A $13.4 billion emergency loan may be followed by $4 billion more in February if the new administration finds that the automakers meet conditions.
WASHINGTON — President Bush agreed to an emergency bailout of General Motors and Chrysler, giving them a few months to get their businesses in order, but left to President-elect Barack Obama the [...]
WASHINGTON (AP) — With Congress gridlocked and the economy floundering, the Bush administration declared Friday it would step in to prevent the ”precipitous collapse” of the U.S. auto industry and the disastrous loss of hundreds of thousands of jobs sure to follow.
A day after the sudden demise of rescue legislation in Congress, carmakers were talking [...]
Watching investors fleeing into the perceived safety of US Treasuries is akin to watching people board the Titanic in the movie - you know that they are doomed. This is because the United States is totally bankrupt - more than bankrupt in fact, since its debts are physically impossible to repay in any circumstances and [...]
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 [...]
BOSTON (MarketWatch) — The economy is in the tank, the stock market has been
suffering, it’s no fun dreaming of a tight(wad) Christmas, and yet here we are at
the end of November, supposed to be thankful for the bounty before us.
On the surface, that’s a daunting task. Being grumpy and concerned is easy right
now.
But it’s the [...]
By INVESTOR’S BUSINESS DAILY | Posted Friday, November 14, 2008 4:20 PM PT
Carmakers: Why not let the Big Three just file Chapter 11? It’s not a problem-free solution, but it beats using taxpayer money to prop up a failing union. Maybe that’s why Democrats seem to dismiss it out of hand.
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Read More: [...]
Some parts of the bailout plan being led by Assistant Treasury Secretary Neel Kashkari, are even finding unwilling participants. The American Bankers Association asked the Treasury Department for clarification about which banks should participate and how.
“Bankers across the country are extremely upset about the manner in which the CPP (Capital Participation) program is rolling out. [...]
1. Allocate your investments at 60%/40% stocks bonds, buy and hold, and you will have a comfortable retirement stash.
2. Maximize your 401K contributions, invest in high growth US stocks, add 10%-15% to overseas emerging markets, and you will have a comfortable retirement stash.
3. Do not panic in this market. Keep steady and ride this market [...]
Folks stopping these escalating foreclosures rates was the original goal by the 700 billion $$$ bailout plan, have we lost sight of that goal! Now we hear of wall st banks buying out there rivals with this money with Sec Paulson blessing too.
Rather than making the loans available we were told they were going [...]
I’m sure Paulson’s been involved in plenty of secret meetings with the heads of the biggest financial institutions. Paulson seems to be nothing more than a white collared gangster, a smart one but one none the less, using fear and leverage gained from his past dealings as head of Goldman Sachs when deciding the fate [...]
On bailout: “It’s an immoral system. You’re asking the poor people to bail out the rich”
In time, we’re all going to suffer from bailout with higher prices, congressman says
If creating more money was the solution, nobody would ever have to work, he says
U.S. Rep. Ron Paul, who has been an opponent of the government’s bailout [...]
An unintended consequence of propping up home prices, when they need to fall!!!!!
An auction that netted $7.5 million in bids on 56 distressed Utah properties fell through last week after the owners — three banks and two private lenders — decided they may get a better deal by holding out for the government’s bailout [...]
“The economy is pretty much showing what we thought all along — that we’re slipping into or already in recession,” said Sam Stovall, senior investment strategist at Standard & Poor’s.
“People question Monday’s rally and wonder whether it was a true rally, one to be taken with faith or just an opportunity to get out at [...]
SAN FRANCISCO (MarketWatch) — Federal regulators have ordered Fannie Mae and
Freddie Mac to start buying $40 billion of troubled mortgage bonds each month as
the U.S. government tries to revive the economy, according to a published report.
A story from Bloomberg News on Saturday reported Fannie (FNM) and Freddie (FRE)
began telling bond traders last week that each [...]
Not content to waste $700 billion of taxpayer money, Fannie and Freddie are going to waste another $40 Billion a month buying troubled assets.
Federal regulators directed Fannie Mae and Freddie Mac to start purchasing $40 billion a month of underperforming mortgage bonds as the Bush administration expands its options to buy troubled financial assets [...]
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