sacramento Kings tickets . “I think they’re committed to getting something up andrunning very quickly,” Bair said bulls kings Kings tickets – nba Sacramento Kings – wikipedia . (Writing by Karey Wutkowski and Tim Ahmann) Stocks Regulatory News Mergers & Acquisitions Bonds Funds News ETFs News stojakovic kings . PIMCO Strategic Global Government Fund, Inc.
Reports Results for the FiscalQuarter and Nine Months Ended October 31, 2008NEW YORK, Jan . 16, 2009 (GLOBE NEWSWIRE) — PIMCO Strategic Global GovernmentFund, Inc kings team . (the “Fund”) (NYSE:RCS), a non-diversified, closed-end managementinvestment company which as a primary objective seeks to generate, over time, alevel of income higher than that generated by high-quality, intermediate-termU.S pistons kings . debt securities and a secondary objective, seeks to maintain volatility inthe net asset value of the shares of the Fund comparable to that ofhigh-quality, intermediate-term U.S . debt securities, today announced itsresults for the fiscal quarter and nine months October 31, 2008.At October 31, 2008——————- Net Assets$300,497,603 Shares Outstanding38,031,744 Net Asset Value (“NAV”)$7.90 Market Price $9.65 Premium to NAV 22.15% Quarter ended October 31, 2008 —————- Net Investment Income (a) $7,950,187 Per Share (a)$0.21 Net Realized and Change in Unrealized Loss (a)$(48,785,748) Per Share (a) $(1.28) Undistributed Net Investment IncomePer Common Share (b)(c) $0.3897 Nine Monthsended October 31, 2008 —————- Net Investment Income (a)$24,588,204 Per Share (a)$0.65 Net Realized and Change in Unrealized Loss (a)$(76,171,272) Per Share (a) $(2.00) (a) The information provided is in accordance with generally acceptedaccounting principals (“GAAP”), which requires the Fund to treatamounts accrued under swap agreements as net realized andunrealized gain (loss). However, these amounts are treated as net income (loss) for federal income tax purposes.By using GAAP, Net Investment Income for the fiscal quarter and nine months ended October 31, 2008 was $(244,948) (less than $(0.01)per share) and $6,702,598 ($0.18 per share) (higher) lower,respectively (and Net Realized and Change in Unrealized Losscorrespondingly (higher) lower), than those figures would havebeen if swap amounts were treated as net income (loss) inaccordance with federal income tax treatment. (b) Note that generally there is a close correlation between what the Fund earns (net of expenses) and what it pays in monthlydividends.
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