Fed buys $2.5 billion of long-term U.S. government debt at auction
Well between Obama giving the GM CEO the boot and the Federal Reserve having to purchasing more of our debt, the market is down sharply (over 4% at the time of this writing). It is becoming clear that...
View ArticleUnder New FASB Accounting Rule, Toxic Assets May Be Revalued By Banks
Well this is were we have come. Instead of letting the market determine the price of assets on their books, we instead changed the accounting rules so they can set the price for them and then...
View ArticleU.S. bank bailout extended to life insurance companies
The depth of this situation is now coming into focus. What has basically happened, is the life insurance companies who normally are very risk adverse in their investing got caught up in investing in...
View ArticleNobel Laureate Joeseph Stiglitz Says Ties to Wall Street Doom Bank Rescue
He is correct on this point, the bailout has been targeted to Wall Street on the assumption that if we give them good money and purchase their bad assets off their balance-sheet, it will get them to...
View ArticleBank of America Needs to Raise $33.9 Billion in Additional Capital
Well we will see how these “stress test” results look on Thursday. I have heard anywhere from 10 to 16 of the 19 biggest banks we need to raise additional capital to maintain an adequate reserve...
View ArticleFederal Reserve Says Disclosing Emergency Bailout Loans Will Hurt Banks –...
Well here is the first shot back after the New York District judge ruled against the Fed in the FOIA lawsuit brought against them from Bloomberg LP. I am just going to take a little time to address...
View ArticleU.S. bails out credit unions by backing $30 billion in bonds
Even though my core stance is that we should not of bailed out any financial institutions, I am glad to see that we are focusing on local banks and credit unions. They have been hit the hardest...
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