Archive for freddie mac
China: Overcapacity – Commodity Stockpiling
Posted in Uncategorized with tags bailouts, banana republicans, bank, bank of america, bank run, banking, bankrupt, bankruptcy, banks, bear stearns, bubble, bushonomics, Citibank, clintonomics, corruption, crash, credit bubble, credit crisis, depression, depresson, economy, fannie mae, FDIC, Federal Reserve, financial panic, freddie mac, GOP, housing bubble, HSBC Bank USA, indymac, inflation, J.P. Morgan Chase, laffer curve, Lehman, mania, mcconomy, mortgage crisis, naked short selling, natiionaliize, panic, reaganomics, real estate, recession, republican disease, retail, stagflation, stock market, sub-prime, supply side economics, treasuries, voodoo economics, wall street on October 23, 2009 by highboldtageBank failures hit 106 on year
Posted in Uncategorized with tags bailouts, banana republicans, bank, bank of america, bank run, banking, bankrupt, bankruptcy, banks, bear stearns, bubble, bushonomics, Citibank, clintonomics, corruption, crash, credit bubble, credit crisis, depression, depresson, economy, fannie mae, FDIC, Federal Reserve, financial panic, freddie mac, GOP, housing bubble, HSBC Bank USA, indymac, inflation, J.P. Morgan Chase, laffer curve, Lehman, mania, mcconomy, mortgage crisis, naked short selling, natiionaliize, panic, reaganomics, real estate, recession, republican disease, retail, stagflation, stock market, sub-prime, supply side economics, treasuries, voodoo economics, wall street, Wells Fargo Bank on October 23, 2009 by highboldtageBy Greg Morcroft, MarketWatch
NEW YORK (MarketWatch) — Seven more banks failed Friday, pushing the 2009 total to 106 and marking the first year since 1992 that at least 100 have gone under
Experts suggest we could be no more than 10% of the way through this cycle of bank collapses, which is sure to be the worst run of closures since the Great Depression.
http://www.marketwatch.com/story/bank-failures-hit-100-for-year-2009-10-23
Matt Taibbi on Wall Street Criminals
Posted in Uncategorized with tags bailouts, banana republicans, bank, bank of america, bank run, banking, bankrupt, bankruptcy, banks, bear stearns, bubble, bushonomics, Citibank, clintonomics, corruption, crash, credit bubble, credit crisis, depression, depresson, economy, fannie mae, FDIC, Federal Reserve, financial panic, freddie mac, GOP, housing bubble, HSBC Bank USA, indymac, inflation, J.P. Morgan Chase, laffer curve, Lehman, mania, mcconomy, mortgage crisis, naked short selling, natiionaliize, panic, reaganomics, real estate, recession, republican disease, retail, stagflation, stock market, sub-prime, supply side economics, treasuries, voodoo economics, wall street, Wells Fargo Bank on October 22, 2009 by highboldtageLike all the great merchants of the bubble economy, Bear and Lehman were leveraged to the hilt and vulnerable to collapse. Many of the methods that outsiders used to knock them over were mostly legal: Credit markers were pulled, rumors were spread through the media, and legitimate short-sellers pressured the stock price down. But when Bear and Lehman made their final leap off the cliff of history, both undeniably got a push — especially in the form of a flat-out counterfeiting scheme called naked short-selling.
The new president for whom we all had such high hopes went and hired Michael Froman, a Citigroup executive who accepted a $2.2 million bonus after he joined the White House, to serve on his economic transition team — at the same time the government was giving Citigroup a massive bailout. Then, after promising to curb the influence of lobbyists, Obama hired a former Goldman Sachs lobbyist, Mark Patterson, as chief of staff at the Treasury. He hired another Goldmanite, Gary Gensler, to police the commodities markets. He handed control of the Treasury and Federal Reserve over to Geithner and Bernanke, a pair of stooges who spent their whole careers being bellhops for New York bankers. And on the first anniversary of the collapse of Lehman Brothers, when he finally came to Wall Street to promote “serious financial reform,” his plan proved to be so completely absent of balls that the share prices of the major banks soared at the news.
http://www.rollingstone.com/politics/story/30481512/wall_streets_naked_swindle
AND THEN WHAT? Prolonged Aid to Unemployed Is Running Out
Posted in Uncategorized with tags bailouts, banana republicans, bank, bank run, banking, bankrupt, bankruptcy, banks, bubble, bushonomics, clintonomics, corruption, crash, credit bubble, credit crisis, cutbacks, depression, depresson, downsize, economy, fannie mae, FDIC, Federal Reserve, financial panic, freddie mac, GOP, housing bubble, indymac, inflation, job losses, jobess recovery, laffer curve, mania, mcconomy, mortgage crisis, outsource, panic, race to the bottom, reaganomics, real estate, recession, republican disease, retail, stagflation, stock market, sub-prime, supply side economics, treasuries, unemployment, voodoo economics, wall street on August 2, 2009 by highboldtageAND THEN WHAT? Prolonged Aid to Unemployed Is Running Out
ERIK ECKHOLM
Published: August 1, 2009
Over the coming months, as many as 1.5 million jobless Americans will exhaust their unemployment insurance benefits, ending what for some has been a last bulwark against foreclosures and destitution.
Because of emergency extensions already enacted by Congress, laid-off workers in nearly half the states can collect benefits for up to 79 weeks, the longest period since the unemployment insurance program was created in the 1930s. But unemployment in this recession has proved to be especially tenacious, and a wave of job-seekers is using up even this prolonged aid.
US and UK on brink of debt disaster
Posted in Uncategorized with tags bailouts, banana republicans, bank, bank run, banking, bankrupt, bankruptcy, banks, bubble, bushonomics, clintonomics, corruption, crash, credit bubble, credit crisis, depression, depresson, economy, fannie mae, FDIC, Federal Reserve, financial panic, freddie mac, GOP, housing bubble, indymac, inflation, laffer curve, mania, mcconomy, mortgage crisis, panic, reaganomics, real estate, recession, republican disease, retail, stagflation, stock market, sub-prime, supply side economics, treasuries, voodoo economics, wall street on June 9, 2009 by highboldtageUS and UK on brink of debt disaster
20 Jan 2009, 0419 hrs
LONDON: The United States and the United Kingdom stand on the brink of the largest debt crisis in history.
While both governments experiment with quantitative easing, bad banks to absorb non-performing loans, and state guarantees to restart bank lending, the only real way out is some combination of widespread corporate default, debt write-downs and inflation to reduce the burden of debt to more manageable levels. Everything else is window-dressing.
The proximate trigger of the debt crisis was the deterioration in lending standards and rise in default rates on subprime mortgage loans. But the widening divergence revealed in the charts suggests a crisis had become inevitable sooner or later. If not subprime lending, there would have been some other trigger.
The charts strongly suggest the necessary condition for resolving the debt crisis is a reduction in the outstanding volume of debt, an increase in nominal GDP, or some combination of the two, to reduce the debt-to-GDP ratio to a more sustainable level.
From this perspective, it is clear many of the existing policies being pursued in the United States and the United Kingdom will not resolve the crisis because they do not lower the debt ratio.
In particular, having governments buy distressed assets from the banks, or provide loan guarantees, is not an effective solution. It does not reduce the volume of debt, or force recognition of losses. It merely re-denominates private sector obligations to be met by households and firms as public ones to be met by the taxpayer.
BANKRUPTCY OR INFLATION
The solution must be some combination of policies to reduce the level of debt or raise nominal GDP. The simplest way to reduce debt is through bankruptcy, in which some or all of debts are deemed unrecoverable and are simply extinguished, ceasing to exist.
Bankruptcy would ensure the cost of resolving the debt crisis falls where it belongs. Investor portfolios and pension funds would take a severe but one-time hit. Healthy businesses would survive, minus the encumbrance of debt.
http://economictimes.indiatimes.com/rssarticleshow/msid-4004567,flstry-1.cms
Its Time to Dump Your Dollars – If You Still Have Cents
Posted in Uncategorized with tags bailouts, banana republicans, bank, bank run, banking, bankrupt, bankruptcy, banks, bubble, bushonomics, clintonomics, corruption, crash, credit bubble, credit crisis, depression, depresson, economy, fannie mae, FDIC, Federal Reserve, financial panic, freddie mac, GOP, housing bubble, indymac, inflation, laffer curve, mania, mcconomy, mortgage crisis, panic, reaganomics, real estate, recession, republican disease, retail, stagflation, stock market, sub-prime, supply side economics, treasuries, voodoo economics, wall street on May 30, 2009 by highboldtageCrude Oil Caps Biggest Monthly Gain Since 1999 on Dollar Drop
May 29 (Bloomberg) — Crude oil rose, capping its biggest monthly gain in a decade, as the dollar weakened against the euro, bolstering the appeal of commodities.
http://www.bloomberg.com/apps/news?pid=20601087&sid=af0H16dCeM_A&refer=home
Pink Slips Are The New Black – A Blog for the Unemployed by the Unemployed
Posted in Uncategorized with tags angry, bailouts, banana republicans, bank, bank run, banking, bankrupt, bankruptcy, banks, broke, bubble, bushonomics, clintonomics, corruption, crash, credit bubble, credit crisis, cut-backs, depression, depresson, economy, fannie mae, FDIC, Federal Reserve, financial panic, freddie mac, GOP, housing bubble, hungry, indymac, inflation, jobless, laffer curve, lay offs, mania, mcconomy, mortgage crisis, panic, reaganomics, real estate, recession, republican disease, retail, stagflation, stock market, sub-prime, supply side economics, treasuries, unemployment, voodoo economics, wall street on April 27, 2009 by highboldtageFound on the Net:
Pink Slips Are The New Black – A Blog for the Unemployed by the Unemployed
About
We’re broke.
We’re angry.
We’re frustrated.
We’re unemployed…
Like you.
There is strength in numbers. Join us.
We created this blog as way to keep you informed, entertained and enlightened.
Have tips or want to contact us? E-mail us at: pinkslipsarethenewblack@gmail.com
GM ‘Likely’ to Build in China as U.S. Factories Close – AMERICAN TAXPAYERS AND WORKERS GET THE FINGER
Posted in Uncategorized with tags banana republicans, bank, bank run, banking, bankrupt, bankruptcy, banks, bubble, bushonomics, clintonomics, corruption, crash, credit bubble, credit crisis, depression, depresson, economy, fannie mae, FDIC, Federal Reserve, financial panic, freddie mac, GENERAL MOTORS. bailouts, gm, GOP, housing bubble, indymac, inflation, laffer curve, mania, mcconomy, mortgage crisis, panic, reaganomics, real estate, recession, republican disease, retail, stagflation, stock market, sub-prime, supply side economics, treasuries, voodoo economics, wall street on April 20, 2009 by highboldtageGM ‘Likely’ to Build in China as U.S. Factories Close – AMERICAN TAXPAYERS AND WORKERS GET THE FINGER
By Stephanie Wong
April 20 (Bloomberg) — General Motors Corp., shuttering U.S. plants in a bid to avoid bankruptcy, is “likely” to build a new factory in China on surging demand.
“Operations in China are profitable and in the future China can finance its own growth,” Nick Reilly, the company’s Asia-Pacific president, said at the Shanghai auto show today. He didn’t give a timeframe for the new plant.
http://urlet.com/undesirable.payment
http://www.bloomberg.com/apps/news?pid=20601080&sid=aN4Brm9JM3_8&refer=asia
C&K Markets lays off 63 workers
Posted in Uncategorized with tags banana republicans, bank, bank run, banking, bankrupt, bankruptcy, banks, bubble, bushonomics, C&K Markets, clintonomics, corruption, crash, credit bubble, credit crisis, depression, depresson, economy, fannie mae, FDIC, Federal Reserve, freddie mac, GOP, housing bubble, indymac, inflation, laffer curve, mania, mcconomy, mortgage crisis, panic, Ray Nidiffer, ray's markets, Ray’s Food Place, reaganomics, real estate, recession, republican disease, retail, stagflation, stock market, sub-prime, supply side economics, treasuries, voodoo economics, wall street on April 14, 2009 by highboldtageGrocery store chain lays off 63 workers
Brookings, Ore.-based C&K Markets Inc., which operates 59 stores in Oregon and California, has laid off 63 employees, reduced some workers’ hours and cut the pay of others to counter a drop in sales spurred by the continuing recession. |
The Case for Letting AIG Fail
Posted in Uncategorized with tags AIG, bailouts, banana republicans, bank, bank run, banking, bankrupt, bankruptcy, banks, bubble, bushonomics, clintonomics, corruption, crash, credit bubble, credit crisis, depression, depresson, economy, fannie mae, FDIC, Federal Reserve, financial panic, freddie mac, GOP, housing bubble, indymac, inflation, laffer curve, mania, mcconomy, mortgage crisis, panic, reaganomics, real estate, recession, republican disease, retail, stagflation, stock market, sub-prime, supply side economics, treasuries, voodoo economics, wall street on March 17, 2009 by highboldtageThe Case for Letting AIG Fail
the bailout is ultimately saving the hedge funds.
http://www.time.com/time/business/article/0,8599,1885578,00.html