Sign in
Sign in
Recover your password.
A password will be e-mailed to you.
Browsing Category
Economy
On releasing Citi from TARP and banking by accounting subterfuge
Credit Writedowns has made it clear how little will there is in Washington for substantive reform in financial services. But, let’s be more explicit in this post about what policy makers are doing. I will use the recent…
Jobless claims rise 7,000 to 480,000
Initial jobless claims for the week ended December 12th came in at a seasonally-adjusted (SA) 480,000, which is a rise of 7,000 from the previous week. This brings the 4-week SA average down to 467,500, the lowest in 15-months. …
U.S. forfeiting billions in future taxes to let Citi repay TARP
The Washington Post is reporting that the federal government has quietly decided to exempt Citigroup from a large future tax bill in allowing it to exit the TARP program. This is a backdoor bailout worth billions and is an outrage…
Gasparino: No woodshed for the fat cats, just a lovefest
Max Keiser and Yves Smith pointed me to an article by frequent CNBC contributor Charlie Gasparino on Obama’s fat cats meeting. I love Yves’ feigned surprise. Here are a few excerpts from Gasparino followed by a link to the full article.…
Christmas spirit Wall Street edition
Source Tom Stiglich – Journal Register Newspapers See the Disney version via Scrooge McDuck here. Bah, Humbug.
Bank collapse in Austria brings debt in Eastern Europe center stage
In the links yesterday, I pointed to an FT article detailing the Austrian government’s nationalization of the insolvent bank Hypo Group Alpe Adria (HGAA). The financial institution, which has 40 billion Euros in assets, is the country’s…
Wells Fargo becomes last of big banks to repay TARP
Wells Fargo has announced it is to repay $25 billion in funds it received from government under the Troubled Asset Relief Program. This makes Wells the last of the big banks to repay its TARP funds. In announcing the decision, the…
Video: Abu Dhabi bails out Dubai
There will be no Dubai sovereign default. The government of oil-rich Abu Dhabi surprised investors this morning in announcing a $10 billion rescue package to pay for upcoming obligations of embattled Dubai World. Below Richard…
Citi to repay $20 billion in bailout money
Citigroup has confirmed it will repay $20 billion of the bailout money it has received from government, becoming the latest big bank to exit the TARP (troubled asset relief program). To prevent capital ratios from dipping, the company will…
Video: Italian Premier Silvio Berlusconi punched in the face
See also FT.com - Berlusconi assaulted at Milan rally