• News

    Ireland Might Get A Little Money To Tide Itself Over, If Country Can Swallow Its Pride

    The Journal reports that “European finance ministers working on an international aid package for Ireland want the U.K. to make bilateral loans to Dublin as part of a larger aid package that could total up to €100 billion ($136 billion) and include credit from the euro zone and International Monetary Fund,” according to people familiar […]

    / Nov 16, 2010 at 12:43 PM
  • News

    This Is Why Ireland Is In Trouble

    From: Ian [redacted] Sent: 22 October 2010 10:24 To: John [redacted] Subject: RE: Wed

    / Nov 10, 2010 at 12:45 PM
  • News

    Just An FYI: “There will be no more taxpayer-funded bailouts. Period.”

    You’ve been warned. (This is presumably why Vikula’s attendance at the signing was mandatory– people familiar with the matter wanted to make sure he couldn’t say he never got the memo.) [WSJ]

    / Jul 21, 2010 at 2:08 PM
  • News

    Joe Cassano Coulda Been A Hero, If You’d Let Him Try

    “[Cassano] even went so far as to claim that he might have been able to help minimize the government’s bailout of AIG. Part of the money spent to save the company was funneled to more than a dozen banks that had taken out insurance contracts against AIG defaulting on its debt. “I think I would […]

    / Jun 30, 2010 at 4:48 PM
  • News

    Geithner And Bernanke: Bros Before Hos

    Brothers in arms Timmy G. and Ben B. will stand for each other ’til the end. In an interview with Politico, Timmy boy warned that the financial markets would react negatively, Armageddon will come and there will be locust showers if Ben isn’t confirmed. So there you go. He warned you. In the meantime, there’s […]

    / Jan 25, 2010 at 11:17 AM
  • News

    California Learns The Government Won’t Bail Out Everyone

    Apparently there is a limit to the government’s willingness to serve up bailouts. While GM and Chrysler were worthy of a helping hand, the state of California is being left to its own devices. As the California State Controller warned the state could be out of cash in a few weeks, White House spokesman Robert […]

    / Jun 16, 2009 at 4:40 PM
  • News

    The Everyman’s Bailout

    You know there are some vibrant green shoots when major credit card issuers are voluntarily taking 65% haircuts on some outstanding balances. Consider Bedros Alikcioglu, a gas station owner in Newport Beach, Calif. He owed $112,000 on four cards and was paying $3,000 a month in interest and late fees. “It was so hard to […]

    / Jun 16, 2009 at 12:02 PM
  • News

    Structured Products Back In The Line Of Fire

    It seems small retail investors are still a glutton for punishment. A number of retail investors learned a harsh lesson last year when the convertible feature of their reverse convertible bonds kicked in and their high yielding bonds morphed into rapidly sinking equities. There are certain varieties of structured products that retail investors can take […]

    / Jun 16, 2009 at 10:11 AM
  • News

    Are You Listening, Tim Geithner?

    You could probably find a lot of people who are against bailouts but this morning the most unintentionally hilarious one is Craig T. Nelson. Coach went on Glenn Beck last night to promote this message. He’s pretty steaming mad about all this (“I’m just sick and tired of it”), and you know what he’s going […]

    / May 29, 2009 at 9:00 AM
  • News

    The Virtues Of Insurance

    Typically when Congress can’t get the political backing to actually pass a bill to pay for something, they do the next best thing: get the political backing to guarantee something, or insure any losses. At the very least this reduces the cost of capital for the activity. Throw some tax benefits in and you go […]

    / Jan 26, 2009 at 10:19 AM
  • News

    The Credit Perspective

    The Across the Curve blog often has insightful and potent analysis, with a focus on credit markets that reveals some real expertise in the area. Today, however, its author, originally a weak supporter of government intervention, has made a rather public about-face. We are forced to agree with him. Matters are quickly getting out of […]

    / Jan 16, 2009 at 11:57 AM
  • News

    Breaking: Made-off Not Out Of The Woods

    The U.S. Government Will Appeal The Madoff Bail Ruling. They really don’t like this guy.

    / Jan 12, 2009 at 6:17 PM
  • News

    Don’t Be Nice, Kick Her Twice

    What shareholders would be the the mood for any deals in this environment? Really, it is damn ugly out there. No surprise then that Bank of America shareholders are about as interested in acquiring Merrill Lynch as a kick in the taco. Actually, though said kick has lingering effects, these are still smaller than the […]

    / Nov 24, 2008 at 10:47 AM
  • News

    Corporate Communication

    Linda: “Ok, I can’t see your nametag. There, Lloyd, is it? C’mon in. Take a seat anywhere. Ok. I think that’s the last of you. Let’s get started. Uh, ok… sir, uh… yes, you… Vi-car, is it? We couldn’t get the large nametags. Are you waiting for someone?” Vikram: “It’s Vikram, and no… I most […]

    / Nov 17, 2008 at 4:18 PM
  • News

    Feed Us. Or Else

    Your mother told you not to bring those filthy things inside, but you snuck them in anyhow. Now, blind, helpless, cold, foul smelling and featherless, the screaming, greedy mouths of the GSEs seem to gape endlessly, never satisfied and eager to suck more capital from the mouths of strained and frantic surrogates, forced to hunt […]

    / Nov 14, 2008 at 10:08 AM
  • News

    Kuwait Is Not Taking This Sitting Down

    It was not too long ago when you could write a post-dated check to a broker in Kuwait and have it immediately credited to your account to begin trading shares in Gulf state firms. (No, we did not make that up). Not that there were many things to trade in. Becoming listed on the Kuwait […]

    / Nov 13, 2008 at 4:51 PM
  • News

    Silence On Gold Not So Golden

    The British have this particular way about “discretion,” or what might in some circles be called discretion. That is to say, they keep their dirt quiet, at least as long as it takes The Sun to dig it up and scream it to the world. At that point they revel in gossiping about the sleaze, […]

    / Nov 13, 2008 at 2:31 PM
  • News

    DealBreaker Before Dawn: We Don’t Need No Stinkin’ Bailout

    Barclehs, ever the strange emo child of finance, has decided to go it alone, and will tell the UK to take its bailout money and go pound salt. Taking bailout money is so conformist, yeah. They want nothing to do with it. Cool emo kids take their not quite $12 billion from the much cooler […]

    / Oct 31, 2008 at 6:24 AM
  • News

    So Safe, You Can Sleep Soundly At Night

    How’d you like to be an investor in only the second (and third) money market fund to “break the buck.” Yes, we decided we’d pass too. The Reserve Fund, “the nation’s oldest money market fund” has gone mostly-quiet for the many investors who’s cash is anything but forthcoming, at least since it “broke the buck.” […]

    / Oct 29, 2008 at 12:25 PM
  • News

    We’re Bigger Than U.S. Steel

    Who said the Russians don’t know bailout? When Mikhail Fridman (close ally of Putin’s administration) got himself on the wrong side of Deutsche Bank and friends to the tune of $2 billion, the Kremlin simply wrote him a check, which he steadfastly refused twice before finally giving in. In Former-Soviet Russia, bailout begs for you. […]

    / Oct 29, 2008 at 9:09 AM
  • News

    I See What You Did There

    Remember, not too long ago, how much noise Congresscritters were making about “rewarding irresponsible investment bankers”? Well, CNBC has come full circle today. After The Beard was prodded after bailing out state and local governments, since we are in the bailout mood, you just knew that CNBC was going to ask why we are rewarding […]

    / Oct 20, 2008 at 12:13 PM
  • News

    (Prematurely) Grading The Bailout

    In the wake of the worst single day performance on the Euro stage in recent memory for the Dollar, you might sit up and take notice. Of course, an injection of $700 billion is going to impact the dollar however you do it, so I say ignore the European foreign exchange nerds all together. Still, […]

    / Sep 23, 2008 at 9:06 AM
  • News

    Where Does the Line for “Ultra-rich” Start and Do I Qualify?

    Congress has no right to give the White House and its Secretary of the Treasury the power to transfer the people’s money to the richest bankers in the country. Vote No to the Bailout legislation. The Bailout legislation is being rammed through Congress in a matter of days. This is an illegal power grab by […]

    / Sep 22, 2008 at 2:25 PM
  • News

    Bailout Blues

    It probably isn’t surprising that Wall Street initially focused on the figure rather than the text of The Bailout Plan (it being so large and broad in scope that proper noun capitals seem appropriate here). $700 billion looks almost comfortably close to the $1 trillion that everyone seems to think represents the amount of toxic […]

    / Sep 22, 2008 at 8:04 AM

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