By Ronald D. Orol
WASHINGTON (MarketWatch) — The Treasury Department on Wednesday said it is challenging for government officials to understand how financial institutions participating in a $700 billion bank bailout program are using the capital they receive. “Each individual financial institution’s circumstances are different, making comparisons challenging at best, and it is difficult to track [...]
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Magnetar Said to Limit Client Withdrawals After Fund Loses 30%
By Saijel Kishan
Dec. 22 (Bloomberg) — Magnetar Capital LLC, the $8 billion hedge-fund firm co-run by former Citadel Investment Group LLC trader Alec Litowitz, limited withdrawals from its biggest fund after it lost 30 percent this year through November, according to two people familiar with the [...]
The SEC had a duty to act and willfully failed to do anything. This makes them legally culpable for the outcome. The SEC was repeatedly warned about irregularities in Madoff’s operation and did nothing about it. The good old boy network protected Madoff and looked the other way. Everyone involved in the supposed investigations of [...]
1. A number of banks that received TARP funds did so only because the Treasury and Fed insisted that they accept these funds. Is it reasonable to suggest that these banks, that did not want to participate in TARP, undertook some special obligation to make loans when they accepted TARP funds?
2. The Treasury, in exchange [...]
Our government, and the corporations and banks that control them, endlessly beat into us the “importance of money”, first through flooding the market with easy money, then by withdrawing it.
Boom and bust.
The neverending pillaging of the working/middle class.
Did you earn something?
Don’t worry, first we’ll make your assets worthless, then we’ll inflate your currency to worthlessness, [...]
Something I don’t get about the unemployment figures being touted if Big 3 don’t get their bailout…I understand that most of the threatened jobs come from the support industries–parts makers, dealers, etc. But I ask: Won’t these jobs be lost regardless of what happens in DC this week?
If the bailout requires Big 3 to essentially [...]
Craziest thing I’ve ever seen. That and the 10-year falling below 3%.
The US government is making cash worthless. They’re FORCING the market out of bonds, and into riskier assets. They’re making it real attractive for people to refi, and not default on their homes. They’re making money real, real, real cheap. And they’re FORCING savers [...]
Commentators in regard to the Citigroup bailout so far have not mentioned the haste of this bailout or the need for this bailout.
As of last Friday there was no sign that there was an immediate need for large amounts of taxpayer funds to “save” Citigroup. Citigroup stock had fallen as well as the stock of [...]
By SCOTT MAYEROWITZ
ABC NEWS Business Unit
Nov. 25, 2008
Wall Street might have been happy with the government’s latest multibillion-dollar banking intervention, but many small community banks are asking for equal treatment.
“I guess appalled is not too strong a word,” Cindy Blankenship said to describe her feeling after learning of the government’s help for Citigroup. Blankenship and [...]
NEW YORK (Dow Jones)–Citigroup (C) survived last week’s stock plunge with its
earnings power intact and, with the governments move last weekend to boost the
giant banks capital levels and insure billions of dollars in assets, is able to
absorb future losses without further help, Chief Executive Vikram Pandit said
Tuesday in an interview with Charlie Rose.
The intervention over [...]
The government would absorb much of the losses for Citi if there are losses and Citi would issue preferred stock to the government. The deal is not finalized but could be announced tonight.
While the Feds could buy more than $100 billion nominally in the bad assets if the plans go through, that doesn’t mean it [...]
- Crashing prices will help the vast majority of people double, triple, quadruple their standard of living.
- Those who lived above their means by borrowing against assets in the form of mortgages, HELOCs, car loans, leased cars, credit cards, etc, will be knocked down to a much lower standard of living than those who saved [...]
Reuters
Tuesday, Nov 18, 2008
Dutch insurer Aegon said it may buy a small U.S. thrift company to qualify for potentially more than $1 billion in U.S. government support, sending its shares down more than 8 percent.
“This is part of our strategy to ensure Aegon has the strongest capital position possible,” said Aegon spokesman Greg [...]
What higher CC rates mean is that more good folk will be pushed over the edge, increasing CC defaults. This will further weaken Citi, et al, who will then increase rates further, pushing more good folk over the edge…etc.
Remember: When push comes to shove, and it’s food for the kids vs. paying CCs, walking [...]
NEW YORK (MarketWatch) — Circuit City Stores on Monday said it filed for protection from its creditors under Chapter 11 of the U.S. bankruptcy code. The Richmond, Va. company said it negotiated a commitment for $1.1 billion in debtor financing. “(The) company intends to build on recent efforts to streamline the company and create a [...]
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