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In a statement, the finance ministers said that backstop mechanisms would aid struggling banks.
Indeed, S&P warned that the EFSF's credit rating would be downgraded along with the countries that backstop the facility.
Even that backstop seemed in doubt on Friday after the Group of 20 meeting broke up apparently with little progress on Europe's debt problems, aside from the decision to have the I.M.F.
In the 12 years since its inception in 2002, insurers have made roughly $40bn from government-guaranteed terrorism insurance, without having to pay a dime on any claim or give the government anything in exchange for that backstop.
Berlin will want the chance of that backstop's ever being used to be virtually zero.
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McLean accurately reports that the Obama Administration would like to formally do away with Fannie and Freddie, and the leading bipartisan solution (the Corker-Warner bill) would as well, although with a government guarantee that backstops private insurers after 10% of losses have been absorbed.
To help stem the torrent of complaints from MF Global's clients, CME pledged what amounted to an insurance policy that would backstop the fund shortfall.
In a follow-up question, though, he allowed that the backstop could not be used to cover general obligations, the investors said.
A G.E. spokesman said that a backstop to Mr. Hogan, who had led GE Medical's e-commerce efforts, would be named soon.
Bob Diamond at Barclays had come closest to a deal, but even he had come back to the Treasury demanding that it backstop Lehman's trading positions until he could arrange a vote of Barclays shareholders.
In 2007, they were asked by a solar panel manufacturer to come up with some insurance that would backstop the 20- or 25-year warranties that prospective customers were demanding.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com