Posts filed under “Finance”

What Did the Repeal of Glass-Steagall Do ?

Here is a question that I have been wrestling with:

What exactly did the repeal of the Glass-Steagall Act accomplish?

Were there positives as well as negatives?

Should the Gramm-Leach-Bliley Act be repealed, and Glass-Steagall reinstated?

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What say ye?

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Category: Bailouts, Credit, Finance, Legal, Regulation

Goldman: $2 Billion Loss for Q3

The WSJ is reporting that Goldman Sachs, the guys who have so far managed to avoid getting banged up by the credit crunch, has run out of luck. “Industry insiders,” whoever they may be, are suggesting losses for the Q of as much as $5 per share. Excerpt: Though analysts and investors already were bracing…Read More

Category: Bailouts, Corporate Management, Derivatives, Earnings, Finance

Bush WH Ignored Mortgage Meltdown Warnings

“In hindsight, it was spot on.” -Jeffrey Brown, former top official at the Office of Comptroller of the Currency, one of the first agencies to raise concerns about risky lending. > A brutally damning article about the warnings the Bush administration received and ignored was published this morning by the Associated Press. The AP summed…Read More

Category: Bailouts, Credit, Finance, Legal, Real Estate, Regulation

Reshaping US Banking

click for interactive graphic > Sources: Citi Faces Pressure to Slim Down U.S. Seeks Change as Part of Rescue Deal; Talks Began on Fears of Client Exodus DAVID ENRICH and DEBORAH SOLOMON WSJ, NOVEMBER 25, 2008 http://online.wsj.com/article/SB122753629931853007.html Citigroup Should Be Held Accountable, Obama Aide Podesta Says Edwin Chen Bloomberg, Nov. 28 2008 http://www.bloomberg.com/apps/news?pid=20601087&sid=akf_DTv.v8ic&

Category: Bailouts, Credit, Digital Media, Finance

Inside Look: Citigroup Gets U.S. Rescue

WTF line: “The strength of the company is underlined by this investment.”

Citi was so strong, it needed a bailout.

November 24, 2008 11:24am

Category: Credit, Finance, Video

Citi Bailout

The Bailout of Citigroup moves forward (Is this book ever going to be finished?): “Treasury and the Federal Deposit Insurance Corporation will provide protection against the possibility of unusually large losses on an asset pool of approximately $306 billion of loans and securities backed by residential and commercial real estate and other such assets, which…Read More

Category: Bailouts, Corporate Management, Credit, Derivatives, Finance

The great deflation of Wall Street

Veteran journalist William Greider on the current financial crisis and what he calls “the great deflation of Wall Street.”

click for video

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Source:
Bill Moyers
PBS, July 18, 2008

http://www.pbs.org/moyers/journal/07182008/watch2.html

Category: Credit, Finance, Real Estate, Video

The Ascent of Money: Niall Ferguson

Night Talk: An Interview With Niall Ferguson

click for video

Category: Finance, Television, Video

Buy a Toaster, Get a Free Bank

White Rabbit Cult says: hat tip FT’s Alphaville > If anyone knows how to reach White Rabbit Cult, please let me know — i would love to get permission to use this in the book . . .

Category: Bailouts, Credit, Federal Reserve, Finance, Food and Drink

BP Café

You MUST check out the BP Café ! Today, we had excellent posts from Jim Welsh, Marion Maneker, Jack McHugh, and author Vitaliy N. Katsenelson. Yesterday, it was Michael Panzner and Chris Whalen. The highlight of Wednesday morning was the monthly newsletter of Paul Brodsky & Lee Quaintance, which was mentioned in Alan Abelson’s column…Read More

Category: Credit, Economy, Finance, Markets