The administration of US President Barack Obama is crafting new financial bailout initiatives in a way it believes will allow firms receiving funds to avoid restrictions imposed by Congress, the Washington Post reported yesterday.
The administration believes it can sidestep the rules because it has in many cases decided not to provide federal aid directly to the financial institutions, the Post reported, instead setting up special entities that act as middlemen to channel the funds.
The administration has concluded this approach is essential to persuade firms to participate in programs funded by the US$700 billion-plus financial rescue package, the newspaper reported.
Experts are questioning the legality of the strategy, the Post reported, which would require recipients of government money to turn over ownership stakes to the government and limit sometimes lavish executive pay.
While the strategy has so far attracted little scrutiny from lawmakers, the Post cited one lawmaker as saying conditions imposed by Congress should apply to all firms receiving government bailout funds.
Representative Edolphus Towns, chairman of the US House Oversight and Government Reform Committee, said he planned to review the administration’s actions and might seek to undo them.
“We have to make certain that if they are using government money in any sort of way, there should be restrictions,” Towns told the Post.
Quanta Computer Inc (廣達) chairman Barry Lam (林百里) is expected to share his views about the artificial intelligence (AI) industry’s prospects during his speech at the company’s 37th anniversary ceremony, as AI servers have become a new growth engine for the equipment manufacturing service provider. Lam’s speech is much anticipated, as Quanta has risen as one of the world’s major AI server suppliers. The company reported a 30 percent year-on-year growth in consolidated revenue to NT$1.41 trillion (US$43.35 billion) last year, thanks to fast-growing demand for servers, especially those with AI capabilities. The company told investors in November last year that
Intel Corp has named Tasha Chuang (莊蓓瑜) to lead Intel Taiwan in a bid to reinforce relations between the company and its Taiwanese partners. The appointment of Chuang as general manager for Intel Taiwan takes effect on Thursday, the firm said in a statement yesterday. Chuang is to lead her team in Taiwan to pursue product development and sales growth in an effort to reinforce the company’s ties with its partners and clients, Intel said. Chuang was previously in charge of managing Intel’s ties with leading Taiwanese PC brand Asustek Computer Inc (華碩), which included helping Asustek strengthen its global businesses, the company
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TikTok abounds with viral videos accusing prestigious brands of secretly manufacturing luxury goods in China so they can be sold at cut prices. However, while these “revelations” are spurious, behind them lurks a well-oiled machine for selling counterfeit goods that is making the most of the confusion surrounding trade tariffs. Chinese content creators who portray themselves as workers or subcontractors in the luxury goods business claim that Beijing has lifted confidentiality clauses on local subcontractors as a way to respond to the huge hike in customs duties imposed on China by US President Donald Trump. They say this Chinese decision, of which Agence
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