finance
Citigroup is back from the Dead - for now
It was another Sunday night rescue for the folks at the U.S. Treasury, the Federal Reserve and the newest addition to the cast of the Wall Street crisis and financial bailout drama, the Federal Deposit Insurance Corp. (FDIC). This time the dynamic trio swooped in to arrange a bailout of Citigroup, the struggling U.S. banking [...]
Drama Highlights Auto Execs Testimony
It was the House version of “Car Talk” yesterday, according to the Washington Post, as members, both Republican and Democrat, swapped stories about their GM and Ford vehicles. This was disclosed in a article entitled “Auto Execs Fly Corporate Jets to D.C., Tin Cups in Hand.” The camera-loving representatives also had a field day with [...]
The NY Times Stinks at News Analysis
Should General Motors file receive a financial bailout from the U.S. government, or should it be left to deteriorating market conditions that will lead to a bankruptcy filing? This is the question put forth by a NY Times “News Analysis” piece entitled “G.M.’s Troubles Stir Question of Bankruptcy vs. a Bailout .” Unfortunately, this article [...]
Treasury Department Needs P.R. Help Now!
The U.S. Treasury should hire a competent public relations firm and send Neel Kashkari, the department’s rude, abrasive Bailout Czar to charm school. According to the NY Post, America’s newest czar gave a Putin-like performance during a brief question and answer session after he delivered the keynote speech at a Midtown Manhattan conference packed with [...]
AIG Gets More of Your Money
What the hell is going on with American International Group(AIG)? First the U.S. government tossed the embattled insurance giant an $85 billion credit line in September – when it decided to let Lehman Brothers file for bankruptcy – and that was increased by $38 billion last month. The spiraling cost of the AIG bailout seems [...]
Spike in Unemployment
11.07.08- From the NY Times: “The unemployment rate spiked to 6.5 percent from 6.1 percent, the highest level since 1994. Many analysts now expect unemployment will reach 8 percent by the middle of next year.” Looks like the frantic action of crusty central bankers and panic-stricken politicians isn’t doing anything too stop the economy from [...]
Panic is the New Black
It’s time to panic again. The first headline I saw this morning screamed “Bloody Friday,” it was in giant, bold blue letters on Marketwatch’s home page. The NY Times ran “Global Shares Plummet on Gloomy Data.” Blood and gloom? That’s no way to start a Friday. I thought those depressing headlines were meant for [...]
Former Lehman CEO Punched in the Face
Does a bloated, arrogant CEO of a failed investment bank deserve a punch in the nose? Apparently a growing number of people fed up with the Wall Street crisis think the answer to this question is YES!
I came across a story this morning in Alaska Pride (Hawaiian Honor’s sever was down) about former Lehman Brother [...]
Financial Turmoil Spawns Zombie Politicians
I woke up this morning, checked the headlines on Marketwatch, and aside from finding out that Asian and European stock markets were falling off another cliff, I stumbled upon a disturbing little article entitled “Lack of EU cooperation worsens turmoil”. It appears that our financial crisis has spread across the Atlantic. And more disturbingly, America’s [...]
Markets Dive After Feds Shun Lehman
The Feds apparently drew the line this weekend regarding financial bailouts for dysfunctional investment banks, shunning Lehman Brothers despite its desperate pleas for help. Sleep deprived officials from the Federal Reserve and the US Treasury, along with beleaguered financial industry chieftains, were huddled in the NY Fed’s fortress-like headquarters in lower Manhattan, trying to avoid [...]
