Category: Credit Crisis Bailouts
The analysis published under this category are as follows.
Saturday, April 04, 2009
How Wall Street Robs the Banks that it Owns / Politics / Credit Crisis Bailouts
By: Submissions
Bill Moyers writes:
The financial industry brought the economy to its knees, but how did they get away with it? With the nation wondering how to hold the bankers accountable, Bill Moyers sits down with William K. Black, the former senior regulator who cracked down on banks during the savings and loan crisis of the 1980s. Black offers his analysis of what went wrong and his critique of the bailoutRead full article... Read full article...
Friday, April 03, 2009
Let's Play Pretend at Toxic Asset Valuations / Politics / Credit Crisis Bailouts
By: Peter_Schiff
When elementary school kids want to escape the confines of their circumstances they pretend to be pirates, princesses, and Jedi knights. Now, with the relaxation of "mark to market" valuation rules announced yesterday by the accounting trade's self-regulatory body, our bankrupt financial institutions can escape their own reality by pretending to be solvent. The unraveling of our fairytale economy over the last few months has not yet convinced us that the time has come to put away childish things. The applause that greeted the news yesterday on Wall Street is a clear sign that we still have some growing up to do.Read full article... Read full article...
Friday, April 03, 2009
U.S. Treasury Bad Asset Programs May be a Stable Foundation for Economic Recovery / Politics / Credit Crisis Bailouts
By: Money_Morning
Shah Gilani writes: The U.S. Treasury's much-maligned Term Asset-Backed Securities Loan Facility (TALF) and its new “prequel,” the Public-Private Investment Program (PPIP) have been viewed by the markets and skeptical prospective participants as merely a price discovery mechanism which, with a lot of luck, might create a floor under toxic security prices. Read full article... Read full article...
Friday, April 03, 2009
G20 Outcome - An Unmitigated Disaster for Humanity / Politics / Credit Crisis Bailouts
By: Brian_Bloom
Attached is a video of Gordon Brown making his summary wind-up speech.http://www.breitbart.tv/?p=311333
This speech contains everything I had feared would be the outcome, because:
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Friday, April 03, 2009
Mark to Market Madness … Geithner Plan Shenanigans … Economy in Crisis / Politics / Credit Crisis Bailouts
By: Money_and_Markets
Mike Larson writes: I've had a lot on my mind this week, and so has the market. Mark to market accounting … the Geithner plan … and the latest economic data have all been capturing the attention of investors. So I want to share my latest thoughts on all of these market drivers, and explain where we're likely headed next … Read full article... Read full article...
Thursday, April 02, 2009
Obama's Latest No Banker Left Behind Scheme / Politics / Credit Crisis Bailouts
By: Stephen_Lendman
On Wall Street, that is. So hyped by advance fanfare, Timothy Geithner unveiled his Public-Private Investment Program (PPIP) on March 23, the latest in a growing alphabet soup of handouts topping $12.5 trillion and counting - so much in so many forms, in "gov-speak" language, with so many changing and moving parts, it's hard for experts to keep up let alone the public, except to sense something is very wrong. They're being fleeced by a finance Ponzi scheme, sheer flimflam, and here's how from what we know: Read full article... Read full article...
Thursday, April 02, 2009
Defrauding the American Tax Payer, Geithner's $500 Billion Gift To Pimco / Politics / Credit Crisis Bailouts
By: Mike_Shedlock
Geithner's Heist America Plan is receiving words of self-serving praise from Pimco's Bill Gross. Indeed, Geithner's Non-Recourse Gift Keeps on Giving to Bill Gross .
Treasury Secretary Timothy Geithner's plan to rid banks and markets of devalued assets may be a boon for Pacific Investment Management Co.'s Bill Gross. Read full article... Read full article...
Wednesday, April 01, 2009
GHAP- Geithner's Heist America Plan / Politics / Credit Crisis Bailouts
By: Mike_Shedlock
The Wall Street Journal has more details on Geithner's Heist America Plan (GHAP). Please consider Treasury's Very Private Asset Fund . The Obama Administration insists it wants to "partner" with private investors for its new toxic-asset purchase plan. But the more details that emerge, the more it seems Treasury wants to work with only a select few companies. This is no way to conduct a bank clean-up.
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Wednesday, April 01, 2009
Bank Bailouts Financial Terrorism and You / Politics / Credit Crisis Bailouts
By: Money_and_Markets
Sean Brodrick writes: Can we just drop the pretense and start calling the bank bailout what it is: Financial terrorism. Terrorism can be defined as achieving one's aims through fear. And it sure seems to me that bankers and their friends in government are extorting money from the taxpayers (you and me) with a threatening “or else” that goes something like this: “Give us the money or the entire financial system will implode.” Read full article... Read full article...
Tuesday, March 31, 2009
New Credit Card Rules; FDIC Borrowing Limit Upped / Politics / Credit Crisis Bailouts
By: Mike_Shedlock
With stiff objections coming from Republicans, a Senate Panel Approves Bill Limiting Credit-Card Rates . A Senate panel approved new restrictions on credit-card interest rates that are broader than those adopted by the Federal Reserve in December, brushing aside objections from Republicans and the banking industry.
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Tuesday, March 31, 2009
Liquid Toxic Assets as Government Finances and Guarantees Purchasers / Politics / Credit Crisis Bailouts
By: Paul_L_Kasriel
Does Kramer Finally Get to Be a Banker and Does There Have to Be Skin in the Game for CDS? - Cosmo Kramer of Seinfeld fame always wanted to be a banker. Will Treasury Secretary Geithner's Public-Private Investment Program (PPIP) finally allow him to fulfill his dream? PPIP should have no shortage of private investors signing up to buy financial institutions' toxic assets - sorry, "legacy" assets. After all, the purchasers will obtain government-guaranteed financing, government-guaranteed default-risk protection and plenty of leverage to boost returns. The question is how eager will financial institutions be to sell their legacy assets. Read full article... Read full article...
Tuesday, March 31, 2009
When Will the FBI Open an Investigation into Geithner's Racketeering Plan? / Politics / Credit Crisis Bailouts
By: Andrew_Butter
The best thing about the Geithner Plan is it probably won't happen. Yes all the talk will buy time and allow a period of "forebearance", which is what saved the banks (that were left standing) in the Great Depression, and the financial system after the South American fiasco the S&L and the Asian Crisis. Read full article... Read full article...
Tuesday, March 31, 2009
Bailout Economics: The Politics of Self Destruction / Politics / Credit Crisis Bailouts
By: Axel_Merk
The patchwork of attempts to prop up the financial system has taken on a life of its own – we call it bailout economics. At every step, Adam Smith's “invisible hand” to guide the economy has become less evident. Back in the 18th century, the economist coined the term as a metaphor for the self-regulating nature of free markets. Economic booms and busts are as old as mankind, but each time a crisis occurs, policy makers want to ensure that the same disaster will never happen again. Read full article... Read full article...
Monday, March 30, 2009
Geithner's ‘Dirty Little Secret' Transfer Trillions to Bankrupt Mega Banks / Politics / Credit Crisis Bailouts
By: F_William_Engdahl
US Treasury Secretary Tim Geithner has unveiled his long-awaited plan to put the US banking system back in order. In doing so, he has refused to tell the ‘dirty little secret' of the present financial crisis. By refusing to do so, he is trying to save de facto bankrupt US banks that threaten to bring the entire global system down in a new more devastating phase of wealth destruction. Read full article... Read full article...
Saturday, March 28, 2009
How the Free Market Mortgage Bond Scam Works / Interest-Rates / Credit Crisis Bailouts
By: Submissions
Michael Hudson writes: Newspaper reports seem surprised at how high banks are bidding for the junk mortgages that Treasury Secretary Geithner is now bidding for, having mobilized the FDIC and Fed to transfer yet more public funds to the banks. Bank stocks are soaring – thereby bidding up the Dow Jones Industrial Average, as if the “financial industry” really were part of the industrial economy. Read full article... Read full article...
Thursday, March 26, 2009
Taxing Bank Bonuses is Petty Fascism / Politics / Credit Crisis Bailouts
By: Andrew_Butter
The recent idea to put a punitive tax on bank workers is a modern equivalent of yellow badges.
But maybe I'm biased ..."some of my best friends are bankers".
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Wednesday, March 25, 2009
Save the Big Banks, Trash the U.S. Dollar / Economics / Credit Crisis Bailouts
By: LewRockwell
Gary North writes: Timothy Geithner's plan to save the big banks will be a success. This success will come at a cost. The plan will hurt taxpayers, and it will lead to severe price inflation. It will not revive the faltering economy in 2009. It will not restore the housing market. Family wealth will continue to decline. Read full article... Read full article...
Wednesday, March 25, 2009
Geithner Asks Americans to Bend Over to Uncle Sam / Politics / Credit Crisis Bailouts
By: Mike_Whitney
Timothy Geithner refuses to take underwater banks into receivership and resolve them, but has no problem transforming the FDIC into a hedge fund. Go figure? Here's what everyone needs to know: The US government (you) will provide up to 94 percent of the financing (low interest, of course) for dodgy mortgage-backed assets that no one in their right mind would ever buy so that wealthy and politically-connected banksters can scrub up to $1 trillion of red ink from their balance sheets. Ugh! Read full article... Read full article...
Wednesday, March 25, 2009
Geithner's Arrogance Knows No Bounds, The Most Dangerous Man in America / Politics / Credit Crisis Bailouts
By: Mike_Shedlock
Inquiring minds are listening to Geithner explain to Congress how his plan works. Here is a transcript of a conversation between Rep Gresham Barrett and Treasury Secretary Geithner. Rep Gresham Barrett : "The last question I have guys, which is the $64 million question or I guess I should say $64 trillion question is: What's the backup plan? If everything fails what do we do? Where do we go from here?"
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Tuesday, March 24, 2009
Can the Banks Toxic Asset Problem be Fixed So Easily? / Stock-Markets / Credit Crisis Bailouts
By: Marty_Chenard
Geithner and the Banks - What is one of the major purposes for removing the toxic assets from the banking system? To get banks to start lending , so companies can borrow to keep their operations going, for consumers to start borrowing so they can spend, for mortgage rates to drop so housing sales can start up again ... Everything needed for the economy to start a turn around so that the stock market can get out of this Bear market. Read full article... Read full article...