B of A reports loss, gets more cash
by Rolfe Winkler, CFA The TARP was phase 1 of the bank bailout: give the banks cash to rebuild their capital ... 1: the government is absorbing losses on bad assets themselves. See Citi’s bailout in late November ... for credit-losses nearly tripled, while the company showed why it needed further help from the government [more...]
Date: 2009-01-16 15:09:12
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Now The US Steel Industry Is In Collapse and Looking For A Massive Government Bailout Of $1 Trillion
bangheadagainstwall To stimulate demand for the key commodity, a report said Friday. Output of steel has plunged 50 percent since September after posting record profits as construction and auto production have fallen sharply amid a US recession and the global credit crunch [more...]
Date: 2009-01-02 21:36:58
Treasury Opens Vault; Gangs of Robbers Rush In
As the fierce lobbying and politicking proceed on the government’s proposed bailout of banks and other lenders holding iffy paper ( ... and investment banks, ostensibly to relieve the so-called credit crunch. Other plutocrats resented ... to buy up bad assets of financial institutions.” So, the Times reports, the Financial Services [more...]
Date: 2008-09-22 19:49:44
BofA, Citi Report Losses
From the WSJ: Bank of America Swings to a Loss Bank of America Corp. swung to a fourth-quarter loss as provisions for credit-losses nearly tripled, while the company showed why it needed further help from the government to support its acquisition of Merrill Lynch [more...]
Date: 2009-01-16 13:20:02
If It Stops Moving, Subsidize It
Naturally, now that government plans to intervene in the economy with a massive stimulus package, everyone wants their “fair” share. Robert D ... that wouldn’t be there otherwise. A new report by the Information Technology and Innovation ... grid. And a Silicon Valley petition calls for a tax credit for companies that spend more than 80 [more...]
Date: 2009-01-06 03:15:11
Kremlin Declares its Sphere of Influence in Business
It is rational and logical for some governments to declare certain sectors of the economy as sensitive to national security, ... and shareholdings. Today Reuters reports (see below) on the announcement of Russia's list for 2009 ... site www.government.ru. "The main objective...is supporting their stability using not only credit [more...]
Date: 2008-12-26 15:20:56
Timothy Geithner: Obama's Teflon Treasury Secretary
by James Pethokoukis, USA News & World Report Who is Timothy Geithner that upon news of his impending nomination by Barack Obama, ... in creating the housing and credit crisis?" "How does tax policy affect economic growth?" "What should be done to fix Social Security?" "Should the government more directly aid homeowners?" "What is the growth [more...]
Date: 2008-11-26 16:32:17
GMAC Deal Boosts Auto Stocks
The government’s decision to provide $6 billion in financing to steady the lending arm of auto giant General Motors has jolted futures on ... credit rating needed for funding new loans to 621, down from the 700 limit established by GMAC two ... lousy report on home prices, as the S&P/Case-Shiller home price indexes fell to their March 2004 [more...]
Date: 2008-12-30 14:03:40
GMAC Deal Boosts Auto Stocks
The government’s decision to provide $6 billion in financing to steady the lending arm of auto giant General Motors has jolted futures on ... credit rating needed for funding new loans to 621, down from the 700 limit established by GMAC two ... lousy report on home prices, as the S&P/Case-Shiller home price indexes fell to their March 2004 [more...]
Date: 2008-12-30 17:03:00
Obama Plans Major Tax Cuts, Government Spending
It is becoming increasingly clear what President-Elect Barack Obama plans to do about the economic crisis currently ravaging the U.S. (and world) ... reports say that Obama wants tax cuts to make up 40% of a stimulus package which may be worth as much ... would see an immediate increase in their take-home pay. The $500 tax credit would apply to the first [more...]
Date: 2009-01-05 17:29:00
Despite The "Sudden Stop" Kazakhstan Won't Be Calling On The IMF For Help
"The Kazakh government is ready to step in,'' Kazakhstan's Prime Minister Karim Masimov said this morning in a telephone interview with Bloomberg " ... in Toronto say in a report only last week that, along with Latvia, the country's $100 billion oil-led economy is among the most vulnerable to the present global credit crisis and the skid-row economic [more...]
Date: 2008-10-21 10:18:00
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