Banks

Wall Street by JT20162016

Banks Keeping Mum on TARP Bailout Funds; Only Morgan Stanley Coming Clean

Morgan Stanley Is One Bank That Cites a Loan From TARP Money Other Financial Banks Including Goldman Sachs and CitiGroup Keep Mum on How They Are Using TARP Cash By CHARLES HERMAN, DAN ARNALL, LAUREN PEARLE and ZUNAIRA ZAKI ABC NEWS Dec. 17, 2008— Banks that were rescued with billions of dollars in public funds […]

Barack Obama by JT20162016

Stiglitz Calls Bad Bank Idea “Cash For Trash”

BLOOMBERG Feb. 1 (Bloomberg) — Nobel laureate Joseph Stiglitz said any decision by President Barack Obama to establish a so-called bad bank to rid financial companies of toxic assets risks swelling the national debt. Obama’s administration is moving closer to buying the illiquid assets currently clogging bank’s balance sheets and preventing them from boosting lending, […]

Wall Street by JT2016

Small Banks Getting Short End of Tarp Bat

SEEKING ALPHA William Patalon III Bank of American Corp. (BAC), which is getting $15 billion from the U.S. government as part of the Treasury Department’s $250 billion “recapitalization” effort, is doubling its stake in state-owned China Construction Bank Corp., and will hold a 20% stake worth $24 billion in China’s second-largest lender when that deal […]

Wall Street by JT2016

The 17th Floor, Where Wealth Went to Vanish

The 17th floor, where wealth went to vanish By Diana B. Henriques and Alex Berenson Monday, December 15, 2008 The epicenter of what may be the largest Ponzi scheme in history was the 17th floor of the Lipstick Building, an oval red-granite building rising 34 floors above Third Avenue in Midtown Manhattan. A busy stock-trading […]

Wall Street by JT20162016

Experts Are Bewitched, Bewildered and Befuddled By The Economy

Economy in Turmoil and Bailout Plans Adrift THE SAN FRANCISCO CHRONICLE Carolyn Lochhead, Chronicle Washington Bureau Sunday, December 7, 2008 Washington — Detroit automakers are in line behind governors who are in line behind banks, seeking emergency aid from Washington. Nearly $8 trillion in federal commitments is already out the door, and half of the […]