Tags: Bailout + Blackstone + G-20 + Geithner + Goldman + JPM + LIA + Libya + Stress test + toxic assets + Treasury
On Friday this past week, President Obama met with the Investment bankers-Bank of America (Merrill), Citigroup (SmithBarney), Goldman Sachs, JP Morgan Chase (Bear Stearns), and Morgan Stanley to discuss the public’s anger that reached a creshindo when news that the AIG bonuses had been paid. Secretary of Treasury Geithner and Fed Chief Bernanke, acting like co-dependents instead of
March 30, 2009 - Economy, Politics - 0 Comments
Tags: Brazil + China + CitiGroup + Economy + IMF + Itau Unibanco + Treasury
Yesterday Citigroup sold its 17% stake in the Brazilian credit card networking services provider Redecard SA raising $983 million. Redecard is controlled by Brazilian bank Itau-Unibanco (UBB).
The significance of this sale is that it lays the foundation for credit expansion without the US in South America and perhaps China. The implications are that accelerated credit extension to [...]
March 26, 2009 - Economy, Markets - 0 Comments
Tags: Bear Stearns + Blackrock + Blackstone + Goldman + Libyan Investment Authority + Merrill
Treasury Secretary Geithner has released his plan to mop-up the toxic assets held by banks that threaten their solvency and the global financial system. Accordingly, the plan purposes that private equity firms partner with the Fed to purchase bank assets at some discount set by the private firms at auction. Then the Fed will leverage the purchase six-fold [...]
March 23, 2009 - Economy, Politics - 1 Comment
Tags: China + devaluation + Dollar + Inflation + Japan + Quantitative Easing + Russia + Treasury + UK
Today the Federal Reserve did everything they could do. They announced plans to spend $1.5 trillion to loan and purchase debt securities of every flavor from mortgage-back bonds to consumer loans and long term treasuries. The markets rallied on the news that send interest rates and the dollar lower.
March 19, 2009 - Economy, Markets, Politics - 0 Comments
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