Category: Credit Crisis Bailouts
The analysis published under this category are as follows.
Wednesday, January 27, 2010
Geithner Cry's Crocodile Tears at Hearing on AIG Bailout / Politics / Credit Crisis Bailouts
By: Submissions
Treasury Secretary Timothy Geithner's opening statement at the House Committee on Oversight and Government Reform's hearing to examine the collapse and federal rescue of American International Group. He basically covers his back from hiding the truth whilst acting as President of the New York Fed.
Friday, January 15, 2010
Fannie and Freddie, Another American Taxpayer Nightmare / Politics / Credit Crisis Bailouts
By: Michael_Pollaro
It’s official.
Fannie and Freddie are now full wards of the state, departments of the U.S. government. And their obligations are now the obligations of the American taxpayer.
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Tuesday, January 12, 2010
Bank Shareholders Should Reject Bankster Bonuses / Politics / Credit Crisis Bailouts
By: Janet_Tavakoli
In July 2009, New York Attorney General Andrew Cuomo's report found that, among other things, the compensation structures at most banks were "a major impetus for the subprime fiasco."*
Thursday, January 07, 2010
The Biggest Financial Deception and Scam of the Decade / Companies / Credit Crisis Bailouts
By: Jeff_Clark
Enron? Bear Stearns? Bernie Madoff? They're all big stories about big losses and have hurt a lot of employees and investors. But none come close to getting my vote for the decade's most dastardly deception...
First came Enron, with $65.5 billion in assets, going belly-up and becoming the largest bankruptcy in U.S. history at that time. Chairman Kenneth Lay said that Enron's decision to file bankruptcy would "stabilize the company," but over the next five years the company was completely liquidated. The stock went from a high of $84.63 in December 2000 to a whopping 26¢ one year later.
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Monday, January 04, 2010
Financial Reforms Are Being Watered Down As Bank Bailouts Are Up / Politics / Credit Crisis Bailouts
By: Danny_Schechter
New York, January 4th: It’s a new week, a new year, and some, erroneously believe a new decade. What’s not new is the stranglehold the banks have on our economy quietly stashing more billions for more bonuses while still restricting the flow of credit. Bad loans have been supplanted by no loans.
Saturday, January 02, 2010
How to Protest Against the Big Bailed Out Bankster Run Banks / Politics / Credit Crisis Bailouts
By: Gary_North
The Huffington Post has come up with a nice little protest movement. Let's pull our money out of the bailed-out banks and put it in local banks that lend to locals. Who are the locals? People just like us.
This makes sense economically. If you ever want a loan, get it from your own banker. If it's a local bank, you will be treated well.
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Monday, December 14, 2009
Citigroup Selling Assets to Repay TARP / Companies / Credit Crisis Bailouts
By: Mike_Shedlock
Citigroup, the last of the major banks still stuck in TARP is looking is looking for an exit strategy. Supposedly a deal is near. Bloomberg is reporting Citigroup Said to Near Agreement on TARP Repayment.
Saturday, December 12, 2009
Janet Tavakoli Comments on Goldman Sachs Fueled AIG Gambles / Politics / Credit Crisis Bailouts
By: Janet_Tavakoli
Goldman Fueled AIG Gambles - Wall Street Journal – December 12, 2009 - By Serena Ng and Carrick Mollenkamp (contribution from Amir Efrati)
Goldman Sachs Group Inc. played a bigger role than has been publicly disclosed in fueling the mortgage bets that nearly felled American Insurance Group Inc.
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Thursday, December 10, 2009
U.S. Taxpayers On The Hook For Ginnie Mae's Rampant Growth / Politics / Credit Crisis Bailouts
By: Mike_Shedlock
The Center for Public Integrity and The Washington Post collaborated nicely on a report detailing problems at Ginnie Mae.
Wednesday, December 02, 2009
RBS Bankster's Holding Labour Government to Ransom for £1.5 Billion / Companies / Credit Crisis Bailouts
By: Nadeem_Walayat
The Board of Directors of RBS Bank, which is 71% UK tax payer owned is using tax payer funds to pay for legal advice to ensure fellow bankster's receive a bonus this year amounting to at least £1.5 billion of tax payer monies as a further reward for failure.
Monday, November 30, 2009
At Financial Markets and Economic Crossroads / Stock-Markets / Credit Crisis Bailouts
By: John_Mauldin
Long time Outside of the Box readers are familiar with John Hussman of the eponymous Hussman Funds. And once again he is my selection for this week's OTB.
This week he touches on several topics, all of which I find interesting. As he notes: "We face two possible states of the world. One is a world in which our economic problems are largely solved, profits are on the mend, and things will soon be back to normal, except for a lot of unemployed people whose fate is, let's face it, of no concern to Wall Street. The other is a world that has enjoyed a brief intermission prior to a terrific second act in which an even larger share of credit losses will be taken, and in which the range of policy choices will be more restricted because we've already issued more government liabilities than a banana republic, and will steeply debase our currency if we do it again. It is not at all clear that the recent data have removed any uncertainty as to which world we are in."
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Wednesday, November 25, 2009
Britains Bankrupt Banks Top Secret HBOS and RBS Loans Truth Revealed / Companies / Credit Crisis Bailouts
By: Nadeem_Walayat
The Bank of England let slip some truth after a year of basically keeping silent on the extent of the behind the scenes actions to prevent the bankruptcy of HBOS and RBS as evidenced by the Top Secret £61.6 billion loans made during October last year.
Tuesday, November 24, 2009
Banking Sector Bailouts the Biggest Tax Payer Rip-off of All Time / Politics / Credit Crisis Bailouts
By: Martin_D_Weiss
In the scenario I’m about to paint for you, the dialog is fictional, but all the facts and figures are real.
The time: 1 AM, November 23, 2011, exactly two years from now.
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Sunday, November 08, 2009
Goldman Sachs' and Warren Buffett's BRK Attempt Fannie Mae Tax Scam / Stock-Markets / Credit Crisis Bailouts
By: Trader_Mark
Some great posts this weekend over at "The Big Picture" by Barry Ritholtz; Barry is essentially the "trailblazer" of financial blogging and many a blogger has followed in his footsteps. In my piece this past week on the Berkshire Hathaway (BRK.a) Burlington Northern (BNI) buyout I didn't have time to get into it but detail oriented readers might of noticed this seemingly throwaway line I tossed in:
Wednesday, November 04, 2009
Fed Preventing Financial Institutions From Deleveraging by Propping Up Asset Prices / Stock-Markets / Credit Crisis Bailouts
By: Mike_Whitney
Size matters. And it particularly matters when the size of the financial system grossly exceeds the productive capacity of the underlying economy. Then problems arise. Surplus capital flows into paper assets triggering a boom. Then speculators pile in driving asset prices higher. Margins grow, debts balloon, and bubbles emerge. The frenzy finally ends when the debts can no longer be serviced and the bubble begins to unwind, sometimes violently. As gas escapes; credit tightens, businesses are forced to cut back, asset prices plunge and unemployment soars. Deflation spreads to every sector. Eventually, the government steps in to rescue the financial system while the broader economy slumps into a coma.
Monday, November 02, 2009
Representative Issa's Letter to William Dudley Requesting AIG Bailout Disclosure / Politics / Credit Crisis Bailouts
By: Janet_Tavakoli
Mr. William C. DudleyPresident
Federal Reserve Bank of New York
33 Liberty Street
New York, NY 10045
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Wednesday, October 28, 2009
US Ponzi Scheme Economy Continues with a New Bailout of GMAC / Companies / Credit Crisis Bailouts
By: Trader_Mark
The Wall Street Journal reports of a new round of bailouts for GMAC. If you are not familiar on how the full Ponzi scheme economy is working, I touched on this in a June piece (this was well before Cash for Clunkers) - let's review.
Tuesday, October 27, 2009
U.S. Government Squandered Billions in the AIG Deal / Politics / Credit Crisis Bailouts
By: Janet_Tavakoli
Janet Tavakoli, founder of Chicago-based Tavakoli Structured Finance Inc., a financial consulting firm, says the government squandered billions in the AIG deal.
“There’s no way they should have paid at par,” she says. “AIG was basically bankrupt.”
Friday, October 23, 2009
Bailout Economic Madness as Congress Seeks to Bailout Pork Belly Farmers / Politics / Credit Crisis Bailouts
By: Mike_Shedlock
24 Senators and 63 House Representatives have completely lost their minds over pork bellies. Apparently the free market does not work, hog farmers are not making enough money, and the government owes farmers a profit no matter how much stuff they grow or raise.
Thursday, October 22, 2009
Downsizing, Government Officials and Media Turning Against the Banks / Politics / Credit Crisis Bailouts
By: Danny_Schechter
Even as calls for an UPRISING against the practices of the big banks are being made, something else has begun to happen: a DOWNRISING has begun with members of the industry, prominent financial media outlets, and government officials beginning to turn against the banks they have been supporting.
Call it an EVOLUTION from above as opposed to an uprising or activism from below.
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