“Institutions”
NYT: “As officials at the Treasury Department raced on Friday to draft legislative language for an ambitious plan for the government to buy billions of dollars of illiquid debt from ailing American financial institutions…”
Why are finance companies called institutions? When major tech companies go out of business due to bad management we call them companies. Imagine saying “technology institutions such as Pets.com are unstable”. But then who’d bail out a company when you can call it an institution?
