Image via Wikipedia An interesting opinion piece in the Wall Street Journal, penned by Harvard Law School professor Mark J. Roe, argues that putting GM into Chapter 11 bankruptcy may not be as scary as GM management might want you to think: General Motors Corp. is back in Washington, this time asking for $12 billion to add to the $18 billion loan the government approved last year. The possibility of bankruptcy for GM is very real -- the company posted a loss of $30 billion in fiscal 2008. GM … [Read more...]
Obama "Big Bang," Auto Industry, First Time Home Buyer, China Stimulus Package
November 10, 2008 By Leave a Comment
Obama Gearing Up "Big Bang" Reform Plan? The Obama team is analyzing analogies of FDR and attempting to avoid warnings of Carter-style open 100 days. This is certainly on the minds of an Obama economic advisory board that is in full motion on Obama's opening economic moves. "We can't afford to wait on moving forward on the key priorities that I identified during the campaign, including clean energy, healthcare, education and tax relief for middle-class families," said Mr Obama. "We also need a rescue … [Read more...]
Small Bank Bailouts, The Great Recession, JP Morgan Loan Modifications, Global ZIRP, PMI Losses, GM No Bailout Merger
November 3, 2008 By Leave a Comment
Small Bank Bailouts Financial market calamity was narrowly averted today as Farmers National Bank of Emlenton is expected to get a much needed capital injection from the US government. William Marsh, CEO led with this, "they were giving out free stuff"-type quote in the WSJ: "It seemed like the consensus in the industry was...go out and get this," said William Marsh, president and chief executive of Farmers National Bank of Emlenton, in Emlenton, Pa. Mr. Marsh said his bank is healthy and viable … [Read more...]
EU Reshaping Capitalism, without US? Rising Deficit, Rating Agencies, GM Chrysler Merger
October 20, 2008 By Leave a Comment
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...]
