Category: Credit Crisis Bailouts
The analysis published under this category are as follows.
Wednesday, September 24, 2008
Bailout Atrocity- Ron Paul Says "Call Your Congress Member Now!" / Politics / Credit Crisis Bailouts
By: Mike_Shedlock
In a Letter from Ron: Time is running out Ron Paul is urging everyone to "Call Them!".
With a Rasmussen poll finding support for the bailout at an anemic seven percent, some members of Congress are afraid to vote for it. Call them! Let them hear from you! Tell them you will never vote for anyone who supports this atrocity.
Wednesday, September 24, 2008
Bernanke's Confidence Trick Game / Companies / Credit Crisis Bailouts
By: Mike_Shedlock
MSN Money is reporting Buffett takes a stake in Goldman
The world's most famous investor is betting that it's time to buy into one of the battered financials. Berkshire Hathaway's (BRK.A) Oracle of Omaha Warren Buffett said late Tuesday that he is buying a $5 billion interest in Goldman Sachs (GS), one of the two investment banks left standing amid the fallout of the mortgage crisis. Berkshire Hathaway gets a perpetual preferred stock that pays a 10% annual dividend, which takes precedence over other payments to common shareholders in Goldman.
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Wednesday, September 24, 2008
Wall Streets Trillion Dollar Swindle / Politics / Credit Crisis Bailouts
By: Mike_Whitney
On Friday morning, Senator Christopher Dodd, the head of the Senate Banking Committee, was interviewed on ABC's “Good Morning America.” Dodd revealed that just hours earlier at an emergency meeting convened by Secretary of the Treasury Henry Paulson and Federal Reserve chairman Ben Bernanke, lawmakers were told that "We're literally maybe days away from a complete meltdown of our financial system.” Dodd added somberly, that in his three decades of serving in public office, he had "never heard language like this.” Read full article... Read full article...
Wednesday, September 24, 2008
Congress Being Blackmailed into Signing a Blank Check / Politics / Credit Crisis Bailouts
By: John_Browne
Last week, Treasury Secretary Paulson and Fed Chairman Ben Bernanke faced Congressional leaders with a reported forecast that we are “literally days away from a complete meltdown of our financial system.” Apparently, the politicians were stunned into a long silence. Read full article... Read full article...
Wednesday, September 24, 2008
Bernanke and Paulson Hoodwink American Tax Payers Into Buying Crap / Politics / Credit Crisis Bailouts
By: Brady_Willett
The Treasury Secretary Paulson and Fed Chairman Bernanke bailout plan calls for $700 billion in taxpayer funds to be used to purchase assets that will in all likelihood be worth considerably less in the future. As for the contention that the assets to be purchased could be worth more in the future than prices paid today, if there was any validity to this speculation the bailout plan in question would not be required as the assets in question would have already found a buyer. Read full article... Read full article...
Wednesday, September 24, 2008
Bernanke, Paulson and the US Government Following Eggertsson Buy High Policy / Economics / Credit Crisis Bailouts
By: Mick_Phoenix
An Occasional Letter From The Collection Agency - It is time for a short update to the series of artices that started with The Future Actions of The Federal Reserve And US Govt Are Known
Many people have been wondering what the cost of all this intervention may be. I firmly believe that Bernanke, Paulson and the US Government are following the ideas laid out in Eggertsson's work "An interpretation of The Deflation Bias and Committing to Being Irresponsible".
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Tuesday, September 23, 2008
US Treasury Bailout Auction Scam and How To Stop It / Politics / Credit Crisis Bailouts
By: Mike_Shedlock
As more and more details of the Paulson proposal become clear, the smellier the package is.
Today Bernanke admitted the Treasury has no intention of conducting a true reverse auction. Inquiring minds are considering Fed Chairman Bernanke Clarifies Government's $700 Billion Proposal .
"I believe that under the Treasury program, auctions and other mechanisms could be designed that will give the market good information on what the hold-to-maturity price is for a large class of mortgage-related assets. If the Treasury bids for and then buys assets at a price close to the hold to maturity price, there will be substantial benefits," said Bernanke.
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Tuesday, September 23, 2008
The Paulson Bail-Out Plan is Mortgage Fraud on Historic Scale? / Politics / Credit Crisis Bailouts
By: Richard_C_Cook
The $750 billion banking system bailout proposed by Secretary of the Treasury Henry M. Paulson met with a cool reception on Capitol Hill this morning at a hearing of the Senate Banking Committee. Nevertheless, a bill is likely to pass both houses of Congress within the next couple of weeks. As Senator Tim Johnson (D-SD) said, it's “a necessary evil.” But is it also an example of “mortgage fraud” on a historic scale? Read full article... Read full article...
Tuesday, September 23, 2008
No Blank Check for Wall Street Says Senate Majority Leader Reid / Politics / Credit Crisis Bailouts
By: Mike_Shedlock
The ReviewJournal is reporting Reid says "no blank check" for Wall Street bailout .Senate Majority Leader Harry Reid said today that Democrats in Congress will not grant President Bush "a blank check" $700 billion financial bailout bill without debate over amendments to "protect taxpayers."
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Tuesday, September 23, 2008
US Treasury Relents on Bailout Key Points, Shelby Reiterates Opposition / Politics / Credit Crisis Bailouts
By: Mike_Shedlock
The Wall Street Journal is reporting Treasury Relents on Key Points . The Bush administration and the Democratic Congress inched closer to agreement on a $700 billion plan to rescue troubled financial firms, with the Treasury making most of the concessions amid an increasing backlash from a range of economists and lawmakers.
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Tuesday, September 23, 2008
Credit Crisis Breeding Fascism for the "Public Good" / Politics / Credit Crisis Bailouts
By: Darryl_R_Schoon
THE KILLERS ARE WITH THE PATIENT - There is nothing more dangerous than when those responsible for a nation's troubles are believed to be its sa vio r.
The Wall Street Journal had one fact correct regarding Wall Street's accelerating collapse when on September 20th they wrote: When government officials surveyed the failing American financial system this week, they didn't see only a collapsed investment bank or the surrender of a giant insurance firm. They saw the circulatory system of the U.S. economy—credit markets—starting to fail .
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Tuesday, September 23, 2008
$700 Billion Banking System Bailout Profit Bonanza? / Companies / Credit Crisis Bailouts
By: Money_Morning
Martin Hutchinson wites: With the exception of a few curmudgeonly old Republicans, there has been general rejoicing at U.S. Treasury Secretary Henry M. Paulson's $700 billion banking system bailout. Indeed, to hear some commentators you would think it was cost free - they explain joyfully that assets will only be acquired at a discount, so of course there is a good chance the taxpayer will not be out of pocket on the deal. Read full article... Read full article...
Tuesday, September 23, 2008
Bank of America Says "Paulson Bailout Plan Benefits Mostly Goldman, Morgan" / Companies / Credit Crisis Bailouts
By: Mike_Shedlock
Surprise, surprise, surprise. Guess who the Paulson plan benefits?Bank of America's top credit strategy analyst says Paulson Debt Plan May Benefit Mostly Goldman, Morgan .
Goldman Sachs Group Inc. and Morgan Stanley may be among the biggest beneficiaries of the $700 billion U.S. plan to buy assets from financial companies while many banks see limited aid, according to Bank of America Corp.
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Monday, September 22, 2008
Dead Zombie Banks Rise From Their Financial Graves / Stock-Markets / Credit Crisis Bailouts
By: V_Clark
The Return of the Mutant Flying Pigs -
Things are getting curiouser and curiouser. This Friday, in a new financial landscape dreamed up by Salvador Dali in collaboration with Troma films, the banking dead were rising from their graves and financial stock zombies were seen stumbling through the trading day with the disjointed, uncertain gait of trauma victims being forced to take a long march when they would rather take a nice ride on a gurney.Read full article... Read full article...
Monday, September 22, 2008
Paulson's Bold Bailout Plan Supportive of a Stock Market Bottom / Stock-Markets / Credit Crisis Bailouts
By: Paul_J_Nolte
Trust me, I'm from the government and I'm here to help. In essence, those words are exactly what Treasury Secretary Paulson is saying in laying out the bailout of the banking system. He would have rein over hiring of managers to purchase the debt and be able to do so as needed without oversight from any other part of government. While desperate times require desperate measures, this might be a bit too desperate. The limit on national debt will be raised by nearly $1 trillion and gives the Treasury the authority to buy up to $700 billion in mortgage related assets. While there are few worries if the plan works, the proposal severely hamstrings the government to act on any other issue that may come up and is likely to increase government borrowing over the coming two years from sources that are already up to their eyeballs in our paper.Read full article... Read full article...
Monday, September 22, 2008
Recommendation to Congress Not to Spread Financial Panic / Interest-Rates / Credit Crisis Bailouts
By: Money_and_Markets
Martin D. Weiss writes: The proposal before Congress for a $700 billion mega-bailout is far too little to repair the damaged debt and derivatives markets ... and, at the same time, far too much for investors and taxpayers who must put up the money.
How big is the problem, really?
In the past, Congress has repeatedly asked us for data and analysis on these issues, and we have provided it in Congressional testimony and white papers. In that same tradition, below is a partial first draft of a white paper we will be submitting on this matter:
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Monday, September 22, 2008
How US Congress Intends To Waste $1.8 Trillion / Politics / Credit Crisis Bailouts
By: Mike_Shedlock
The size of the bailout is growing by leaps and bounds. Inquiring minds are asking A $1.8 Trillion Bailout: Where the Money's Going?
—Up to $700 billion to buy assets from struggling institutions. The plan is aimed at sopping up residential and commercial mortgages from financial institutions but gives Treasury broad latitude.
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Monday, September 22, 2008
Mushroom Cloud over Wall Street as US Constitution Burns / Politics / Credit Crisis Bailouts
By: Mike_Whitney
These are dark times. While you were sleeping the cockroaches were busy about their work, rummaging through the US Constitution, and putting the finishing touches on a scheme to assert absolute power over the nation's financial markets and the country's economic future. Industry representative Henry Paulson has submitted legislation to congress that will finally end the pretense that Bush controls anything more than reading the lines from a 4' by 6' teleprompter situated just inches from his lifeless pupils. Paulson is in charge now, and the coronation is set for sometime early next week. He rose to power in a stealthily-executed Bankster's Coup in which he, and his coterie of dodgy friends, declared martial law on the US economy while elevating himself to supreme leader. Read full article... Read full article...
Monday, September 22, 2008
Paulson Will Morph Toxic Banks into Toxic US Dollars / Stock-Markets / Credit Crisis Bailouts
By: Michael_Swanson
This Doesn't Have to Happen - On Thursday right before CNBC reported on rumors of the bank bailout plan, Ben Bernanke was meeting with lawmakers and selling the plan to them. Inside a conference room that is part of Speaker of the House Nancy Pelosi's office he was meeting with the Congressional leadership. According to the Washington Post he told them that if they don't pass the plan "it will be nothing short of disaster for our markets." He claimed that stock market would crash and money market funds would get wiped out.
In a conference call with Republicans on Friday Bernanke said, "many of your constituents hold money in money markets — those funds are losing money" and now the "critical issue is what do we do about these bad assets clogging up our credit system.”
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Monday, September 22, 2008
Paulson's Lies Keep Escalating: What YOU Can Do About It / Stock-Markets / Credit Crisis Bailouts
By: Mike_Shedlock
Somehow Paulson has gone from "Our banking system is a safe and a sound one" (See You Know The Banking System Is Unsound When.... ) to Paulson telling Congress “That we're literally maybe days away from a complete meltdown of our financial system, with all the implications here at home and globally.” Inquiring minds may wish to consider a recap of things that have happened since Paulson made his "Our banking system is a safe and a sound one" speech.
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