Most Regrettable Bailouts

The 5 Most Regrettable Bailouts..

IMF WARNING: Global economic crisis is far from over. Despite tentative signs of recovery.

Speaking in the run-up to the IMF's spring meeting in Washington, Dominique Strauss-Kahn, its managing director, said: “Despite some red lights and green lights ... our belief is the crisis is far from over. We have long months of economic stress in front of us.”

http://business.timesonline.co.uk

AIG: Death threats,angry letters flood e-mail inboxes. Irate callers, Senior managers submit resignations, employees don't show up at all

The A.I.G. Financial Products affiliate of A.I.G. gave out $136,928, the most of any AIG affiliate, in the 2008 cycle. I would note that A.I.G.’s financial products division is the unit that wrote trillions of dollars’ worth of credit-default swaps and "misjudged" the risk...

Read more AIG bonus bashing.....

Source: www.examiner.com

AIG gets another $30 billion cash infusion

The U.S. government is preparing to loosen the terms of its huge loan to the American International Group and provide another $30 billion to the insurer as it prepares to report a $62 billion quarterly loss, the biggest in history, on Monday, people involved in the discussions said Sunday night….

Read more AIG bailout continues…

Source: iht.com

Reliving the 1930’s – Chance for U.S. depression now 20%

The most serious concern is that the downturn will become something worse than the largest recession of the post-World War II period -- 1982, when real per capita GDP fell by 3% and the unemployment rate peaked at nearly 11%.

Could we even experience a depression (defined as a decline in per-person GDP or consumption by 10% or more)?

Read more possible depression in U.S.

Source: breitbart.com

Merrill Lynch executives now facing bonus money probe

New York’s attorney-general issued subpoenas Wednesday night to seven executives from Merrill Lynch, each of whom received a bonus of more than $10m for 2008, calling on them to give depositions concerning those payments.

Prosecutors from the office of Andrew Cuomo have been investigating the early payment of $3.6bn in cash bonuses at Merrill Lynch since late January, when they were first disclosed by the Financial Times...

Read more Seven Merrill executives face bonus probe

Source: www.ft.com

Bankers tell Obama, “Stop trashing us”

"Mr. President, of the over 8,000 banks in this country, very few ever made a single subprime loan, and they did not engage in the highly leveraged activities that brought down Wall Street firms,"..

Read more Bankers: Stop trashing us..

Source: politico

Stocks Take a Beating in February

A late burst of selling sealed a dismal finish for the stock market, which hit a fresh 12-year low on Friday as Citigroup sold a bigger chunk of itself to the government and General Electric slashed its dividend, spooking investors who were already jittery…

Read more Brutal February on wallstreet

Source: www.wsj.com

Wall Street's allure may be gone for good

Wall Street's fat cats are in the public's doghouse, and it could be a long time -- if ever -- before the eye-popping paychecks and glamour of the last two decades return.

Americans have long tolerated Wall Street's big bonuses, bigger egos and outsized influence because the firms and their executives at least made lots of money. Now, those days are over….

Read more Wall Street's allure gone?


Source: reuters

HSBC considers $20bn cash call from investors

HSBC chief executive, Michael Geoghegan, is expected to meet with key institutional investors in the Square Mile this week to gauge support for any cash call ahead of the bank’s full year results next Monday.

Meanwhile, later this week, Royal Bank of Scotland (RBS) will confirm the biggest loss in British corporate history when it reports results on Thursday....

Read more HSBC considers $20bn from investors

Source: independent.co.uk

Obama aims to cut deficit in half by 2013

"The deficit this administration inherited was $1.3 trillion or 9.2 percent of GDP.

By 2013, the end of the president's first term, the budget cuts the deficit to $533 billion or 3.0 percent of GDP," the official said on condition of anonymity...

Read more cut deficit in half by 2013

Source: reuters

Stock Market Gives Obama’s First Month An 'F

Today marks the one-month anniversary of President Obama’s inauguration. In his brief time in office, the president has overseen three massive new spending initiatives — the $787 billion stimulus bill, the trillion-dollar financial stability initiative and, most recently, the $275 billion mortgage assistance program...

Read more Stock Market Gives Obama’s First Month An 'F

Source: wowowow