bailout

This comes via der Standard, an Austrian daily.  My translation below: The international financial crisis has hit eastern Europe harder than previously expected, according to a press report. At least ten states are negotiating with…

Credit in Spain is contracting at an unprecedented rate, down 33% in the first quarter as Spain faces a housing bust and near 20% unemployment. Below is my translation of part of a Spanish-language article explaining the situation.…

This past weekend I saw the film Food Inc, which I recommend highly to anyone looking to see how deregulation has affected industries other than finance.  While the subject of Food Inc was how the industrialization of food policy in…

Here’s another $25 billion giveaway to AIG.  Notice that AIG gets the upside over $25 billion. Does this ever stop?  Bloomberg reports. American International Group Inc., the insurer bailed out by the U.S. government, agreed…

Congressman Darrell Issa (R-CA) claims to have evidence supporting Ken Lewis’ original contention that he as threatened by government officials for contemplating pulling out of the BofA-Merrill deal.  Let’s review.  Two weeks ago,…

This video of US Bancorp CEO Richard Davis on CNBC is good in getting to the motivations and thinking of bank CEOs now repaying TARP monies.  Davis sounds articulate, well-prepped and diplomatic and makes a lot of sense.  You couldn’t ask…

The Washington Post is reporting that the Obama administration has rejected initial pleas from the State of California for U.S. Government aid. However, the post report reveals that Tim Geithner told California it must make get its fiscal…

Yesterday, I argued that allowing banks to repay TARP funds meant a continuation of overcapacity in financial services, which was a direct contributor to the credit crisis through its dampening impact on unlevered returns.  Some of the…

This e-mail came to my inbox from the FDIC last night: The Federal Deposit Insurance Corporation (FDIC) announced today the approval of GMAC Financial Services to participate in the Temporary Liquidity Guarantee Program (TLGP) allowing…

If you were operating under the illusion that the financial services industry was going to receive less in political favors from the Obama Administration, then you should take a look at this Tech Ticker video. Yesterday, the insurance…