Category: Credit Crisis BailoutsThe analysis published under this category are as follows.
Friday, May 17, 2013
The financial news is getting boring. The Dow goes only one way – up. But gold fell below $1,400 per ounce yesterday.
Rather than trying to figure it out, yesterday evening we drove down to Zombietown. A friend in Washington had promised to introduce us to Neil Barofsky, inspector general of the TARP program.Read full article... Read full article...
Friday, April 12, 2013
In his first TV interview since the company reported record profits, Fannie Mae CEO Tim Mayopoulos told Bloomberg TV's Peter Cook today that U.S. taxpayers could see a net gain from their bailout as the housing market rebounds. Mayopoulos said, "I do think, given the strength of our future profitability, that it is possible that we will be able to pay dividends that would be equal to or greater than the amount of money that we've received from the Treasury Department."Read full article... Read full article...
Thursday, April 04, 2013
Former Treasury Secretary Hank Paulson spoke with Judy Woodruff in an interview airing on Bloomberg Television at 9:30 pm/ET this Friday. Paulson said that he "had to pinch himself" in reaction to the news that Fannie Mae generated record profits last year. "I could hardly believe what I was reading."
Paulson also said that the U.S. needs to slow the growth of entitlement programs and raise more tax revenue by closing loopholes: "We may need more revenues...This should be part of doing something with entitlements, because I think to just keep postponing entitlement reform is a big mistake."Read full article... Read full article...
Saturday, March 02, 2013Mandeep Chadha writes: Cross Border Economic-Political Relations & Risk to International Banks
Global economy is witnessing an integrated banking system is emerging with a small group of large across developed countries' banks the spanning respective national banking markets: As Garrett, Mahadeva and Sviridzenka noted. This raises the issue of the appropriate international level of body to monitor and manage financial stability. Financial stability is currently managed at respective national levels. In particular, the fiscal competence to deal with banking crises is a responsibility of national governments. However, the recent wave of recession starting in the western economy, as travelled and affected the global economy at large. The risk management is required to manage the recession and make the global economy turn back to the growth path.
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Thursday, January 17, 2013
Sasha Cekerevac writes: What does it take to create and sustain long-term gross domestic product (GDP) growth in an economy?
One of the most important factors is a high level of investor confidence.
Investor confidence throughout the economy can help support the formation and expansion of businesses and the development of new technologies and ideas.Read full article... Read full article...
Wednesday, January 09, 2013
AIG Considering Suing Government Over Bankruptcy Saving Bailout / Companies / Credit Crisis Bailouts
David Zeiler writes: Just one month after American International Group Inc. (NYSE: AIG) paid back the last of its huge $182.3 billion U.S. taxpayer-funded rescue, the insurance giant is pondering whether to join a shareholder lawsuit charging the bailout terms were unfair.
Former AIG CEO Maurice Greenberg initially filed the lawsuit in 2011, claiming the 14% interest rate that the government charged, as well as the large size of its stake - 92% - were harmful to AIG shareholders.Read full article... Read full article...
Monday, December 31, 2012
Another Genius Mortgage Idea From Washington That Is Going to Cost You / Politics / Credit Crisis Bailouts
Shah Gilani writes: Now here's another good idea from the geniuses that ruin, I mean run, our country.
The Obamarama administration really wants to help homeowners whose homes aren't worth what they borrowed to buy them. In other words, they are "underwater."
A lot of the loans to homeowners that are underwater are owned outright or, at a minimum, insured (more often both) by Fannie Mae and Freddie Mac, the government-sponsored (which means taxpayer saddled) enterprises that the government had to take over when in 2008 they lost on their trillion-dollar bets that home prices would go up forever. Geniuses!Read full article... Read full article...
Tuesday, December 18, 2012
Basel’s Capital Curse, Beating the Drums of Bank Recapitalization / Interest-Rates / Credit Crisis Bailouts
In the aftermath of the financial crisis, the oracles of money and banking have been beating the drums for “recapitalization” — telling us that, to avoid future crises, banks must be made stronger. To accomplish this, governments across the developed world are compelling banks to raise fresh capital and strengthen their balance sheets. And, if banks can’t raise more capital, they are told to shrink the amount of risk assets (loans) on their books. In any case, we are told that one way or another, banks’ capital-asset ratios must be increased — the higher, the better.Read full article... Read full article...
Wednesday, October 31, 2012
EU Banking Union, European Commission Single Supervisory Mechanism / Politics / Credit Crisis Bailouts
The lack of enthusiasm for the latest effort to centralize all banking and monitory regulation within the European Central Bank suggests that the surreal struggle for continental unanimity still resides in the minds of banksters. Elites still seek to perfect the class distinguish of century old traditions, into a modern version of feudal serfdom. Globalism is the brainchild of the cabal of international banking. As long as a financial monopoly dominates political institutions, the end result will be more consolidation of the rule of the House of Rothschild.Read full article... Read full article...
Monday, October 15, 2012
Economics and the corporate media did exemplary service in promoting 'the Big Lies' of the financialisation crisis, most notably efficient markets theory and the trickle down theory of stuffing the rich with even greater power and wealth in the thought that some of the excess would fall on the path for the little people.
They have tied these old canards so carefully to emotional arguments that even after the crisis and collapse, many people will still respond reflexively to anything that shakes their faith in a failed, fallen system.
Friday, September 21, 2012
On December 8, 2008, the Senate confirmed Neil Barofsky’s nomination as Troubled Asset Relief Program (TARP) watchdog. He assumed the post of SIGTARP (Special Inspector General for TARP).On July 20, 2009, he estimated the $700 billion bailout fund could balloon to $23.7 trillion. Obama administration secrecy conceals what’s essential to reveal. Over $9 trillion is known. Some analysts think true figures may be three times that amount. Only crooked bankers and corrupt bureaucrats know for sure.
In February 2009, Barofsky submitted an initial report to Congress. In the past two months, he said, Washington handed out hundreds of billions of dollars (like confetti) to troubled financial institutions.Read full article... Read full article...
Tuesday, September 18, 2012
Is The Exodus of Wealth From Swiss Banks Accelerating? Massive Flight-of-Capital Acknowledged / Companies / Credit Crisis Bailouts
Financial Privacy Wars
Swiss banks are now expecting withdrawals of hundreds of billions of Swiss francs according to the head of wealth management at UBS, Jürg Zeltner, as a result of steps to stop foreigners using secret accounts to evade taxes. Although a long time coming, this is entirely consistent with the extensive investigations carried out by the ATCA 5000 Research and Analysis Wing (A-RAW) and the mi2g Intelligence Unit (mIU) as well as the Socratic dialogue we have subsequently initiated at the highest level in regard to the flight-of-capital from Switzerland.Read full article... Read full article...
Monday, September 17, 2012
Keith Fitz-Gerald writes: Just five years after they played a primary role in engineering the worst financial crisis since the Great Depression, America's big banks are quietly setting the world up to do it all over again.
Only this go-round the costs will be far higher and the damage much worse. This time the fall could be $2.6 trillion or more.Read full article... Read full article...
Saturday, September 15, 2012
In July of 2011, I was one of the first to bring to your attention to the incredible fact that the US Federal Reserve had secretly given away $16 TRILLION dollars;
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"The first ever GAO (Government Accountability Office) audit of the US Federal Reserve was recently carried out due to the Ron Paul/Alan Grayson Amendment to the Dodd-Frank bill passed in 2010. Jim DeMint, a Republican Senator, and Bernie Sanders, an independent Senator, while leading the charge for an audit in the Senate, watered down the original language of house bill (HR1207) so that a complete audit would not be carried out. Ben Bernanke, Alan Greenspan, and others, opposed the audit.
Monday, September 10, 2012
I guess it is good that the Democratic National Convention is over if for no other reason than Paul Krugman can get some sleep, given his heart was pounding with joy and admiration over the brilliance of the speakers. No doubt, all this fall he will coordinate his columns and blog posts with talking points from the Obama campaign and the DNC, and I am sure that some real howlers are in store for us lucky readers.Read full article... Read full article...