September 8, 2010

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Mortgage Rates, Gordon Brown, New Bank Capital, and Credit Crisis in 30 Slides (or Less)

October 15, 2008 By Bill Rice Leave a Comment
hair nails gifts mortgages

Mortgage Rate Update: Volatile, Float UK Prime Minister Gordon Brown claims to be leading the world through the global banking crisis and it looks like he may be right, as the US and Treasury Secretary continue to take queues from UK government action. The mounting question on the US financial crisis rescue execution front is: Will banks lend or hoard new capital? Crisis of confidence #2: Recession begins new market slippage. Major US banks begin to report quarterly earnings this week. Harbors … [Read more...]

Obama, All Markets Surge, Hedge Funds Retract, Recession

October 14, 2008 By Bill Rice Leave a Comment
finviz_thumb

Barack Obama on the Economy President hopeful Senator Barack Obama sought to capture some of the stock market rally euphoria and lock-up control of the economic issue. Presenting a much broader economic vision, Obama promised an additional $60 billion to help state and local governments, increase jobs, let individuals dip into their retirement savings tax-free, and issue a moratorium on foreclosures. Heading in to the third and final debate, it promises to be all about the "Economy, Stupid!" Foreign … [Read more...]

Update on Troubled Asset Relief Program Implementation

October 13, 2008 By Bill Rice Leave a Comment
kashkari update on tarp

Interim Assistant Secretary for Financial Stability Neel Kashkari gave his 10 day update on implementing Congress' $700 billion Treasury-led bailout. This is the visual synopsis of his remarks: (tag cloud: wordle.net, technique hat tip: Paul Kedrosky, full text: WSJ) Kashkari higlighted a strategy "with one simple goal--to restore capital flows to the consumers and businesses that form the core of our economy." Some of the highlights of implementation ("tools") include: MBS purchase program Whole … [Read more...]

Saturday Reading: G7, GM and Chrysler, Paulson-Trust Me

October 11, 2008 By Bill Rice Leave a Comment

(Bloomberg) G-7 agrees to take "all necessary steps" and will back all "systemically important financial institutions." However, they don't trust each other enough to guarantee interbank lending: The G-7 officials shied away from endorsing a U.K. proposal to guarantee lending between banks either by turning central banks into clearing houses for the loans or having governments back them. Paulson confirms his domestic priorities: Paulson signaled his top priority, having secured $700 billion rescue … [Read more...]

Morning Worldwide Central Bank Rate Cuts Trump News

October 8, 2008 By Bill Rice Leave a Comment
central bank chess game

The rush of morning economic news is all about the extraordinary, coordinated rate cut by most of the world central banks. This coordinated 0.5 percent rate cut is a growing indication of a global economy that is comprised of increasingly coupled independent national economies. The world markets over the last several days have been an eerie forecasting tool for each new market opening. Here is some of the initial coverage as markets seem to react positively: Federal Reserve explains in statement … [Read more...]

Good Quick Analysis on UK Bank Bailout

October 8, 2008 By Bill Rice Leave a Comment

Mish's Global Economic Trend Analysis does a quick, down and dirty analysis of the UK banking bailout. Bailout plan sends European indices and US futures into a predictable downward trend. Mish predicts coordinated US Fed, Bank of England, European Central Bank rate action. … [Read more...]

Government to Buy Unsecured Corporate Debt

October 7, 2008 By Bill Rice Leave a Comment

The Government is now REALLY wading taxpayers into dangerous waters-considering buying (unsecured corporate debt) commercial paper. Link tour of the issue: Credit crunch continues to spread, freezing corporate credit (NYTimes) Federal Reserve and Treasury discuss buying commercial paper (Reuters) $95 billion has flowed out of the commercial paper market in the first week of October (Telegraph) Bill Gross of PIMCO never saw a bailout he didn't like (Bloomberg) … [Read more...]

Global Contagion-UK Banks Need Capital-RBS, Barclays, Lloyds

October 7, 2008 By Bill Rice Leave a Comment
rbs, barclays, lloyds stock prices

The bad part of globalization, Global Contagion! UK banks, RBS, Barclays, and Lloyds TBS met to discuss the potential need for 15 billion pounds each. According to BBC reports the banks are not in need of capital "on paper," but are needing to shore up investor perception of their need for capital and strengthening their balance sheet. The investors definitely took the news of the meeting and "possible" request for government bailout to their stocks: Expect another roller coaster ride today … [Read more...]