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Bond markets returned to something of a middle ground yesterday after recovering from a Greece-inspired risk-off trade . Last week's key event was the inability of Greek political parties to sign off on austerity measures needed to send the current bailout to vote. This Wednesday's repeat Eurogroup meeting...
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Good Morning. The originator friendly flight to quality that led benchmark interest rates 30 basis points lower last week is now being backed out of the bond market after financial and political leaders around the world this weekend coordinated an official global effort to "stop the bleeding"...
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Geithner Says U.S. May Need More Taxpayers Funds for Bank Rescue Plan - Interview with Former Fed Director Vincent Reinhart (Bloomberg Live)
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Report and analysis by Ellen Braitman of Bloomberg News (Morning Call)
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Treasury Secretary Henry Paulson said the original idea behind the $700 billion rescue package is no longer an effective use of the allocated funds . That approach has been abandoned in favour of the Capital Purchase Plan, which is already directing liquidity into financial firms, he announced Wednesday...
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Interim Assistant Secretary for Financial Stability Neel Kashkari said today's announcement of the expanded AIG Bailout is necessary for market stability. Delivering remarks at the Securities Industry and Financial Markets Association's Summit on the Troubled Asset Relief Program, Kashkari said...
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Both Reuters and the Wall Street Journal were reporting on Monday that more than a dozen banks had signed or expressed their intention to sign on to sell preferred stock in return for government funds in the last few days. They join the original nine financial institutions which signed on to the program...
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Insurance companies MetLife Inc, Prudential Financial Inc., and New York Life Insurance Co. are all exploring the idea of selling stocks to the Federal Government , according to a Wall Street Journal Report, citing people familiar with the matter. Not only insurers, but auto makers, state governments...
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President George W. Bush assured the world markets that the U.S. government's intervention in the economy is not a government takeover but a measure designed to restore stability to markets. Delivering remarks before the U.S. Chamber of Commerce, Bush said the recent intervention is " not a...
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U.S. Treasury Secretary said the government's recent $250 billion purchase in shares of U.S. banks was " anything but a nationalization ." In an interview with CNBC Wednesday night, he described the government as a "passive" shareholder and emphasized the move was done to boost...
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Federal Reserve Vice Chairman Donald Kohn said the U.S. government's recent decision to buy $250 billion in financial firm stocks is not enough to shore up the economy - but is a "key building block." He said he hopes private capital investment will follow the government purchase. Speaking...
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In an interview with the Financial Times , U.S. Treasury secretary Henry Paulson says his rescue plan is "getting at the root causes" of the financial crisis. Still, he said, "we have more work to do" and the plan is not an "end to financial stress." Paulson said the $250...
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The lack of confidence in the U.S. financial system "must be conquered because it poses an enormous threat to our economy," said U.S. Treasury Secretary Henry Paulson on Tuesday, adding that it is imperative for the government to purchase equity stakes in multiple financial institutions. Paulson...
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The U.S. Treasury says it will outline the seemingly massive bank rescue plan formulated Monday in a press conference, to be held at 8:30 a.m. Tuesday morning in Washington. According to a Wall Street Journal report, the plan will include a government purchase of equity stakes in nine top financial firms...
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An exclusive report from the Wall Street Journal says the U.S. government is weighing options on a far-reaching plan that would be the most extensive government intervention into the financial system seen so far. One dramatic step would be to guarantee billions of dollars in bank debt; the other plan...