In Latest Outlook, Sifma Split on Housing, Bailout Views

The yearlong U.S. recession will likely continue until mid-2009, a group representing hundreds of securities firms, ... favored federal loans over alternatives such as direct equity ownership. Of those members who favored loans, all also favored requiring conditions such as restructuring, consolidation and creditor [more...]

Date: 2008-12-15 11:05:00

Blog posts (5) | Videos (14)
 

The Failure of the Bailout

The Bailout That's Failing The federal rescue may have saved the banking sector, but it hasn't fixed the housing market. Last October, the Federal Reserve, the Treasury Department, the Federal Deposit Insurance Corp., and Congress deployed every weapon in their arsenal, and invented some new ones, to stanch the financial panic: loans, subsidies, direct bailouts, free money, the TARP. In so doing, they exposed taxpayers to massive immediate and potential liabilities. [more...]

Date: 2009-09-28 05:41:00

Six Fed Banks Sought Sharp Rate Cut

The size of the Federal Reserve’s interest-rate reduction last month surprised markets ... banks, which make direct loans to commercial banks in their districts, vote periodically on where ... , Minneapolis and San Francisco — voted December 11 to lower the discount rate (for direct Fed lending [more...]

Date: 2009-01-13 11:24:00

BofA Needs to Cut its Dividend

BofA Needs to Cut its Dividend Posted by: Matthew Goldstein on January 15 Bank of America reportedly needs billions of dollars in additional federal ... mortgage-backed securities and ailing consumer loans. In taking over Citi and winding down ... to expend much money—allowing the government to direct more money to banks with healthier balance sheets [more...]

Date: 2009-01-15 13:37:00

Prosecutors Present Evidence of Fraud in Cioffi Case

Ahead of a scheduled trial next month, prosecutors have identified “direct evidence” that they say shows a former Bear Stearns hedge fund manager, Ralph Cioffi, used his investment in a fund he controlled to obtain a $4.2 million line of credit for a Florida real estate project. In a series of filings in Federal District Court in Brooklyn last week, prosecutors said Mr. Cioffi fraudulently pledged assets in the hedge fund he ran as collateral for a real estate loan from Busey Bank. [more...]

Date: 2009-09-28 20:39:53

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