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Monday, September 29, 2008

The Bailout Plan is dead, T-bills falling, ....dow crashes

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The Bailout vote has failed....T-bills falling, ....dow crashes

It also provides that the government will take equity in the firms that sell the securities to the government, and limits pay packages for top executives.

The legislation comes amid great upheaval in the nation's financial system. On Monday morning, the Federal Deposit Insurance Corp., which insures deposits at failed banks, arranged for the sale of the banking assets of Wachovia (WB, Fortune 500), the nation's No. 4 bank holding company, to Citigroup (C, Fortune 500) for $2.2 billion in stock.

That follows three weeks of other shocks: the Treasury Department's seizure of mortgage finance firms Fannie Mae (FNM, Fortune 500) and Freddie Mac (FRE, Fortune 500); Wall Street firm Lehman Brothers' bankruptcy filing; rival Merrill Lynch (MER, Fortune 500) purchase by Bank of America (BAC, Fortune 500).

In addition, the Fed bailed out insurance giant American International Group (AIG, Fortune 500), loaning it $85 billion in return for a nearly 80% stake. while Washington Mutual (WM, Fortune 500), the nation's largest savings and loan, became the largest bank failure in history.

analysis
Open Letter to Congress on the Bailout Plan Mike ... Spot Gold & US 3 Month T-Bills Otto Rock 9 ... Gold Likes/Dislikes & Bouncing Dead Cats ...
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Senate leader: Significant progress on bailout
... to several "key" Senators and Congressman just went "dead" ... Not my real retirement plan, though. My wife and I are ... Wants a bail out by the tax payers. Their bad business ...
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WHAT REALLY HAPPENED | The History The US Government HOPES You Never ...
... of analysis of and revulsion for the Wall Street Bailout plan ... quick $105 billion injection of liquidity, the Dow ... Some analysts say the bail-out of the financial system could ...
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Amid GOP revolt, bailout deal breaks down
... to several "key" Senators and Congressman just went "dead" ... Not my real retirement plan, though. My wife and I are ... Wants a bail out by the tax payers. Their bad business ...
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WHAT REALLY HAPPENED | The History The US Government HOPES You Never ...
... quick $105 billion injection of liquidity, the Dow ... The Wall Street Bailout Plan, Explained ... US will struggle to pay-back some of its long-term T-bills.
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n Sunday evening, the House Republican working group, which stringently opposed earlier drafts of the plan and offered a counterproposal, indicated it would support the bill, and its members are encouraging other Republicans in the House to do the same. "Nobody wants to have to support this bill, but it's a bill that we believe will avert the crisis that's out there," House Minority Leader John Boehner, R-Ohio, told reporters. But the bill did draw some opposition during the morning debate. Rep. John Culberson, R-Texas, said the measure would leave a huge burden on taxpayers. "This legislation is giving us a choice between bankrupting our children and bankrupting a few of these big financial institutions on Wall Street that made bad decisions," he said. Other conservative Republicans argued the bill would be a blow against economic freedom. Thaddeus McCotter, R-Mich., said the bill posed a choice between the loss of prosperity in the short term or economic freedom in the long term. He said once the federal government enters the financial market place, it will not leave. "The choice is stark," he said. But there were also Democrats who opposed the bill for not doing enough to help those who taxpayers facing foreclosure or needing unemployment benefits extended, or taxing Wall Street to pay for the rescue package. "Like the Iraq war and patriot act, this bill is fueled by fear and haste," said Lloyd Doggett, D-Texas. The crisis and a proposed fix Banks and Wall Street firms, worried about both their own needs for cash and the condition of other institutions, essentially stopped loaning money to one another in recent weeks. That choked off the money being made available on Main Street in the form of mortgage loans, business loans and other consumer borrowing. The crisis stems from problems in mortgage-backed securities, which saw their value plunge as home prices have gone into their worst slide since the Great Depression and foreclosures have soared to record levels. In turn, the market for trillion of dollars worth of those securities held by major firms evaporated, sending them down to fire sale prices and raising the risk of widespread failures among the nation's major financial firms. Under the plan, Treasury will buy the mortgage backed securities, either directly from the firms or through an auction process. It may also arrange to provide guarantees for the securities up to their original values in return for premiums they would charge current holders of the securities. To make the legislation more politically palatable, the bill calls for the government, as an owner of a large number of mortgage securities, to exert influence on loan servicers to modify more troubled loans to help prevent additional foreclosures. It also provides that the government will take equity in the firms that sell the securities to the government, and limits pay packages for top executives. The legislation comes amid great upheaval in the nation's financial system. On Monday morning, the Federal Deposit Insurance Corp., which insures deposits at failed banks, arranged for the sale of the banking assets of Wachovia (WB, Fortune 500), the nation's No. 4 bank holding company, to Citigroup (C, Fortune 500) for $2.2 billion in stock. That follows three weeks of other shocks: the Treasury Department's seizure of mortgage finance firms Fannie Mae (FNM, Fortune 500) and Freddie Mac (FRE, Fortune 500); Wall Street firm Lehman Brothers' bankruptcy filing; rival Merrill Lynch (MER, Fortune 500) purchase by Bank of America (BAC, Fortune 500). In addition, the Fed bailed out insurance giant American International Group (AIG, Fortune 500), loaning it $85 billion in return for a nearly 80% stake. while Washington Mutual (WM, Fortune 500), the nation's largest savings and loan, became the largest bank failure in history.

Videos from YouTube
Title: Let's Play "WALLSTREET BAILOUT" The Rules Are... Rep Kaptur
Categories: military,economy,congress,taxcuts,gitmo,habeas,News,congresswoman,relief,mama,bush,kaptur,iraq,cheney,bill,corpus,

Published on: 9/22/2008 8:03:52 PM
Title: Palin: Bailout is about healthcare!
Categories: News,bailout,couric,news,cbs,thinkprogres,healthcare,palin,

Published on: 9/25/2008 11:25:46 AM
Title: Congressman Ron Paul Schools Bernanke on the Bailout Plan
Categories: Price,Monetary,Wall,Bail,Constitutionality,News,Bailout,Ron,Bernanke,Street,Out,Authority,Debt,Fixing,Federal,Paul,Depression,

Published on: 9/24/2008 11:32:51 AM
Title: Ron Paul Fox News 9/17/08 AIG bailout
Categories: News,Fox,Baldwin,Ron,McKinney,News,Paul,Nader,

Published on: 9/17/2008 3:23:30 PM
Title: This Is How The Bail Out Will Screw You
Categories: bad,paulson,pay,off,economy,bailou,the,henry,News,loans,money,street,john,bush,financial,treasury,loan,turks,crisis,wall,republicans,mccain,young,hank,administration,secrretary,

Published on: 9/22/2008 9:44:53 PM

The Bailout Plan is dead, Armagedon expected

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The Bailout vote has stalled....

It also provides that the government will take equity in the firms that sell the securities to the government, and limits pay packages for top executives.

Wall Street plummets ahead of bailout vote
While congressional leaders said they had the headcount to pass the vote — a Senate vote could come as early as Wednesday ... Investors give bailout plan ho-hum reception
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Source: MSNBC
NewsDateTime: 52 minutes ago

House begins to vote on $700 billion bailout
House begins to vote on $700 billion bailout ... call began, Democratic and Republican leaders were uncertain about having enough votes to pass the politically unpopular plan.
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Source: CNBC
NewsDateTime: 45 minutes ago

House is set to vote today on bailout plan; Bush prods Congress for ...
WASHINGTON (AP) _ Key supporters of a Wall Street bailout package prodded lawmakers to approve the plan hours ahead of a difficult House vote on Monday ... slated for a vote in the House later Monday and a Senate vote as early as Wednesday, would pass ...
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Source: Chicago Tribune
NewsDateTime: 1 hour ago

Dodd, Gregg, urge lawmakers to pass bailout
Dodd, Gregg, urge lawmakers to pass bailout By JULIE HIRSCHFELD DAVIS ... urge lawmakers to pass bailout · Stocks head for lower open ahead of bailout vote ... year for Calif. vintners · Who wins, who loses under proposed bailout plan? · Sold ...
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Source: Seattle Post Intelligencer
NewsDateTime: 6 hours ago

Site Presented By
Jim Lehrer asked both candidates: will you vote for the plan? Obama's answer ... excellent business reporter Justin Fox, "Capitalism Fails to ... it appears that House Republicans are sabotaging attempts to pass some form of the Paulson bailout plan.
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Source: Salon
NewsDateTime: 9/28/2008

n Sunday evening, the House Republican working group, which stringently opposed earlier drafts of the plan and offered a counterproposal, indicated it would support the bill, and its members are encouraging other Republicans in the House to do the same. "Nobody wants to have to support this bill, but it's a bill that we believe will avert the crisis that's out there," House Minority Leader John Boehner, R-Ohio, told reporters. But the bill did draw some opposition during the morning debate. Rep. John Culberson, R-Texas, said the measure would leave a huge burden on taxpayers. "This legislation is giving us a choice between bankrupting our children and bankrupting a few of these big financial institutions on Wall Street that made bad decisions," he said. Other conservative Republicans argued the bill would be a blow against economic freedom. Thaddeus McCotter, R-Mich., said the bill posed a choice between the loss of prosperity in the short term or economic freedom in the long term. He said once the federal government enters the financial market place, it will not leave. "The choice is stark," he said. But there were also Democrats who opposed the bill for not doing enough to help those who taxpayers facing foreclosure or needing unemployment benefits extended, or taxing Wall Street to pay for the rescue package. "Like the Iraq war and patriot act, this bill is fueled by fear and haste," said Lloyd Doggett, D-Texas. The crisis and a proposed fix Banks and Wall Street firms, worried about both their own needs for cash and the condition of other institutions, essentially stopped loaning money to one another in recent weeks. That choked off the money being made available on Main Street in the form of mortgage loans, business loans and other consumer borrowing. The crisis stems from problems in mortgage-backed securities, which saw their value plunge as home prices have gone into their worst slide since the Great Depression and foreclosures have soared to record levels. In turn, the market for trillion of dollars worth of those securities held by major firms evaporated, sending them down to fire sale prices and raising the risk of widespread failures among the nation's major financial firms. Under the plan, Treasury will buy the mortgage backed securities, either directly from the firms or through an auction process. It may also arrange to provide guarantees for the securities up to their original values in return for premiums they would charge current holders of the securities. To make the legislation more politically palatable, the bill calls for the government, as an owner of a large number of mortgage securities, to exert influence on loan servicers to modify more troubled loans to help prevent additional foreclosures. It also provides that the government will take equity in the firms that sell the securities to the government, and limits pay packages for top executives. The legislation comes amid great upheaval in the nation's financial system. On Monday morning, the Federal Deposit Insurance Corp., which insures deposits at failed banks, arranged for the sale of the banking assets of Wachovia (WB, Fortune 500), the nation's No. 4 bank holding company, to Citigroup (C, Fortune 500) for $2.2 billion in stock. That follows three weeks of other shocks: the Treasury Department's seizure of mortgage finance firms Fannie Mae (FNM, Fortune 500) and Freddie Mac (FRE, Fortune 500); Wall Street firm Lehman Brothers' bankruptcy filing; rival Merrill Lynch (MER, Fortune 500) purchase by Bank of America (BAC, Fortune 500). In addition, the Fed bailed out insurance giant American International Group (AIG, Fortune 500), loaning it $85 billion in return for a nearly 80% stake. while Washington Mutual (WM, Fortune 500), the nation's largest savings and loan, became the largest bank failure in history.

Published on: 9/22/2008 8:03:52 PM
Title: Palin: Bailout is about healthcare!
Categories: News,bailout,couric,news,cbs,thinkprogres,healthcare,palin,

Published on: 9/24/2008 11:32:51 AM
Title: Ron Paul Fox News 9/17/08 AIG bailout
Categories: News,Fox,Baldwin,Ron,McKinney,News,Paul,Nader,

Published on: 9/22/2008 9:44:53 PM

The Bailout Plan is officially dead

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The Bailout vote has stalled....

It also provides that the government will take equity in the firms that sell the securities to the government, and limits pay packages for top executives.

Published on: 9/22/2008 8:03:52 PM
Title: Palin: Bailout is about healthcare!
Categories: News,bailout,couric,news,cbs,thinkprogres,healthcare,palin,

Published on: 9/24/2008 11:32:51 AM
Title: Ron Paul Fox News 9/17/08 AIG bailout
Categories: News,Fox,Baldwin,Ron,McKinney,News,Paul,Nader,

Published on: 9/22/2008 9:44:53 PM

The Bailout Plan : the plan is dead

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The Bailout vote has stalled....

It also provides that the government will take equity in the firms that sell the securities to the government, and limits pay packages for top executives.

Published on: 9/22/2008 8:03:52 PM
Title: Palin: Bailout is about healthcare!
Categories: News,bailout,couric,news,cbs,thinkprogres,healthcare,palin,

Published on: 9/24/2008 11:32:51 AM
Title: Ron Paul Fox News 9/17/08 AIG bailout
Categories: News,Fox,Baldwin,Ron,McKinney,News,Paul,Nader,

Published on: 9/22/2008 9:44:53 PM

The Bailout Plan : Bailout vote fails to pass

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The Bailout vote has stalled....

It also provides that the government will take equity in the firms that sell the securities to the government, and limits pay packages for top executives.

Published on: 9/22/2008 8:03:52 PM
Title: Palin: Bailout is about healthcare!
Categories: News,bailout,couric,news,cbs,thinkprogres,healthcare,palin,

Published on: 9/24/2008 11:32:51 AM
Title: Ron Paul Fox News 9/17/08 AIG bailout
Categories: News,Fox,Baldwin,Ron,McKinney,News,Paul,Nader,

Published on: 9/22/2008 9:44:53 PM

The Bailout Plan has stalled

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Stocks tumbled Monday afternoon on worries that the government's $700 billion bank bailout plan won't be sufficient to restore liquidity to nearly frozen credit markets. The frozen markets mean banks are hoarding cash, making it difficult for businesses and individuals to get much-needed loans. (Full story) Also in play: news that troubled Wachovia had to sell its banking assets to Citigroup as the financial market crisis raged. A number of European banks also collapsed. The Dow Jones industrial average (INDU) lost 290 points, or 2.6%, with under 3 hours left in the session. The Standard & Poor's 500 (SPX) index lost 4% and the Nasdaq composite (COMP) lost 4.6%. Stocks tumbled from the get go, on a mix of the stalled bailout plan, the Wachovia news and the impact of the clogged credit markets. Treasury prices rallied, sending yields lower, as investors sought safety in government debt. Investors are concerned that the government plan didn't go into effect even sooner and that passing the bill could be a more drawn-out process than anticipated as public sentiment remains negative. Investors are also concerned about how effective the plan will be, said Alan Gayle, senior investment strategist at RidgeWorth Investments. "We are charting new territory in policy tools and implementation with this program and there's no guarantee that it will work," Gayle said.

To make the legislation more politically palatable, the bill calls for the government, as an owner of a large number of mortgage securities, to exert influence on loan servicers to modify more troubled loans to help prevent additional foreclosures. It also provides that the government will take equity in the firms that sell the securities to the government, and limits pay packages for top executives.

Home Page - Action Economics
Q2 GDP (final) revised lower to 2.8%, below median and 3.3% prelim result; U.S. bailout plan stalled out as last-ditch House Republican proposal emerged; JPMorgan acquired WaMu assets;
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Bloomberg.com: Stocks
UBS, Dexia, Fortis Retreat European stocks sank for a fourth day this week after negotiations on the $700 billion financial bailout plan stalled and Washington Mutual Inc. was ...
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Bailout Plan Update (9/26/08 @ 09:54 PST)
Despite the previous announcement that an "in principle" agreement had been reached, it appears that talks on the bailout plan stalled last night:
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Yahoo!
... the government, then sold to JPMorgan Chase. » Effect on customers $700 billion bailout plan stalled ... WaMu goes under in the largest bank failure ever; How the market crisis will ...
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Massive mortgage bailout in works
... Can Buffalo lead the way in solving nation's vacant housing problem? Wall Street bailout plan stalled ... Couple accused of selling untaxed cigarettes; Can Buffalo lead the way in solving ...
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House is set to vote today on bailout plan; Bush prods Congress for ...
WASHINGTON (AP) _ Key supporters of a Wall Street bailout package prodded lawmakers to approve the plan hours ahead of a difficult House vote on Monday, with President Bush saying it is needed to "keep the crisis in our financial system from ...
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Source: Chicago Tribune
NewsDateTime: 1 hour ago

Stocks tumble on bank fears
Stocks tumbled from the get go, on a mix of the stalled bailout plan, the Wachovia news and the impact of the clogged credit markets. Treasury prices rallied, sending yields lower, as investors sought safety in government debt.
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Source: CNN Money
NewsDateTime: 49 minutes ago

Yen Rises Most Against Dollar Since May on Stalled Bailout Plan
Sept. 27 (Bloomberg) -- The yen had its biggest advance against the dollar since May as the U.S. government's $700 billion plan to buy troubled assets from financial institutions was stymied in Congress. Japan's currency also rose against the euro ...
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Source: Bloomberg
NewsDateTime: 9/28/2008

Credit Crunch Video Gallery
The bailout plan "says the government is very proactive" and "they are not powerless," said Margie Patel from Evergreen ... Credit Markets Mostly Frozen on Stalled Bailout
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Source: CNBC
NewsDateTime: 4 hours ago

Weighing the Bailout
Mad Money host Jim Cramer shares his thoughts on the stalled bailout plan, including his belief that eventually, there will only be four sup... Dr. Doom Turns Bullish Getting the view from Dr. Doom, with Marc Faber, "The Gloom, Boom & Doom Report ...
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Source: CNBC
NewsDateTime: 9/28/2008

n Monday, President Bush and Federal Reserve Chairman Ben Bernanke praised the bill and urged Congress to pass it quickly. However, investors remained skittish amid more bank failures and banks continued to hoard cash. Meanwhile, the Federal Reserve and other central banks around the world announced steps Monday to make billions available to troubled banks. Wachovia: Citigroup is buying the company's bank assets in a $2.2 billion all-stock deal that will see the company hold onto its brokerage business and remain afloat, albeit in a smaller form. The deal calls for Citigroup to absorb up to $42 billion in losses and the Federal Deposit Insurance Corp. to be responsible beyond that. Citigroup will give the FDIC $12 billion in preferred stock and warrants in exchange. (Full story) Wachovia (WB, Fortune 500) shares plunged 90% in pre-market trading but did not open for regular trading. Citigroup (C, Fortune 500) fell 1%. Last week, JP Morgan Chase (JPM, Fortune 500) bought Washington Mutual (WM, Fortune 500), after it suffered the largest failure ever of a U.S. bank. On Monday, regional bank National City (NCC, Fortune 500) slumped 46% on worries that it might be next. Other regional banks dropped too. Bank of New York (BK, Fortune 500) fell 16%, Fifth Third Bancorp (FITB, Fortune 500) fell 23% and Regions Financial (RF, Fortune 500) fell 21%. Big banks fell too, including Goldman Sachs (GS, Fortune 500), Merrill Lynch (MER, Fortune 500) and Bank of America (BAC, Fortune 500). Global markets: Worldwide markets struggled. Asian markets tumbled and European markets were down in afternoon trading after three European banks fell apart. Dutch-Belgian bank and insurance giant Fortis was given a $16.4 billion lifeline to avoid it collapsing. The British government nationalized battered U.K. bank Bradford & Bingley. Germany's financial regulators and several banks stepped in Monday to throw a line of credit to Hypo Real Estate Holding AG in a multibillion-euro move aimed at shielding the No. 2 commercial property lender. Credit markets: Businesses depend on the credit markets to function on a daily basis, and the absence of ready capital has threatened to stall the broader financial system. Several measures of bank fears surged Monday, suggesting that despite the bailout, banks remain worried. However, as with stock markets, the freezing up could be an immediate knee-jerk reaction that is mitigated once Congress passes the bill. Additionally, credit markets may have been more focused on Wachovia and the other distressed banks, than the bailout. The Libor-OIS spread, one gauge that banks use to determine lending rates, rose to a record 2.2%. Meanwhile, the TED spread rose to 3.12%, but was short of the 3.48% level it hit in the morning. That was the highest point since at least 1982. The TED spread is the difference between what banks charge each other to borrow for three months and what the the Treasury pays. When banks charge each other a higher premium than the U.S. government, that's a sign of fear. The three-month Treasury bill, seen as the safest place to park money in the short term, fell to 0.71% from 0.83% late Friday. It had been lower in the morning. Earlier this month, the three-month bill fell to a 68-year low around 0% as panic gripped financial markets. Long-term Treasury prices rose, lowering the yield on the benchmark 10-year note to 3.69% from 3.82% late Friday. Treasury prices and yields move in opposite directions. Treasury prices have been rallying recently and yields tumbling as nervous stock market investors have looked for safer areas to move their cash. Other stock movers: Apple (AAPL, Fortune 500) slumped 13% after RBC and Morgan Stanley analysts downgraded the stock to "neutral" from "buy" saying the consumer spending slowdown will hurt profits. (Full story) A variety of other big tech stocks slumped, including Intel (INTC, Fortune 500), IBM (IBM, Fortune 500), Hewlett-Packard (HPQ, Fortune 500), Qualcomm (QCOM, Fortune 500), Cisco Systems (CSCO, Fortune 500), Dell (DELL, Fortune 500) and Applied Materials (AMAT, Fortune 500). Oil and gold: U.S. light crude oil for November delivery fell $8.14 to $98.75 as investors bet that a slowing global economy means oil demand will keep dropping. Oil prices had plummeted over $55 after peaking at $147.27 a barrel on July 11, as investors bet that sluggish global growth will diminish oil demand. But prices have seesawed in the last few weeks as the financial crisis has intensified and investors sought to put their money into hard assets. COMEX gold for December delivery rallied $9.50 to $898.00 an ounce. Like oil, gold prices had also rallied during the biggest periods of unrest over the last few weeks Other markets: In currency trading, the dollar gained against the euro and fell against the yen. Gas prices fell for the 12th day in a row, according to a nationwide survey of credit card activity.

Published on: 9/22/2008 8:03:52 PM
Title: Palin: Bailout is about healthcare!
Categories: News,bailout,couric,news,cbs,thinkprogres,healthcare,palin,

Published on: 9/24/2008 11:32:51 AM
Title: Ron Paul Fox News 9/17/08 AIG bailout
Categories: News,Fox,Baldwin,Ron,McKinney,News,Paul,Nader,

Published on: 9/22/2008 9:44:53 PM

Wachovia: Just what the Citigroup Needed

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The basis for the crisis is problems in mortgage-backed securities, which saw their value plunge as home prices have gone into their worst slide since the Great Depression and foreclosures soared to record levels. In turn, the market for trillion of dollars worth of those securities held by major firms evaporated, sending them down to fire sale prices and raising the risk of widespread failures among the nation's major financial firms.

Under the plan, Treasury will buy the mortgage backed securities, either directly from the firms or through an auction process. It may also arrange to provide guarantees for the securities up to their original values in return for premiums they would charge current holders of the securities.

Citigroup to Acquire Wachovia Assets Citigroup Inc. agreed to acquire Wachovia Corp.'s banking operations on Monday for $2.1 billion in stock and will assume another $53 billion in Wachovia debt. Citi to acquire Wachovia's banking operations MarketWatch Citigroup buys Wachovia bank biz for $2.2B CNNMoney.com Indian Rupee Falls to 2-Year Low as Funds, Importers Buy Dollar By Anoop Agrawal Sept. 29 (Bloomberg) -- India's rupee slumped to a two-year low as stock declines spurred fund outflows and a $700 billion US bank rescue plan helped bolster the dollar. Central banks inject more cash as bank crisis deepens Reuters EU vows to quickly assess state bailouts of banks Forbes Freddie, Fannie subpoenaed; SEC opens probes MarketWatch - 41 minutes ago By John Spence, MarketWatch BOSTON (MarketWatch) -- Mortgage giants Freddie Mac and Fannie Mae, both taken over by the government in the wake of the subprime mess, said Monday they have been subpoenaed by federal prosecutors. Fannie, Freddie get federal grand jury subpoenas Reuters US authorities investigating Fannie and Freddie International Herald Tribune Morgan Stanley Completes Mitsubishi Deal New York Times - 48 minutes ago By LOUISE STORY Morgan Stanley announced Monday that it had completed a previously announced deal to raise capital from Mitsubishi UFJ Financial Group, a large commercial bank in Japan. Morgan Stanley Gets $9 Billion From Mitsubishi UFJ (Update2) Bloomberg UPDATE: Mitsubishi UFJ To Pay $9 Billion For 21% Of Morgan Stanley CNNMoney.com Paulson Must Make $700 Billion Rescue for Banks Work (Update2) By Scott Lanman and Christopher Stern Sept. 29 (Bloomberg) -- Treasury Secretary Henry Paulson and congressional Democrats hammered out a consensus on spending up to $700 billion to rescue the financial industry. Shape of Massive Bailout Bill Starts to Develop Definition Wall Street Journal Treasury Would Emerge With Vast New Power New York Times Shareholders of Belgian InBev voted Monday to approve the $52 billion takeover of Anheuser-Busch, paving the way to create the world’s largest brewer. On Monday, it was reported that banking operations at Wachovia (nyse: WB - news - people ) would be heading over to Citigroup (nyse: C - news - people ). Citigroup will assume the company's senior and subordinated debt, in a huge relief to the ... Wachovia sinks as investors weigh its fate CNNMoney.com Wells and Wachovia said to be in advanced talks Bizjournals.com TheStreet.com - guardian.co.uk - MarketWatch - Zacks.com all 652 news articles » WB - WFC - C

categories - The Money Times
... tenders resignation; Automaker loans to be part of bailout; Court ... World faces possible food crisis; Longs turns down Walgreen ... polar research; Google and T-Mobile set to challenge Apple; The ...
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Forex Blog: Investing & Trading
... yielding currencies- grows, the Yen (because of low ... A government bailout will certainly stabilize Freddie and ... These new ETFs will expand this list to include the Indian Rupee ...
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domain-b.com : Indian business : economy : economy - general : index
Wall Street disappointed, US markets down 12 December ... Inflation rates falls to a 5-year low at 2.97 per cent ... Dollar fall gives Indian companies a Rs6,500 crore ...
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Asia-Pacific Business News - - Week ending May 10, 2008: China ...
... India's inflation, running at a 3 1/2 year high is ... Rupee Slides to 13-Month Low as Crude Oil at Record Boosts Dollar Demand ... Rupee Falls as Crude Oil Trading Near Record $122 Spur ...
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Fund my Mutual Fund: 2007-10-21
Entering this week I had a relatively low short ETF ... Going into Apple's call on Monday night which one knew ... India Up, China Down? Changing my Indian Focus
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he news comes as President Bush and other congressional leaders looked to shore up support for the rescue measure, which they and many on Wall Street believe is a difficult but necessary choice to revive moribund credit markets. Banks and other financial houses are hesitant to lend to one another because of fears about bad mortgage debt on companies' books. Tight lending conditions make it harder and more expensive for businesses and consumers to get a loan, which can hurt the economy. While congressional leaders said they had the headcount to pass the vote — a Senate vote could come as early as Wednesday — investors were likely to remain unnerved until the votes are complete. Investors also digested news that consumer spending in August fell to its lowest level in six months. The Commerce Department said consumer spending remained unchanged in August, rather than increasing 0.2 percent as economists had expected and the worst showing since February. Personal incomes rose a better-than-expected 0.5 percent after falling 0.6 percent drop in July. But after-tax incomes fell by 0.9 percent. Incomes benefited in past months from the government's stimulus checks. Dow Jones industrial average futures fell 169, or 1.52 percent, to 10,978. Standard & Poor's 500 index futures fell 19.80, or 1.63 percent, to 1,194.70, and Nasdaq 100 index futures fell 30.00, or 1.79 percent, to 1,644.75. Credit markets remained strained Monday. The yield on the 3-month Treasury bill, considered the safest short-term investment, fell to 0.66 percent from 0.87 percent late Friday. The yield on the T-bill falls as demand grows; investors are at times willing to take the slimmest returns to safeguard their principal. The yield on the benchmark 10-year Treasury note fell to 3.78 percent from 3.84 percent late Thursday. The dollar was mixed against other major currencies, while gold prices rose. Light, sweet crude fell $5.19 to $101.70 in premarket electronic trading on the New York Mercantile Exchange. To tamp down criticism of the plan, Congress can restrict how much of the money goes out the door at once. It also includes limits on pay packages of top executives as well as assurances that the government also would ultimately be reimbursed by the companies for any losses. The Treasury would be permitted to spend $250 billion to buy banks' risky assets, giving them a much-needed necessary cash infusion. There also would be another $100 billion for use at president's discretion and a final $350 billion if Congress signs off on it. Investors are also worried about overall sluggishness in the world's economy. In the U.S., for example, unemployment now sits at a five-year high of 6.1 percent. That rate is expected to increase, perhaps putting further pressure on consumer spending, which accounts for more than two-thirds of the nation's economic activity. For the Wachovia deal, Citigroup's acquisition will include five depository institutions and assume debt. The FDIC said Citigroup will absorb up to $42 billion of losses on a $312 billion pool of loans. The FDIC said it would cover any additional losses. The FDIC gets $12 billion in preferred stock and warrants under the deal. Citi shares fell 5.2 percent in premarket electronic trading. Investors overseas were nervous ahead of the votes in Washington and after three European governments agreed to inject Fortis NV with a $16.4 billion bailout. Fortis, with has headquarters in Brussels, Belgium and Utrecht, Netherlands, is Belgium's largest retail bank. The British government said it is nationalizing mortgage lender Bradford & Bingley, which has a $91 billion mortgage and loan portfolio. It was the latest sign that the credit crisis has spread beyond the U.S. Japan's Nikkei stock average fell 1.26 percent. Britain's FTSE 100 declined 3.23 percent, Germany's DAX index fell 2.75 percent, and France's CAC-40 fell 2.58 percent

Published on: 9/22/2008 8:03:52 PM
Title: Palin: Bailout is about healthcare!
Categories: News,bailout,couric,news,cbs,thinkprogres,healthcare,palin,

Published on: 9/24/2008 11:32:51 AM
Title: Ron Paul Fox News 9/17/08 AIG bailout
Categories: News,Fox,Baldwin,Ron,McKinney,News,Paul,Nader,

Published on: 9/22/2008 9:44:53 PM

Apple down, Bailout stalled, Indian Rupee Falls to 2-Year Low

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The basis for the crisis is problems in mortgage-backed securities, which saw their value plunge as home prices have gone into their worst slide since the Great Depression and foreclosures soared to record levels. In turn, the market for trillion of dollars worth of those securities held by major firms evaporated, sending them down to fire sale prices and raising the risk of widespread failures among the nation's major financial firms.

Published on: 9/22/2008 8:03:52 PM
Title: Palin: Bailout is about healthcare!
Categories: News,bailout,couric,news,cbs,thinkprogres,healthcare,palin,

Published on: 9/24/2008 11:32:51 AM
Title: Ron Paul Fox News 9/17/08 AIG bailout
Categories: News,Fox,Baldwin,Ron,McKinney,News,Paul,Nader,

Published on: 9/22/2008 9:44:53 PM

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Monday, September 29, 2008

The Bailout Plan is dead, T-bills falling, ....dow crashes

The Bailout Plan is dead, Armagedon expected

The Bailout Plan is officially dead

The Bailout Plan : the plan is dead

The Bailout Plan : Bailout vote fails to pass

The Bailout Plan has stalled

Wachovia: Just what the Citigroup Needed

Apple down, Bailout stalled, Indian Rupee Falls to 2-Year Low

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