Bailout and Financial Crisis News

The BoJ and FOMC, BFF. Overnight, the BoJ held hands with the FOMC in keeping rates at virtually zero. They also expanded its 3 month credit program to 20t yen from 10t. Japanese stocks rallied and the yen is down but 10 yr JGB’s are little changed. Commodity prices are rallying in response. Chinese stocks [...]

1) Andy Sullivan: US stimulus added up to 2.1 mln jobs in Q4 2009: WASHINGTON, Feb 23 (Reuters) - The massive stimulus package passed last year to blunt the impact of the worst U.S. recession in 70 years created up to 2.1 million jobs in the last three months of 2009, the non-partisan Congressional Budget [...]

Nobody rings a bell at the bottom, but Governor Schwarzenegger has come out to declare that it’s all upside for his state going forward. In an interview with ABC's "This Week" program he said "I believe that the worst is over… But it’s very clear that the comeback is not going to be as quick as [...]

If team Tiger was trying to keep the sex-rehab thing quiet, PGA Commissioner Tim Finchem didn’t get the message: ABC’s John Berman: PGA Tour Commissioner Tim Finchem has confirmed Tiger Woods’ trip to rehab following reports of extramarital affairs with several women. When pressed for details about Woods and rehab, Finchem said, “He got out of rehab [...]

1) Arvind Subramanian: It is the poor who pay for the weak renminbi: Dani Rodrik of Harvard University estimates that China’s undervaluation has boosted its long-run growth rate by more than 2 per cent by allowing greater output of tradable goods, a sector that was the engine of growth and an escape route from underdevelopment [...]

If there ever was a day that encapsulates the new economic world we live in, it is today. The President in his State of the Union address will tell us how he plans to create jobs and the FOMC will tell us how they will craft the right policy to grow the economy. Also, Geithner [...]

From ABC News: Senate Dems Not Sure They Can Get Enough Votes to Reconfirm Bernanke … ABC News has learned that the Senate Democratic leadership isn’t sure there are enough votes to re-confirm Ben Bernanke for another term as chairman of the Federal Reserve. Bernanke’s term expires on Jan. 31.…[Sen. Bernie Sanders, I-Vt.], Sen. Jim Bunning, R-Ky., [...]

Regardless of what happens in the Bay State tomorrow, it’s too early to write off healthcare as dead. Nancy Pelosi told reporters today that Democrats will get a bill some way or another, according to ABC News. And now the New York Times reports that the way forward is to have the House vote directly on the [...]

When Roger Ailes started FOX News in 1996, people said he’d have no chance against CNN. This year, FOX News will likely make $700 million of profit–more money than CNN, MSNBC and the evening newscasts of NBC, ABC and CBS combined.  Ailes rules not only the news business but politics: If Ailes were a Democrat, James Carville [...]

When Roger Ailes started FOX News in 1996, people said he’d have no chance against CNN. This year, FOX News will likely make $700 million of profit–more money than CNN, MSNBC and the evening newscasts of NBC, ABC and CBS combined.  Ailes rules not only the news business but politics: If Ailes were a Democrat, James Carville [...]

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