Just In Case You Think Greece Is Saved!

It took the charming three tries for Greece to get its third “bailout”, which incidentally does not bail out anyone except the hedge funds who went long GGBs because the only actual winners resulting from yesterday’s transaction – those benefiting from Europe’s AAA club fund flows are hedge funds as explained previously. As for Greece, […]

Your Hard-Earned Money is Being Shipped to France, Germany and China

Just in case you thought that the US bail outs actually helped the US banks think again and you just might like to reconsider who we are going to bail out in the future. Because bailing out we will you can bank on that. Under the guise of “bailing out” AIG, your hard-earned money is […]

Bailout Money – Instead of Being Used to Stabilize the Economy or Even the Bailed-Out Companies – is Just Going to Line the Pockets of the Wealthy

The bailout money is just going to line the pockets of the wealthy, instead of helping to stabilize the economy or even the companies receiving the bailouts: Bailout money is being used to subsidize companies run by horrible business men, allowing the bankers to receive fat bonuses, to redecorate their offices, and to buy gold […]

Former Countrywide executives cash in on federal housing bailout

After overseeing a company at the very center of the still-imploding U.S. mortgage market, a dozen former executives are now poised to make millions from the housing crisis. Stanford L. Kurland, the former president of Countrywide Financial the bank that has become most synonymous with the bad mortgage lending practices that eventually caused the housing […]

AIG in talks with U.S. government, sees $60 billion loss: source

NEW YORK (Reuters) – American International Group, rescued twice last year by the U.S. government, is asking for more aid and bracing for a fourth-quarter loss of roughly $60 billion, a source familiar with the matter said. It would be the biggest loss in a quarter in corporate history. The $60 billion would exceed Time […]

We can’t aid them all, says English

Just in case you were still hoping that you with your small business or your farm could still count on that personal phonecall from John Key. Finance Minister Bill English has warned that businesses will go to the wall as the recession bites and most cannot expect government help. Prime Minister John Key has signalled assistance […]

GM finance arm silent on crucial Govt bailout

Ok, so  the car manufacturers conned their workers into believing they are trying to save their jobs. Only they will have to take lower pay and longer hours and the squeeze a measly 15 billion out of the US congress and than they become banks and fleece their workers out of billions and billions of […]

GM, Chrysler considering bankruptcy: report

At the moment the official unemployment figure in the US is 6.5% up from last year’s 4.4%.That represents 3.9 million people. If we assume that unemployment of 10% of a non farm (this means that the actual labour force is bigger, in fact according to the CIA the total labour force is more than a […]

Stern warning from China’s central bank

The risks of an economic downturn in China are growing and protectionist sentiment abroad could hurt global growth, the country’s central bank said overnight. “The impact of the international financial crisis is intensifying, and the uncertainty of the domestic economy is increasing. The risk of an economic slowdown is expanding,” the People’s Bank of China […]

Banking System Will Need Another $500 Billion: Gross

Ooh oops, the $ 700,- bailout is not enough. Hey tax payers we would like some more money please. How’s about another $ 500 billion The banking system needs another $500 billion to survive beyond the $700 billion rescue plan being contemplated by Congress, said Pimco founder Bill Gross. Gross said on CNBC that the […]

Merril Lynch bail out or buy out

ank of America’s buyout of Merrill Lynch seemed laughable to me – that is until I realized the full picture. With a $50 billion all-stock deal valued at $29 per share, at first glance it might appear that Bank of America doesn’t stand to lose much considering its stock is at least 50% overvalued by […]

Economic Free Fall?

Washington can act with breathtaking urgency when the right people want something done. In this case, the people are Wall Street’s titans, who are scared witless at the prospect of their historic implosion. Congress quickly agreed to enact a gargantuan bailout, with more to come, to calm the anxieties and halt the deflation of Wall […]