Approved

Congress OKs release of final $350B of bailout- AP “Congress laid the foundation for President-elect Barack Obama’s economic recovery plan on ... for the financial industry while majority Democrats proposed spending increases and tax cuts totaling a whopping ... but balance sheet solvent if it holds illiquid assets, particularly against short term debt. [more...]

Date: 2009-01-16 00:29:11

Blog posts (119) | Videos (44)
 

Moolanomy’s Past Articles By The Number

My family is going on a vacation for a few days.  We’re going as far south as Virginia Beach on this trip and I look forward to see the Chesapeake ... When I Went to College 7 Steps Debt Reduction Illustrated 7 Ways To Get A College Degree For Less 10 “Preparing For Baby” Tips For the Frugal-Minded 10 Baby Steps to Financial Recovery 10 Ideas To [more...]

Date: 2008-07-03 12:00:05

Financial Crisis

FINANCIAL CRISIS CURE It is a well-documented fact that the financial crisis was caused by corporations and individuals knowingly, ... amounts of further debt, the government can start a RECOVERY PROGRAM designed to identify [more...]

Date: 2009-01-10 04:15:40

Bankruptcy Rules Thwart the Recovery

As seen in the Wall Street Journal The epic financial crisis afflicting the banking industry in the last 18 months is largely the result of ... in this bear market, the prospect of a bankruptcy puts a huge damper on investor appetite for debt ... debt issued for scores of leveraged buyouts in recent years. This sorry state of affairs could [more...]

Date: 2009-01-13 17:44:29

Four challenges in Pittsburgh for the G20

Guest Author: Uri Dadush, Carnegie Endowment The Great Financial Crisis is far from over, but a stimulus-triggered recovery is now taking hold. The contours of the post-crisis economy are already emerging—from the sharply rising public debt levels in most industrial countries to the severely impaired balance sheets of banks and households in countries at the epicenter of the banking disaster, including the United States, the UK, and several smaller European countries. [more...]

Date: 2009-09-24 00:00:02

Two Very Different Views On What To Expect In 2009

From MarketWatch Doomsayers warn: ‘No recovery before 2010 …So first let’s review Shilling’s forecasts for 2009 ... s part of a growing chorus of experts who believe “the worst global financial crisis and deepest ... lack.) Sell emerging-market equities. Sell emerging-market debt. Sell stocks in general [more...]

Date: 2009-01-15 03:42:37

Nationalising the economy

Mandelson unveils business aid plan - Scotsman.com News The Financial Times said the Government would underwrite 50% of up to £20 billion of " ... available to viable small firms in sectors considered vital to economic recovery and that there would be a multimillion-pound fund to provide share capital in debt-laden small firms with promising futures [more...]

Date: 2009-01-14 06:46:41

Financial News Update – 09/29/09

World Bank Head Sees Dollar’s Role Diminishing Kennedy warns of potential violence over healthcare debate Andy Williams accuses Barack Obama of following Marxist theory Countrywide Destroyed Tapes with Public Officials Discussing Mortgages Cash-Strapped Police Department Outsources Report Writing Panhandlers need permits to beg in Raleigh FDIC says bank failures to cost around $100B Fisher: Fed Policy Reversal Could be Swift Income Gap Widens, Poor Hit Hardest by [more...]

Date: 2009-09-29 16:49:43

Correcting Mistakes and Punishing Errors

It is a gray morning, here in London. We sit in the building with the golden balls, look out the window, and wonder… …how does it all work? We’re doing some serious thinking this week. What is it that actually causes a depression? A stock market collapse? Or too much debt? How come government can appear to cure the problem sometimes – 2001-2007 – but not other times? How come the Japanese were not able to increase consumer prices? Even now… Japan’s inflation rate is negative. [more...]

Date: 2009-09-28 18:02:03

We Expect No Recovery from the Economy

It is a gray morning here in London. We sit in the building with the golden balls, look out the window, and wonder... ..how does it all work? We're doing some serious thinking this week. What is it that actually causes a depression? A stock market collapse? Or too much debt? How come government can appear to cure the problem sometimes - 2001-2007 - but not other times? How come the Japanese were not able to increase consumer prices? Even now...Japan's inflation rate is negative. [more...]

Date: 2009-09-29 04:01:41

Australia’s Premier Gold Bug Conference

This weekend's edition of the Daily Reckoning is a little unusual. Dr. Alex Cowie is on holiday in Queensland and I've only just returned from a publishing conference myself. And because I was travelling this week, I didn't write a full complement of Daily Reckoning notes. So instead of reviewing the week's events, I thought I'd tell you about a noteworthy phone conversation I had on Friday morning. "Australians are staking a lot on their understanding of what's really going on with gold. [more...]

Date: 2009-09-28 07:03:19

50%+ rally in the stock market but situation is getting much worse

We have enjoyed a +50 percent rally in the stock market yet this rally has been unable to create private sector jobs or stem the economic pain for most. Millions have seen their bills skyrocket, credit card interest rates hiked, hour’s cut, wages slashed, and are dealing with an accelerating decline in home prices (FL) and pitiful stock portfolios. In order to get a sustained recovery, consumer spending (70% GDP) will have to rebound sharply, which is not going to happen anytime soon. [more...]

Date: 2009-09-29 12:17:40

What Causes a Depression?

It is a gray morning here in London. We sit in the building with the golden balls, look out the window, and wonder… …how does it all work? We’re doing some serious thinking this week. What is it that actually causes a depression? A stock market collapse? Or too much debt? How come government can appear to cure the problem sometimes – 2001-2007 – but not other times? How come the Japanese were not able to increase consumer prices? Even now…Japan’s inflation rate is negative. [more...]

Date: 2009-09-28 18:49:54

Can Collection Agencies Sue Me For Outstanding Debt?

Amazon.de Widgets The question that many people are asking is ‘can collection agency sue for a debt?’ With the amount of people suffering financial hardship due to the current economic crisis the number of people facing difficulties paying their bills is increasing rapidly and for the time being, at least, this trend shows no sign of reversing.Previously, lenders who had borrowers that had fallen into arrears would normally, only go as far as to post negative credit information upon the debtors [more...]

Date: 2009-09-29 11:34:48

The Resignation of Gordon Brown, the British Prime Minister, today

Polly Toynbee (guest writer) (yes, that one.) ‘On the day when I became prime minister, I promised I would try my utmost. I have indeed worked night and day in the midst of the storm that has engulfed the world economy. I believe I have helped save this country from a depression as bad or worse than the 1930s. I have contributed to the global rescue of banks whose domino collapse threatened a terrifying meltdown. I encouraged a global fiscal stimulus that learned Keynes’ lessons. [more...]

Date: 2009-09-28 13:17:31

Prieur’s readings (September 29, 2009)

This post provides links to a number of interesting articles I have read over the past few days that you may also enjoy. • Caroline Baum, Bloomberg Bond traders are boubters, lemmings or sissies , September 28, 2009. Where are those gunslingers of yesteryear, ready at a moment’s notice to assert themselves in the marketplace, challenge the Fed on its easy-money stance and punish the federal government for its profligate spending? [more...]

Date: 2009-09-29 10:24:31

Prieur’s readings (September 29, 2009)

This post provides links to a number of interesting articles I have read over the past few days that you may also enjoy. • Caroline Baum, Bloomberg Bond traders are boubters, lemmings or sissies , September 28, 2009. Where are those gunslingers of yesteryear, ready at a moment’s notice to assert themselves in the marketplace, challenge the Fed on its easy-money stance and punish the federal government for its profligate spending? [more...]

Date: 2009-09-29 10:24:31

Market Commentary From Monty Guild

Dear CIGAs, The end of September is here.  We wish you a happy and healthy fall season in the northern hemisphere and spring in the southern hemisphere. THE G-20 MEETING Last Thursday and Friday, the G-20 meeting was held in Pittsburgh.  At this meeting, it was decided that world economic power, which had been the bailiwick of the eight G-8 countries, should be broadened to give more voice to twelve additional countries.  This gives the G-20 power to set world economic policies.  The [more...]

Date: 2009-09-29 19:30:43

Where has the Bailout Money Gone? Good Billions After Bad

Where has the Bailout Money Gone? Good Billions After Bad Vanity Fair by Donald L. Barlett and James B. Steele As the Bush administration waned, the Treasury shoveled more than a quarter of a trillion dollars in tarp funds into the financial system—without restrictions, accountability, or even common sense. The authors reveal how much of it ended up in the wrong hands, doing the opposite of what was needed. Just inside the entrance to the U.S. [more...]

Date: 2009-09-28 06:17:36

Pimco’s El-Erian Properly Frames the Financial Debate

Pimco CEO Mohamed El-Erian I am increasingly impressed by Pimco CEO Mohamed El-Erian. Why? I believe El-Erian consistently provides a thoughtful and informed opinion and analysis of the global economic landscape. I witness his sagacity again this morning in reading his Financial Times commentary, Return of The Old Ways of Thinking Threatens Recovery : We are at the point of maximum confusion in the multi-year transition of the global economy, markets and policymaking. [more...]

Date: 2009-09-29 13:34:51

FDIC Seeks Prepayment from Banks – Analyst Blog

In order to replenish the declining fund of the Federal Deposit Insurance Corporation (FDIC) that insures regular deposit accounts when banks fail, the agency may ask U.S. banks to prepay fees for three years. Under the plan, banks would have to prepay their insurance premiums of $12 billion a year for 2010-2012, for a total of about $36 billion. The fees could, however, vary somewhat according to growth in total insured deposits. The FDIC board will discuss the issue today at its public meeting. [more...]

Date: 2009-09-29 14:11:26

A Bias to Buy the Dollar

Well… Russia has thrown a cat amongst the pigeons this morning with a rate CUT… Let me tell you why this is a big deal… Well, everyone is thinking that the go-go countries of Norway, Australia, and Brazil will probably begin their rate hike cycles this year… While the US drags its feet and wallows in the zero rate mud… The thinking was that the rate differentials to the dollar would begin to widen, causing even more pain for the dollar. [more...]

Date: 2009-09-29 16:12:57

A Bias to Buy the Dollar

Well… Russia has thrown a cat amongst the pigeons this morning with a rate CUT… Let me tell you why this is a big deal… Well, everyone is thinking that the go-go countries of Norway, Australia, and Brazil will probably begin their rate hike cycles this year… While the US drags its feet and wallows in the zero rate mud… The thinking was that the rate differentials to the dollar would begin to widen, causing even more pain for the dollar. [more...]

Date: 2009-09-29 22:32:30

Money Returns to Hollywood, to Little Applause

A degree of financial fizz has returned to Hollywood, but the industry is showing uncharacteristic restraint in its celebration, The New York Times’s Brooks Barnes writes.On Aug. 17, Steven Spielberg secured $325 million in additional movie financing. Two weeks later, the Walt Disney Companyplunked down $4 billion for Marvel Entertainment. Universal is refinancing $1 billion in theme park debt. [more...]

Date: 2009-09-28 09:16:57

Gov. Rendell urges Milk Marketing Board to help dairy producers

HARRISBURG, Pa. — With Pennsylvania’s milk producers facing prices that are 40 percent lower than a year ago, Gov. Edward G. Rendell has written to the state’s Milk Marketing Board asking for their recommendations on how to help dairy farmers survive the unprecedented financial hardships. Bearing the brunt “Pennsylvania’s dairy farmers are bearing the brunt of historically low milk prices, coupled with historically high production costs,” said Governor Rendell. [more...]

Date: 2009-09-28 21:33:52

ScamBuste 286

NOTIFICATION OF PAYMENT VIA ATM CARD This is to officially inform you that we have verified your contract/inheritance file presently on my desk, and I found out that you have not fulfilling the obligations giving to you in respect to your contract payment. Secondly, you are hereby advised to stop dealing with some non-officials in the bank as this is an illegal act and will have to stop if you so wish to receive your payment immediately. [more...]

Date: 2009-09-29 08:54:51

Sellers of Tribune CDS Protection Face Large Payout

Matthew Cowley reports: The dire conditions facing media companies were highlighted by this week’s auction to settle credit derivatives ... agency, had already suggested that recovery values would be “negligible” for the bonds, at between zero and 10% for secured notes and debentures, senior unsecured debt, and subordinated debt [more...]

Date: 2009-01-07 09:50:00

Sellers of Tribune CDS Protection Face Large Payout

Matthew Cowley reports: The dire conditions facing media companies were highlighted by this week’s auction to settle credit derivatives ... agency, had already suggested that recovery values would be “negligible” for the bonds, at between zero and 10% for secured notes and debentures, senior unsecured debt, and subordinated debt [more...]

Date: 2009-01-07 09:50:00

Manhattan Inventory Stagnates - For Now

A: With Q4 in the books, we are getting the first glimpses of what happened to our marketplace in the period after the fall of Lehman and the gov't rescue of AIG. However, use caution when reading into these reports because they are lagging in nature & are still a bit skewed from new dev closings whose contracts were signed up to 18 months ago [more...]

Date: 2009-01-07 16:44:49

Gates of Vienna News Feed 1/5/2009

Read through the official European reactions to Israel’s ground offensive into Gaza: Zapatero, the Vatican, the Italian government — all are pressuring Israel for a ceasefire. The surprise is Dutch Prime Minister Jan Peter Balkenende, who states that it would be pointless to condemn Israel without addressing what Hamas is doing [more...]

Date: 2009-01-06 04:54:00

Economic Activity Picks Up.

By Christian Amstadter Here is some good information on the G-20 summit as well as some economic news that would affect the Mortgage Industry Copyright (c) 2009 Christian Amstadter This week in Pennsylvania, the G-20 summit began with a 2 day meeting. The economy is still vwery fragile and that is almost identical from what the Fed’s have said in the recent past. [more...]

Date: 2009-09-29 06:01:24

Thank you Taxpayer. Sincerely, Merrill Shareholders

From the Wall Street Journal In the end, investors and financial institutions could face as much as $2 trillion of losses from bad U.S ... from commercial real estate, credit cards, auto debt and business debt, and Goldman’s loan-loss estimate ... rescued both Merrill and Countrywide without government assistance. Mr. Lewis had also argued [more...]

Date: 2009-01-15 09:02:01

Rogoff on banking led recessions

I had read the research by Rogoff and Reinhart a couple of weeks ago forgot to blog about it and reader Thierry Janaudy resent it to me (thanks) ... recessions. They study real estate impact, equity impact, unemployment, GDP, public debt and duration ... read as it is mostly historical data, with no analysis and models. It is also very sobering. Below [more...]

Date: 2009-01-14 18:20:18

Re-coupled Vengence: From Downturn to Implosion Risks ?

We've spent a bunch of time on the US economic outlook and the news, as you'd expect, continues to move from bad to worse ... the shallowness of the analysts involved grasp. But that's no longer the problem. Accelerating worldwide ... for the European schadenfreude that this was "just" a US problem. Developing Countries They also issued [more...]

Date: 2009-01-15 21:20:15

Independent Report Declares Swiss Economy Stabilizing

A Swiss government-commissioned report published on September 22 suggests that the future is looking brighter for the Swiss economy, and for the wider global economy – but difficulties still lie ahead. According to the report, the global economy is recovering faster than anticipated, while in Switzerland the recession has slowed in Q2, and for the second half of the year a positive change is underway. [more...]

Date: 2009-09-28 09:17:41

Goldman Sachs Predicts Loan Losses Will Top $2 Trillion

Despite all the hoopla about stimulus plans and bailouts rescuing Americans’ home equity and retirement accounts, ... — the losses that investors and financial institutions are potentially sitting on from bad loans… ... of $780 billion. Add in losses from commercial real estate, credit cards, auto debt and business [more...]

Date: 2009-01-15 23:05:05

Posts about ACORN as of September 28, 2009

Massive Voter Fraud In NY linked to ACORN - electionjournal.org 09/29/2009 The Working Families Party and local Democratic Party Officials are at the center of a massive voter fraud scandal in Troy, NY. According to the Times Union : Dozens of forged and fraudulent absentee ballots from people registered to vote on the Working Families Party line were filed in the Sept. 15 primary elections in Troy. [more...]

Date: 2009-09-29 05:45:28

Government Intervention in Foreclosure

This is Part Four of a series of articles on foreclosures. This article does not constitute legal advice. Foreclosure laws vary from state to state. Homeowners in financial distress should always hire legal counsel. Call your local state bar association for a referral.  Reduced or free legal aid may be available in some states [more...]

Date: 2009-01-07 07:00:13

Full Text: Barack Obama on Economy | Economic Recovery and Reinvestment | January 8, 2009

(Source: Office of the President-Elect) Throughout America’s history, there have been some years that simply rolled into the next without much notice or fanfare.  Then there are the years that come along once in a generation – the kind that mark a clean break from a troubled past, and set a new course for our nation [more...]

Date: 2009-01-08 18:00:11

Obama’s Solution to the Government Engineered Economic Crisis? More Government Interference

FreedomWorks Opposes President–Elect Obama’s Stimulus Plan — Borrowing and spending is not the solution for a problem caused by too much borrowing ... out of the recession is to get private capital back into the market and restore consumer confidence. Borrowing ... of bailouts and have no appetite for taking on two trillion dollars worth of debt in 2009 [more...]

Date: 2009-01-15 01:15:02

The Paradox of Thrift

Has the economy scared you into cutting back on your spending, paying down your credit cards, getting your budget in order? ... couple profiled in the Journal story: Rick and Noreen Capp recently reduced their credit-card debt ... with that? Haven’t consumers been told they need to be more responsible about debt and spending - the lesson [more...]

Date: 2009-01-06 14:12:53

How To Consolidate Your Debt

Amazon.de Widgets Many people are now looking at how to consolidate their debt in an attempt to improve their financial situations. Debt consolidation provides immediate relief to people suffering from debt related stress and anxiety but is only part of the process f dealing with personal debt.Many people are looking at how to consolidate debt in an attempt to improve a poor financial situation, and quite rightly too. [more...]

Date: 2009-09-28 11:04:32

Last night the dollar rally had people predicting a crash today in commodities, stocks and investor sentiment.

I stated that the FED doesn’t want a strong dollar as it hurts the banks they are trying to save. The FED doesn’t care about the economy. The FED Reserve Banks are owned by the banks in each district. They are required to own 3% of assets in Fed stock that receives a 6% dividend. When asset prices drop, the 3% is smaller and keeping asset prices inflated is important to the FED. The saving of the financial system is all that is important to the FED and that requires inflation. [more...]

Date: 2009-09-28 17:36:03

Democrats Indicate A Pulse-- Some Will Not Be Rubber Stamps For Obama When He Leans Too Far Towards Bad Republican Ideas

Obama and Conrad With extreme right wing loons demanding that "their" congressional delegates adopt their own 100% obstruct-obstruct-obstruct posture towards Obama, Limbaugh and other Republican propaganda agents are already claiming the impending Bush-GOP Depression is Obama's fault-- just as they always claimed that FDR caused the Great [more...]

Date: 2009-01-09 15:39:47

Personal Bankruptcy and Tough Decisions

by Grace Holt Deciding to file bankruptcy is not an easy decision for most people. Bankruptcies in Florida are no exception ... decision for many You have been taught to pay what you owe. For many walking away form debt becomes ... . Drowning in debt will never produce productive citizens. There is no law that says you cannot pay [more...]

Date: 2009-01-14 09:21:59

How the credit card industry is set to change

The credit card industry has found itself in the news on a number of occasions over the past year or two for one reason or another, ... that in cases where the borrower falls behind with repayments no debt recovery action will be taken for at least sixty days providing the borrower is working with a debt management advisor in a bid [more...]

Date: 2009-01-15 07:00:33

Two diverging views on the 2009 outlook for PE

It takes two views to make a market, doesn’t it? A buyer and a seller. Black and white. Short and long… ... else to help in economic recovery by providing capital and management expertise to financial services ... can invest in financial services businesses, an industry that hasn’t previously seen a great deal of PE [more...]

Date: 2009-01-14 11:15:46

THE FINTAG NEWSLETTER @ 14 January 2009

FINTAG COMMENT Junk. Interest rates are nearly zero; equities, real estate, ... . So what do you do? Why of course you buy up the stuff that caused the problem in the first place - junk type debt ... of distressed debt funds is being driven by asset allocators who have lost a lot and want to make a quick buck [more...]

Date: 2009-01-14 11:53:57

Rough going ahead

“Over the next 12 months, markets could experience sharp volatility swings ... analysis and see where his take on things can be of benefit to this industry’s bottom line. Information ... be put to good use by truckers large and small to help navigate the tricky economic waters [more...]

Date: 2009-01-14 19:19:52

ENGAGEMENT, TEAMWORK AND INNOVATION: THE 50 BEST EMPLOYERS TO WORK FOR

To save you some searching time, look at number 33. RANK COMPANY LOCATION BUSINESS 1 Protegra Inc ... 6 Solutions 2 GO Inc. Mississauga Video-game distribution 7 DRN Commerce Inc. London, Ont. Debt-recovery ... . Appliance manufacturer 3 Gibraltar Solutions Inc. Mississauga Information technology systems [more...]

Date: 2009-01-14 22:27:24

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