Posts filed under “Video”
Unveiling his plans to save the lenders, with William Ackman, Pershing Square Capital Management managing partner
"This is a conservatorship, which is a good thing, because you can accomplish it more efficiently," Ackman said.
Ackman: A Plan to Save Fannie & Freddie
CNBC.com | 15 Jul 2008 | 10:30 AM
I did three segments Tuesday on Yahoo Tech Ticker at the Nasdaq:
Here is the first, on closing shorts and getting a bounce:
Click for video
We ran out of time, but I was going to discuss the infrastructure plays also . . .
Wild Times on Wall Street: What Now for Investors?
Yahoo Tech Ticker, Jul 15, 2008 07:00am EDT
"I don’t know where these guys get the audacity to take our money, taxpayer money, and buy stock in Fannie Mae,” Rogers, 65, said in an interview from Singapore. “So we’re going to bail out everybody else in the world. And it ruins the Federal Reserve’s balance sheet and it makes the dollar more vulnerable and it increases inflation.”
The chairman of Rogers Holdings, who in April 2006 correctly predicted oil would reach $100 a barrel and gold $1,000 an ounce, also said the commodities bull market has a "long way to go” and advised buying agricultural commodities.
click for video
The U.S. Treasury Department’s plan to shore up Fannie Mae and Freddie Mac is an "unmitigated disaster” and the largest U.S. mortgage lenders are "basically insolvent,” according to investor Jim Rogers.
Taxpayers will be saddled with debt if Congress approves U.S. Treasury Secretary Henry Paulson’s request for the authority to buy unlimited stakes in and lend to Fannie Mae and Freddie Mac, Rogers said in a Bloomberg Television interview. Rogers is betting that Fannie Mae shares will keep tumbling…
"These companies were going to go bankrupt if they hadn’t stepped in to do something, and they should’ve gone bankrupt with all of the mistakes they’ve made,” Rogers said. “What’s going to happen when you Band-Aid and put some Band-Aids on it for another year or two or three? What’s going to happen three years from now when the situation’s much, much, much worse?” . . .
The U.S. economy is in a recession, possibly the worst since World War II, Rogers said.
"They’re ruining what has been one of the greatest economies in the world,” Rogers said. Bernanke and Paulson "are bailing out their friends on Wall Street but there are 300 million Americans that are going to have to pay for this.”
Fannie Plan a `Disaster’ to Rogers; Goldman Says Sell
Carol Massar and Eric Martin
Bloomberg, July 14 2008
Don’t Bail Out Fannie, Freddie: Jim Rogers
CNBC.com | 15 Jul 2008 | 05:02 AM ET
Here’s some sad news that has yet to hit the wires: Herb Greenberg has resigned as a full-time contributor to CNBC. (No, he’s not going to Fox Business).
Here’s what Herb wrote to CNBC:
Just an FYI: I’ve pulled myself out of the contributor
rotation to focus exclusively on my business, which has become
more-than-a-fulltime job. It wasn’t an easy decision to walk away. I’ll still be
available from time to time as a non-contributor guest, as time permits, and I
remain committed to CNBC.
Herb will be missed on CNBC — he is a skeptical voice of reason who oftentimes doubts the nonsense spin we hear all too frequently from corporate executives. And, he’s been proven right far too many times to ignore. He will be missed.
Herb’s new firm is called Greenberg Meritz, and the focus will be "Bridging Financial Journalism and Forensic Analysis."
We wish him luck at his new venture, and if he ever wants to get some info out to a wider distribution, our doors are always open . . .
News Corp. Chief Executive Officer Rupert Murdoch said
he is "very bearish” on the economy as food and energy prices rise for
Murdoch said he anticipates "another 12 months of hard slogging”
during a television interview from the Allen & Co. media conference
in Sun Valley, Idaho. He said the entertainment industry is "doing just
fine” so far.
"Every country in the world has serious food inflation and then of
course you’ve got the same thing with energy,” he said. "It’s really
Media stocks have been overly penalized, Murdoch said. News Corp., based in New York, had dropped 30 percent this year before today on investor concern about a slowdown in advertising and the company’s MySpace social-networking Web site. Time Warner Inc., the biggest U.S. media company, had lost 16 percent, and No. 2 Walt Disney Co. is down 8.5 percent.
News Corp. Chief Says He’s `Very Bearish’ on Economy
Greg Miles and Gillian Wee
Bloomberg, July 10 2008
Not my favorite Bear — but give credit to Bloomberg for the timing of this interview:
David Tice, founder of the $1.2 billion Prudent Bear Fund in St. Thomas, Virgin Islands, discusses the U.S. equity market. The Standard & Poor’s 500 Index may drop below 800 as the economy slows, he said. The benchmark for U.S. stocks fell 2.3 percent today to 1,244.69, sending the index into its first so- called bear market since 2002.
On the market’s decline: "We sometimes we use the word `depression’ because a recession connotes really just an inventory adjustment, etc. What we’re talking about doesn’t have to be as bad as the Great Depression, but it’s a major long-term readjustment of the economy.”
Prudent Bear Founder Tice Says S&P 500 Will Fall Below 800
Michael McKee and Katherine Greene
Bloomberg, July 9 2008
Ted Koppel has a four part series on the Discovery channel, beginning tonight, on China.
Part 1: Joined at the Hip — Wed., July 9, at 10 p.m. ET/PT
Part 2: MAOism TO MEism — Thur., July 10, at 10 p.m. ET/PT
Part 3: The Fast Lane — Fri., July 11, at 10 p.m. ET/PT
Part 4: It’s the Economy, Stupid — Sat., July 12, at 10 p.m. ET/PT
It looks quite fascinating . . .
Ted Koppel’s ‘Capitalism’ pays off big
USA TODAY, July 08 2008
Ted Koppel Opens Up About Meet the Press, Nightline and Conan
Media Bistro, TUESDAY JUN 24, 2008
The People’s Republic of Capitalism
Review: ‘People’s Republic of Capitalism’ on Discovery
Discovery, July 9, 2008
tonight through Saturday at 10