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It’s a great time to start a bank
With the shadow banking system of hedge funds and non-bank financial institutions in shambles and the banking system's credit shrinking, U.S. government officials are desperate to get credit into the system any way they can. A key part of…
TALF: ‘the great liquidation’ begins for hedge funds and shadow banks
An article in the FT caught our eye that makes plain that the TALF (Term Asset Security Program) is a bailout for the shadow banking system (HT Tom). The bailouts for the banking industry continue unabated despite a change in Administration…
Links: 2009-03-17
Happy St. Patrick's Day. I hope you have a good one.
Going forward in the links I will have a main link section of up to 15 links. But I will also add a few extra sections on:
Blogs I have started following
Technology (I am a tech…
Nancy Pelosi on Charlie Rose
The Speaker of the House of Representatives Nancy Pelosi examines the stimulus bill, healthcare reform, and human rights around the world with Charlie Rose.
Links: 2009-03-16 – blogger edition
I am a bit under the weather today so posting will be extremely light. I'll let my blogger brethren do the talking for me below.
Barclays - spinning out of control - FT Alphaville The lies that banks tell and how journalists deal…
AIG reveals counterparties to collateral postings
Back on March 6th, I noted that the nationalized insurance company AIG had settled Credit Default Swaps contracts with a number of counterparties at the top of the market. In effect, AIG was offering a hidden subsidy to its counterparties…
AIG: Bankruptcy would have avoided the bonus debacle
The large bonuses at AIG have sparked yet another wave of revulsion amongst American taxpeayers. And rightfully so. This company has cost taxpayers $170 billion and counting and yet the bonuses of the same individuals complicit in the…
Links: 2009-03-15
The Latest on Bank Nationalization - John Lounsbury
Bailoutspotting (Or The Search For The Great Financial Methadone Clinic) - Tyler Durden
Nationalization and Capitalism - James Kwak
Zombie solutions: The Good Bank vs Bad Bank…
Where are the perp walks?
Last summer, as a number of sinister revelations were made about the goings-on in the financial services sector, I speculated that we would definitely see the government going after individual executives for illegal activities. I saw…