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September 2008 - Around The Web



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  • Fast Money: Without Bailout, Is Recession Inevitable?
    Published Mon, Sep 29 2008 9:38 PM by CNBC
  • Hedge funds face loss of investors
    Published Mon, Sep 29 2008 9:37 PM by www.ft.com
    Hedge funds are braced for massive withdrawals by wealthy clients as the sector's worst year prompts a flight to the safety of cash, according to investors and managers
  • Paulson to Try Again
    Published Mon, Sep 29 2008 9:36 PM by Calculated Risk Blog
    From Bloomberg: Paulson to Work Quickly With Congress to Revive Plan (hat tip Ministry of Truth)U.S. Treasury Secretary Henry Paulson said he will work with Congress to salvage a $700 billion rescue plan ... ``We need to work as quickly as possible; we...
  • Why the bailout bombed
    Published Mon, Sep 29 2008 9:35 PM by rss.cnn.com
    Barely containing his temper, Virginia's Eric Cantor, deputy whip for the House Republicans, stepped to the microphone this afternoon to blame the bailout defeat on House Speaker Nancy Pelosi's "failure to listen" and her charged partisan...
  • Run ends on money market funds
    Published Mon, Sep 29 2008 9:34 PM by rss.cnn.com
    Investors have stopped fleeing money-market funds, a week after the federal government said it would insure fund shares don't lose their value.
  • Credit Stress: Repos Behaving Badly
    Published Mon, Sep 29 2008 9:33 PM by feeds.feedburner.com
    This report from : Rates in the $7 trillion-a-day market for borrowing and lending securities show that the logjam in credit markets is approaching the level seen after the March collapse of Bears Stearns Cos. Securities that can be borrowed at interest...
  • Fed Adds $300 Billion to Term Auction Facility
    Published Mon, Sep 29 2008 9:32 PM by feeds.feedburner.com
    This is on top of the $330 billion increase in dollar swap lines we mentioned this morning. From : The Federal Reserve will pump an additional $630 billion into the global financial system, flooding banks with cash to alleviate the worst banking crisis...
  • All the Kings Horses and All the Kings Men . . .
    Published Mon, Sep 29 2008 9:31 PM by feedproxy.google.com
  • Ron Paul on the Bailout
    Published Mon, Sep 29 2008 9:31 PM by feedproxy.google.com
    Ron Paul schools the rest of the House on the Bailout bill September 29, 2008 C-SPAN via
  • Republican news conference: It was Pelosi's partisan speech that lost the vote
    Published Mon, Sep 29 2008 9:31 PM by wallstfolly.typepad.com
    We heard Nancy Pelosi's speech just prior to the vote and couldn't believe how she was sticking it to the Republicans. It's no wonder the vote failed. And that's what Republican Minority Leader John Boehner and Eric Cantor are both...
  • The U.S. Banking System is Effectively Insolvent
    Published Mon, Sep 29 2008 3:55 PM by Seeking Alpha
    submits: I have said before that a systemic response is necessary to deal with the present banking crisis in the United States. This crisis has nothing to do with subprime assets and little to do with things like predatory lending. Those are issues that...
  • National City's line in the sand
    Published Mon, Sep 29 2008 3:54 PM by rss.cnn.com
    National City insists it isn't about to follow in the footsteps of Wachovia and Washington Mutual. But the events of the past week suggest the bank's depositors are the ones who will make that decision.
  • Bailout rejection hurts McCain, House Democrats, analysts say
    Published Mon, Sep 29 2008 3:54 PM by www.marketwatch.com
    The House’s rejection of a $700 billion bailout plan isn’t good news for either Republican presidential candidate John McCain or the chamber’s Democratic leadership, analysts say.
  • Sheila Bair "commercial banking system in the US remains well capitalized"
    Published Mon, Sep 29 2008 3:54 PM by feeds.feedburner.com
    Today the FDIC announced . Citigroup Inc. will acquire the banking operations of Wachovia Corporation; Charlotte, North Carolina, in a transaction facilitated by the Federal Deposit Insurance Corporation and concurred with by the Board of Governors of...
  • Mark to Market Accounting: Kill It Before It Eats Us Alive
    Published Mon, Sep 29 2008 2:48 PM by Seeking Alpha
    submits: We need to kill mark to market accounting before it eats us alive. These accounting rules are like The Blob, an alien life form that consumes everything in its path as it grows and grows. Both the Blob and mark to market accounting crawl, creep...
  • The Lowdown on Citi / Wachovia
    Published Mon, Sep 29 2008 2:48 PM by Seeking Alpha
    As a Wachovia (WB) investor, I was shocked by this morning's news - it was just too much, too fast. Anyway, based on the news this morning, here is the lowdown on the deal. Citi (C) takes over Wachovia's banking/mortgage business: Citi pays Wachovia...
  • Are Banks Too Big to Save?
    Published Mon, Sep 29 2008 1:27 PM by feeds.feedburner.com
    An excellent comment in the Financial Times by Wolfgang Munchau discusses how the gold standard for handling banking crises, the Swedish model, would take even more discipline to implement in the US and how we are dong the reverse of what is needed.It...
  • Roubini: It didn't have to be this way
    Published Mon, Sep 29 2008 1:26 PM by ml-implode.com
    ``the restoration of the financial health of distressed financial firms could have been achieved with a cheaper and better use of public money... ....via public injections of preferred shares into these firms; via required matching injections of Tier...
  • Is National City Next to Go?
    Published Mon, Sep 29 2008 1:25 PM by www.thetruthaboutmortgage.com
    Shares of Cleveland, Ohio-based bank and mortgage lender National City plummeted in early trading Monday as investors pondered the next great collapse. With the company now trading at all-time lows, interim National City CFO Thomas Richlovsky was prompted...
  • Key Flaws in the Bailout Legislation
    Published Mon, Sep 29 2008 1:25 PM by Seeking Alpha
    submits: On compensation, which is central to reforming the banks, and equity participation and essential for insulating the taxpayers from loss, the legislation is not what is being advertised by the Administration and the Speaker. The bailout hardly...
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