Bailout and Financial Crisis News

Will Prudential PLC actually manage to complete its proposed acquisition of AIG Asian arm? According to The Independent (UK), CEO Tidjane Thiam has been holding meetings with investors that have been going horribly. Instead, Mr Thiam infuriated a number of investors, many of whom own large stakes in Prudential, with a series of meetings characterised as [...]

A feeling of calm and optimism is pervasive in the market right now. The economy seems to be rebounding, and there are few near-term event risks. As such the market has been drifting higher of late — not in dramatic fashion — but it has been with ease. The week ahead will give us some new housing [...]

Tyler Durden: The “Repo 105″ Scam: How Lehman Fooled Everyone (Including Allegedly Dick Fuld) And How Other Banks Are Likely Doing This Right Now | zero hedge: Stunningly, nobody at the SEC was aware of Lehman’s Repo 105 program. And guess what: NEITHER DID DICK FULD. This is unbelievable - the criminality reaches to the very [...]

Mark Zuckerberg’s hacking of email accounts and user profiles in 2004 could be felonies under Federal and state law, according to privacy lawyers. As we described last week, Mark used login data of early Facebook members to break in to the private email accounts of two Harvard Crimson editors, according to instant messages viewed by Business [...]

During the financial crisis, GM and Chrysler were bailed out but faced strict re-tooling in order to make both companies financially viable. But what about GMAC, the auto financial giant? Guess we forgot about that one, and now we could be on the hook for $6.3 billion thanks to a lack of an exit plan. ———————————————- AP: The [...]

1) Ryan Avent: Fiscal policy: The “treading water” stimulus: HERE is some food for thought, via Tyler Cowen: “This note shows that the aggregate fiscal expenditure stimulus in the United States, properly adjusted for the declining fiscal expenditure of the fifty states, was close to zero in 2009. While the Federal government stimulus prevented a net [...]

(This post appeared at Infectious Greed.) From Michael Cembalest at JPMorgan, the case for commercial real estate:  THE STOCK ARGUMENT FOR COMMERCIAL REAL ESTATE One CEO panelist whose company runs 20 mm sq ft of retail also owns 30 mm sq ft of office space.  He’s optimistic: he notes the smaller oversupply problem compared [...]

Some very interesting reading this weekend: • Why capitalism fails (Boston Globe) • Housing Help may bring another bubble  (Las Vegas Sun) • Toyota secretive on ‘black box’ data (Associated Press) • Lehman Examiner Confronts Wall Street Secrecy to Unseal Report (Bloomberg) • Government Debt: Pro & Con -Zachary Karabel, Time -Bruce Bartlett, Forbes • The Golden Age of Stock Swindlers (WSJ) • Finra, [...]

I, Robot The Mauldin Test Who Stole My Nanotech? Water, Water Everywhere, Nor Any Drop to Drink The Promise of Biotech DIY-Bio Random Takeaways Home Again, Cambridge, and Cincinnati We are in an era of accelerating change, moving toward a future that will be profoundly different from the past we grew up in. But what will the nature of that change be? What [...]

“We have the track record of them failing to take action when they should have and potentially could have averted this foreclosure crisis.” -John Taylor, CEO of National Community Reinvestment Coalition > I cannot figure out the thought process behind putting a consumer protection agency into the hands of the Fed. This is the same regulatory body that [...]

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