By Krishna Guha in Washington
Published: December 20 2008 05:01 | Last updated: December 20 2008 05:01
Hedge funds will be allowed to borrow from the Federal Reserve for the first time under a landmark $200bn programme intended to support consumer credit.
The Fed said on Friday it would offer low-cost three-year funding to any US company investing [...]
The only way to ease this pain is for our govt to invest in infrastructure and hire the millions of people who will lose these jobs…to invest in infrastructure will not be wasted like these bailout will.
the bailouts will not work as the problem is much too large now…we have 700T worth of derivatives out [...]
With the auto makers requesting $34 BILLION you could purchase 340,000 Tesla ultra high performance electric cars at $100,000, turn around and sell them at a 70% loss selling them for $30K, stipulate the buyer has to give up one gas burning vehicle, and it would cost the taxpayers ultimately $23.8 BILLION, resulting in a [...]
By Ed Welsch
Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)–Citigroup Inc. (C) said losses in its consumer loans could
rise between $1 billion and $2 billion each quarter from now through the first
half of next year, according to Chief Executive Vikram Pandit’s speech notes
released on the company’s Web site.
The notes reveal [...]
WASHINGTON (AP) — The Federal Reserve reported Monday that more banks are tightening lending standards on home mortgages, other types of consumer loans and business loans in response to a spreading credit crisis.
The Fed said t the percentage of banks reporting tighter lending standards was near historic highs for nearly all loan categories.
The survey, conducted [...]
Citi posts $5 bln loss on about $12 bln write-down
By Greg Morcroft, MarketWatch
Last Update: 6:56 AM ET Apr 18, 2008
NEW YORK (MarketWatch) — Citigroup, the nation’s largest bank, said on Friday it
lost $5.1 billion, or $1.02 a share, in the first quarter as it wrote down about
$12 billion of soured mortgage investments and other credit-related [...]
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