fed bailout: Is a bailout Anti-American - 12/24/08 01:37 AM
Think about it like this.
If you could go to Las Vegas, wager and win keep you profits would you? If you do not win, the house would come and give your money back in the form of a low interest loan and say ‘try again'. Now, with this new found money, you have a second chance. If this second change is successful you keep all the profits above and beyond these low interest loans. If this second change does not prove successful, you don't have to pay the money back.
This bailout of those who are not rewarded for taking … (0 comments)

fed bailout: more foreclosure help on the way from Unlce Sam - 10/23/08 03:48 AM
Federal regulators told Congress they were making steady headway in confronting the worst financial crisis since the 1930s as committees in both the House and the Senate held hearings on a contagious financial collapse that has infected global markets.
The federal government is working on a loan-guarantee plan that could help many homeowners escape foreclosure, a banking regulator told Congress Thursday. At the same time former Federal Reserve Chairman Alan Greenspan said the financial crisis will get worse before it gets better.
"Loan guarantees could be used as an incentive for servicers to modify loans," Bair said. "By doing so, unaffordable … (0 comments)

fed bailout: The real victim - Holiday Parties - 09/30/08 06:38 AM
As the profit party ends on Wall Street, the American impulse to celebrate could lose its fizzle like day-old champagne.
Company parties will still go on this holiday season, say caterers, event planners and others, but many businesses are caught between the need to scale back costs and a desire to reward employees who have been on a rough ride recently.
"Parties need to reflect the mood of the times. It's not going to be a time for big to-dos," said John Challenger, CEO of employment consultancy Challenger, Gray & Christmas, which will release a survey on the extent of this … (0 comments)

fed bailout: Lawmakers will get FED bailout passes - 09/30/08 06:22 AM
Congressional leaders, with advice from their parties' presidential nominees, scrambled Tuesday to find out what changes are needed to sell the failed $700 billion financial system bailout to rank-and-file members.
John McCain and Barack Obama offered long-distance help from the campaign trail. They announced separately that they support a plan that some House Republicans had pushed earlier: raising the federal deposit insurance limit from $100,000 to $250,000.
The aim of this change would be to reassure nervous Americans - and hence their elected representatives at the Capitol - that the legislation would shore up the faltering economy.
For his part, President … (0 comments)

fed bailout: House to try again on Thursday - 09/29/08 09:00 AM
After , a  stunning vote that shocked the capital and worldwide markets,
the house will try again on Thursday
the House on Monday defeated a $700 billion emergency rescue for the nation's financial system, ignoring urgent warnings from President Bush and congressional leaders of both parties that the economy could nosedive without it.
The Dow Jones industrials plunged nearly 800 points, the most ever for a single day.
Democratic and Republican leaders alike pledged to try again, though the Democrats said GOP lawmakers needed to provide more votes.
 Bush huddled with his economic advisers about a next step.
The House was … (0 comments)

fed bailout: Market Plunges 700 points on No Vote - 09/29/08 06:49 AM
As the floor of Congress was shown on National television and the vote for or against the $700 billiion rescue packages was read,
Fear swept across the financial markets Monday, sending the Dow Jones industrials down as much as 705 points, after the government's financial bailout package failed the House.
As the vote was shown on TV, stocks plunged and investors fled to the safety of the credit markets, worrying that the financial system would keep sinking under the weight of failed mortgage debt.
"Clearly something needs to be done, and the market dropping 400 points in 10 minutes is telling … (0 comments)

fed bailout: government should take an equity stake in the surviving institutions - 09/24/08 08:00 AM
There's good reason for the outrage among both ordinary citizens and elected officials, says Lawrence White, economics professor at NYU's Stern School.
First, the original proposal giving the Treasury Secretary total power and no oversight over the bailout "has to have been a political mistake,"
White says. "It didn't win them any friends [and] couldn't have been a wise thing." Second, and more important, the proposal for the government to buy and hold (to maturity) bad bank assets is flawed, White says, as detailed here.
A better option would be the "Swedish model" of forcing write-downs, he says, and then reliquefying … (0 comments)

fed bailout: Main Street and Wall Street are concerned - 09/24/08 07:57 AM
Fifty-five percent of Americans say no taxpayer money should be used to bail out private companies, even if their collapse would damage the economy, according to the latest Bloomberg/Los Angeles Times poll.
the level of outrage and opposition to the bailout plan is even higher among Tech Ticker viewers.
"This is a joke. I was a responsible citizen that suffered in a broken-down apartment because I knew I could not afford a house," writes david_schndr in a representative post. "And if [the bailout] goes through, the housing prices will once again be artificially propped up and too expensive for me. With … (0 comments)

fed bailout: President Bush may address the country on primetime about Bailout - 09/24/08 03:25 AM
The administration also wants to see whether the markets are stable Wednesday, with the official noting that anything the White House says on the crisis "can truly impact the markets" for better or worse - so the White House wants to be careful in deciding whether the president should deliver such a high-profile speech
President Bush may make a prime-time speech regarding the $700 billion plan to bail out Wall Street, a senior administration official told CNN.
His top economic advisors, Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke, faced deeply skeptical senators on Tuesday, including members of Bush's Republican Party. … (0 comments)

fed bailout: $180 Billion loan to money markets - 09/18/08 07:58 AM
Wall Street's biggest crisis since the Great Depression forced the Federal Reserve and central banks in other countries to pump billions of dollars into the world's banking system in an urgent bid to stop further damage.
The Fed plowed as much as $180 billion into money markets overseas. At home, the New York Federal Reserve acted to ease a spike in overnight lending rates by injecting $55 billion into the banking system.
Wall Street initially rallied, but it shed the gains and traded mostly lower by midday. Treasury securities and gold soared as investors fled to their relative safety.
Worries about … (0 comments)

 

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