Archive for the ‘creidt crisis’ Category
Friday, July 15th, 2011
Credit ratings agency Standard & Poor’s roiled the markets yesterday with a pronouncement that it has placed the United States of America’s “’AAA’ long-term and ‘A-1+’ short-term sovereign credit ratings on CreditWatch with negative implications.”
This comes on the heels of a possible Moody’s downgrade announcement a day prior. “Moody’s Investors Service has placed the Aaa bond rating of the government of the United States on review for possible downgrade given the rising possibility that the statutory debt limit will not be raised on a timely basis, leading to a default on U.S. Treasury debt obligations.”
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Tags: bailout, economy, Financial Regulatory Reform
Posted in General, creidt crisis | 1 Comment »
Thursday, March 31st, 2011
Last night while channel surfing I came across CSPAN and saw Neil M. Barofsky, the special inspector general for the Troubled Asset Relief Program (TARP), testifying before a Congressional committee. The discussion was disturbing and the conclusions that were drawn were equally disturbing. The conclusions were basically that TARP succeeded in bailing out the large investment banks but failed in its other mission. Specifically in getting credit flowing to help small business and individual Americans—you know the folks who paid for it — and create jobs. (more…)
Tags: bailout, Financial Regulatory Reform, TARP
Posted in Regulatory/actions, creidt crisis | No Comments »
Friday, February 4th, 2011
There has been a lot written to try and explain the banking bailouts, especially the Troubled Asset Relief Program (TARP). Recently, a lot has been made about these TARP loans actually being profitable for the U.S. government. Additionally, a few places have begun uncovering the actual cost of the bank bailouts. (more…)
Tags: bailout, TARP
Posted in Uncategorized, creidt crisis | No Comments »
Friday, January 28th, 2011
Yesterday Bloomberg reported that Goldman Sachs profited $2.9 billion for its own account thanks to the taxpayer bailout of American International Group Inc (AIG) according to a congressionally appointed panel.
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Tags: Goldman Sachs, TARP
Posted in creidt crisis | No Comments »
Tuesday, December 14th, 2010
In a somewhat strange comment letter, a group of financial trade groups have asked financial regulatory agencies to slow down the pace of its rule implementation of the Dodd-Frank Act. Strange in that representatives of the private sector more often than not view government workers as being slow and plodding. Most would say that those government workers wouldn’t last very long in the private sector where efficiency is a must.
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Tags: bailout, CFTC, Financial Regulatory Reform
Posted in Regulatory/actions, creidt crisis | No Comments »
Friday, December 3rd, 2010
The Financial Times reported yesterday that non-U.S. banks were among the biggest users of the $3.3 trillion in emergency lending facilities and programs created to address the financial crisis that emerged in the summer of 2007.
We know this thanks to the Dodd-Frank Act, which requires the Federal Reserve to post transaction level details of the 13 facilities and programs instituted by the Fed to help alleviate the global credit crisis.
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Tags: bailout, Congress, Federal Reserve, subprime, TARP
Posted in Regulatory/actions, creidt crisis | No Comments »
Tuesday, October 5th, 2010
The Financial Times published a commentary on Monday talking about the success of the Troubled Asset Relief Program (TARP). The basic premise of the story seemed to be that for a piece of legislation that has been roundly criticized — demonized even — TARP has actually been successful in doing what it was supposed to do. In a sense TARP is the Rodney Dangerfield of legislative programs.
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Tags: bailout, Federal Reserve, TARP, Treasury
Posted in creidt crisis | 2 Comments »
Tuesday, September 21st, 2010
With all the speculation of the U.S. economy entering into a double dip recession it is appropriate to note that it is now possible because the arbiter of such things has officially determined that we are out of the recession that began in December 2007.
The Business Cycle Dating Committee of the National Bureau of Economic Research (NBER) met on Monday and determined that “a trough in business activity” occurred in the U.S. economy in June 2009.
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Tags: bailout, Federal Reserve, Treasury
Posted in creidt crisis | 1 Comment »
Thursday, August 26th, 2010
The economic crisis we are in started with housing so it would only make sense that a recovery in the housing sector is what is needed to bring us out of it.
Unfortunately all of the news on housing has been pretty grim. It started Tuesday with word that existing home sales for July dropped 27.2% from July of 2009. And July of 2009 wasn’t a really good month. Wednesday it was reported that new homes sales in July drop 12.4% from June and 32.4% from July 2009.
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Tags: credit crisis, Housing
Posted in creidt crisis, economy | No Comments »
