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EU Reshaping Capitalism, without US? Rising Deficit, Rating Agencies, GM Chrysler Merger

October 20, 2008 By Bill Rice Leave a Comment
debt clock

Markets Overnight Mixed. Mortgage rate likely to continue upward trend on Fannie, Freddie debt sell-offs. Markets ready for Lehman $360 billion swap unwind. EU Strong-Arming US to Reshape Capitalism? President Bush, under concerns of ceding leadership of global financial leadership to the EU, agreed to hosting a global summit to have substantive talks on reshaping global financial systems. Reports indicate that French President Sarkozy was applying significant pressure to President Bush to host such … [Read more...]

Filed Under: Central Bank, Economy, G7, Mortgage Rates Tagged With: capitalism, chrysler, eu, gm, rating agencies, us

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...]

Filed Under: Auto, Economy, G7, Treasury Tagged With: auto industry, G7, paulson