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Dark pools: An explainer

Jul 6, 2009
Dark pools are exchanges where people trade stocks anonymously. Senior Editor Paddy Hirsch explains how they work, and why the SEC is considering regulating them.

The 'repo' market

Jun 26, 2009
It's a vital part of the financial system, and the government is considering changes to it.

Meet Cap 'n Trade

May 22, 2009
Cap and Trade is the linchpin of the government's effort to curb carbon emissions. Senior Editor Paddy Hirsch explains how the cap and trade model works.
Posted In: cap and trade, cap-and-trade

Capital structure

May 6, 2009
In stories about the auto companies and the banks, we've been hearing about debt-to-equity swaps and exchanging preferred shares for common stock. To understand how those work, you need to understand a company's capital structure. Senior Editor Paddy Hirsch explains.

Shadow banking: The primer

Apr 13, 2009
The shadow banking system is a key component of the U.S. economy, but the financial crisis has frozen it solid. Senior Editor Paddy Hirsch explains what shadow banking is and why it's important enough to warrant its own bailout, called the Term Asset-Backed Securities Loan Facility, or TALF.
Posted In: shadow banking

The public-private partnership

Mar 31, 2009
The U.S. Treasury Department plans to recruit private investors to take toxic assets off banks' balance sheets. Senior Editor Paddy Hirsch explains how the plan is supposed to work.
Posted In: U.S. Treasury

Collateral calls

Mar 24, 2009
Millions of Americans are wondering why AIG has paid so much taxpayer money to other banks. One reason is because AIG has had to honor "collateral calls" -- demands made by banks on the insurance contracts it's written. Senior Editor Paddy Hirsch explains,
Posted In: AIG, Banks

The Uptick Rule

Mar 12, 2009
Bankers have been debating bringing back the uptick rule for months, if not years. This week the debate made it to Capitol Hill. Senior Editor Paddy Hirsch gives a quick and dirty explanation of what the uptick rule is, and why it could be reinstated to turn the American taxpayer into one of Citigroup's biggest stockholders. Senior Editor Paddy Hirsch explains.
Posted In: Banks

Tangible Common Equity, or TCE

Mar 3, 2009
Tangible Common Equity used to be an obscure and rarely-used accounting term. Today it's one of the main motivators behind the government's decision to turn the American taxpayer into one of Citigroup's biggest stockholders. Senior Editor Paddy Hirsch explains.
Posted In: equity

Cramdowns

Feb 18, 2009
A debate is raging in Washington, D.C., about how to deal with America's foreclosure problem. One proposal is to restructure the loans using a tool usually seen in bankruptcy courts: The "cramdown." Senior Editor Paddy Hirsch explains.
Posted In: foreclosures

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