From the category archives:
The attitude of the administration toward the results of the so-called “stress test” of the country’s 19 biggest banks seems to change every day. Will the results be kept secret? Will we just get aggregate data, or will we get an institution-by-institution breakdown? How much data will the public be given? Those are questions that [...]
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There’s an interesting article in the Wall Street Journal this morning. It talks about how banks that have received TARP funds are raising rates on various loan products and continuing to push loans that consumer advocates view as toxic. Other recent stories have highlighted how many borrowers continue to be cut off by their banks.
These [...]
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The seemingly endless line of companies looking for taxpayer-funded bailouts just keeps getting longer, and the folks in Washington show no sign of forcing anyone out of it. This morning, we’ve learned that life insurance firms will receive aid from the TARP.
From the Wall Street Journal:
“The Treasury Department has decided to extend bailout funds to [...]
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Here’s a good read over at The Daily Beast on the Obama banking recovery plan (my emphasis added). An excerpt:
“Timothy Geithner, Larry Summers, and a host of other economists—myself among them—spent the late 1990s yelling at Japanese and other Asian officials to clean up their banking crises. A typical conversation would end with the American [...]
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Once-lofty expectations for the upcoming Group of 20 meeting are heading south in a hurry. U.S. and European policymakers are having trouble agreeing on the proper combination of bank bailouts, economic stimulus, and so on. It’ll be interesting to see how the markets react (in early trading, “risk aversion” trades — stocks down, bonds up, [...]
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You have to love the way this public-private asset purchase plan is constructed. Ingenious how the administration has figured out a way to massively subsidize the banking industry and claim that’s not what it’s doing. This FT article makes clear what is really going on (I have read similar critiques at several other blogs). Here [...]
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