filed under politics recession financial crisis george w. bush is beginning to realize he made some mighty big mistakes. he admitted today that hes sorry the stock market and economy have collapsed because it happened under his watch. and he thinks that there was an intelligence failure when it comes to those iraqi wmds.
hed like us to believe that he was just a passiv...... [Show More]
filed under deals johnson and johnson jnj johnson johnson nyse jnj offered to acquire breast implant maker mentor corp nyse mnt . at 31 per share js tender offer for mentor is a 92 premium to its closing price last friday.
jj plans to run the 373 million mentor as a standalone business under its ethicon division reasoning...... [Show More]
filed under federal natl mtge fnm housing financial crisis
despite slicing the fed funds rate from 5.25 to 1 since august 2007 mortgage rates remained stubbornly high. they also remained elevated after the 800 billion bailout of fannie mae nyse fnm and freddie mac nyse fre . it finally looks like the latest plan to spend 600 billion ...... [Show More]
filed under general motors gm general motors corp. nyse gm just doesnt get it. after flying in a corporate jet to washington last week with tin cup in hand its executives have not wised up. rather than flying on public airlines like the rest of us do they want to keep flying those corporate jets. but they want to make sure nobody in the public can track t...... [Show More]
filed under citigroup inc. c bank of america bac wachovia corp wb
its been almost a year since december 12 2007 when vikram pandit took over as ceo of citigroup nyse c . his performance has been outstanding and not in a good way. during the last four quarters citi lost 20 billion. sure pandit has plans to fire 52000 p...... [Show More]
filed under financial crisis in october i suggested that one way out of the mess were in is to create 100 new banks that would be unencumbered by all the bad bets that incumbent banks have made. back then i thought that such a plan would create banks that people would be more confident to do business with. now the wall street journal has come along with a similar proposal. i am g...... [Show More]
filed under citigroup inc. c economic data housing financial crisis can someone please stop hank paulson from wasting more taxpayer money steve forbes a failed 2000 presidential candidate i met a few weeks after 911 has called paulson the worst treasury secretary in modern times . now paulson wants to launch the fourth reincarnation of the troubled asset recovery ...... [Show More]
filed under international markets magazines marketing and advertising russia politics
forbes which was formerly known as the capitalist tool is reportedly on the verge of being sold to a russian oligarch by the name of mikhail prokhorov. it turns out that the russian idea of capitalism is a bit different than the western one. but that doesnt stop forbes fr...... [Show More]
filed under international markets magazines marketing and advertising russia politics forbes which was formerly known as the capitalist tool is reportedly on the verge of being sold to a russian oligarch by the name of mikhail prokhorov. it turns out that the russian idea of capitalism is a bit different than the western one. but that doesnt stop forbes from taking r...... [Show More]
filed under recession financial crisis you can be forgiven for thinking that the bailout of wall street was limited to the 700 billion plan passed in october. but you would be off by a factor of 10. the actual number is 7.4 trillion according to bloomberg news . with gdp at 14.3 trillion that represents more than half of the sum total of all goods and services produced in the u.s.
w...... [Show More]
filed under law scandals this post is part of a feature in which he wonder whatever happened to some notorious financial felons. see all 17 .
jeffrey skilling was the enron ceo who tried to pin the blame for its 2001 bankruptcy on anyone but himself. he was not able to convince a jury however. when fortune raised questions about enron in 2001 skilling dismissed those who want ...... [Show More]
filed under employees economic data politics presidentelect obama wants his economic team to develop a plan to create 2.5 million jobs by january 2011. such a plan has the virtue of providing a specific goal and with 1.2 million jobs lost so far this year and more on the way such a goal would more than offset the lost jobs.
but setting the goal and achieving it are two differe...... [Show More]
filed under rumors politics financial crisis there is no way to know why stocks go up or down every day. thats why i always find it somewhat silly when i see simple explanations for the movement in prices. the explanation offered for todays 494 point rise is that investors are celebrating the rumor that timothy geithner will be the next treasury secretary. how does the me...... [Show More]
filed under general motors gm congress just announced that if the automobile industry comes up with a restructuring plan by december 2nd it could discuss an industry a bailout in december. for now this means no bailout until next month at the earliest. in the last three months the industry has burned through 18 billion in cash. and congress does not want to provide taxpayer ...... [Show More]
filed under citigroup inc. c as a citigroup nyse c shareholder i know that saudi prince alwaleed bin talal made a killing back in 1991 when he backed up the truck and bought shares of citi at what was then a low price of 10 a share 2 adjusted for splits. he is no doubt unhappy with the 90 drop in the value of the stock since its september 2000 pe...... [Show More]
filed under goldman sachs group gs morgan stanley ms financial crisis banks around the world have been raising capital in the last few months. if the market is efficient then the cost of capital for these banks should tell us something about how risky they are . based on the relative cost of capital of banks in the u.s. compared to those in france germany and switz...... [Show More]
filed under financial crisis prudential financial nyse pru used to have an advertisement offering consumers a piece of the rock gibra ltar. now hank paulsons 810 billion troubled asset recovery plan tarp has replaced prus rock. insurance companies around the world are angling to buy a savings loan s so they can apply for some of ...... [Show More]
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