Opening Bell: 12.09.09

By Dealbreaker

Geithner Said to Be Seeking $700 Billion TARP Extension Until Next October (Bloomberg)
“There has rarely been a less loved or more necessary emergency program than TARP,” President Obama said yesterday in a speech in Washington. “I’m asking my Treasury secretary to continue mobilizing the remaining TARP funds to facilitate lending to small businesses.”
Year-End Audit Finds TARP Program Effective (NYT)
“Although the government’s response to the crisis was at first haphazard and uncertain, it eventually proved decisive enough to stop the panic and restore market confidence.”

Baroness Vadera: ‘I still have nightmares about the financial crisis (Telegraph)
The former Government minister and one of the architects of the British efforts to rescue the financial system, told a high-level business conference in Sussex: “I don’t think we are through it yet… an IMF study showed at the middle of this year that banks had only declared half their losses on their books: we have a long way to go.”
Live-Blog: UK Pre-Budget Report (The Source)
Sorry, chippies: “Chancellor Darling has imposed a 50% charge on bankers’ bonuses over £25,000. And if you’re trying to dodge it, you’ll have to be quick. It’s coming into force today. It’ll apply to all U.K. banks and building societies (mutual lenders) and includes foreign branches and subsidiaries. Oh, and it’s paid by employers. Once the banker gets it, there’s still income tax to be paid on top.”
Paulson And Co. Buying Stocks (NYT)
“Today our net long exposure is perhaps the highest it has ever been in our portfolio,” Paulson said during a luncheon presentation at the Japan Society.
U.S. SEC Sues to Freeze Assets Of ‘Ponzi Scheme’ (Reuters)
You’re on notice, Rockford Funding Group.

Comments (14)

  1. 1
    Posted by InfiniteGuest | December 9, 2009 at 8:37 AM

    TARP is the new CIT.

  2. 2
    Posted by Non-limey banker in the UK | December 9, 2009 at 8:58 AM

    80% tax in the UK….

  3. 3
    Posted by guest | December 9, 2009 at 9:09 AM

    Not being in the UK is the new killing it.

  4. 4
    Posted by pfluger | December 9, 2009 at 9:14 AM

    Why not a new tax on Tiger Wood?

  5. 5
    Posted by guest | December 9, 2009 at 9:15 AM

    Paulson + subprime == fluke
    -S.C.

  6. 6
    Posted by guest | December 9, 2009 at 9:17 AM

    Geithner is a funny guy.

  7. 7
    Posted by guest | December 9, 2009 at 9:23 AM

    I still have nightmares about Shrieky Vadera.

  8. 8
    Posted by guest | December 9, 2009 at 9:23 AM

    3 ftw

  9. 9
    Posted by guest | December 9, 2009 at 9:30 AM

    Must not have hit the high water mark this year:
    http://www.dailymail.co.uk/tvshowbiz/article-1234268/Uma-Thurman-breaks-engagement-multi-millionaire-Arki-Busson.html

  10. 10
    Posted by guest | December 9, 2009 at 9:34 AM

    29 was discussed here yesterday, thanks

  11. 11
    Posted by guest | December 9, 2009 at 10:29 AM

    @6 funny how?

  12. 12
    Posted by guest | December 9, 2009 at 12:33 PM

    @ 9- where were you yesterday when this was discussed on deal breaker?

  13. 13
    Posted by guest | December 9, 2009 at 12:37 PM

    New answer to the question, “Would you do her?”
    Answer: “Tiger Wood”

  14. 14
    Posted by Non-limey banker in the UK | December 9, 2009 at 3:02 PM

    You guys realize that we’re talking 50% tax levied on the bonus pool BEFORE they apply another 41% in top bracket income tax??
    How long until the US comes up with something similar?

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