July 30, 2010

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

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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...]

Government to Buy Unsecured Corporate Debt

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...]