Wall Street Crisis
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 [...]
Beware Clowns Bearing Financial Advice
A friend of mine sent me a link to a YouTube video (after jump) featuring Peter Schiff, president of Euro Pacific Capital, and longtime critic of the debt-fueled U.S. economy. The video is comprised of interviews on financial news channels in 2006 and 2007 – before the subprime meltdown morphed into a full-blown Wall Street [...]
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 [...]
Intravenous Finance
Governments around the globe launched aggressive schemes with speed induced by shear panic over the weekend in order to stop the global financial meltdown. Central banks in Europe and America will now guarantee a veritable stew of rotten bank loans and governments will purchase equity stakes in many of these retched and limping debt-peddling institutions.
The [...]
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 [...]
Bloomberg Wants A Third Term as Mayor of New York
I think Michael Bloomberg really likes his job – or wants to become the Duke of New York. Now, what follows is mere rumor but according to the NY Times and just about every other local paper, Bloomberg is planning to run for a third term as mayor of New York City. It [...]
Credit Markets Still Frigid
I breathed a big sigh of relief this morning as I drank my English
pint-sized iced coffee. Was it that the stock market was rallying
hard to wash away some of yesterday’s bone crushing loses? No.
The reason for my warm and fuzzy feeling was due to the fact
that a check I deposited in my bank account from [...]
Banker Brigade
With legions of bankers armed with deadly debt securities, the U.S. will be able to vanquish all foes.
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