The amount of the budget itself is staggering. That’s a lot of money. But even more staggering is the glaring omission: the Obama administration is planning to spend $1.6 trillion it doesn’t have.
February 3rd, 2010 | Bill Bonner | 1 comment | ContinuedAll Posts Tagged With: "TARP"
Everyone is Getting Tough on Bankers
Good ol’ Paul Volcker is giving them hell. He told a group of bankers that the only innovation they came up with that actually added value was the automatic teller machine.
December 16th, 2009 | Bill Bonner | 2 comments | Continued
Gold, A Good Bet Against Bernanke & Co
Look at it this way, where would your rather put your money…on the brains and integrity of America’s central bankers…or on a dumb metal? We’ll take the metal!
December 14th, 2009 | Bill Bonner | 3 comments | Continued
The Single Best Trade for 2010
What was the single, most damaging trade of 2009? There are a number of candidates: short stocks, short gold and long the dollar would all be in the running.
December 4th, 2009 | Steve Belmont | 0 comments | Continued
Feds Have Used the Correction to Increase Their Power and Add to Their Wealth
Noooo… We’re talking about a worthy correction…a real correction…a noble and distinguished correction…a correction that can hold its head up in public.
October 14th, 2009 | Bill Bonner | 0 comments | Continued
Can Governments and Central Banks Prevent More Credit Writedowns?
Are we changing our tune, then, about what to expect from markets? Not one bit. But the question now is timing. The collapse of 2008 was so severe because of the sudden reduction in leverage in the financial sector. As assets fell in value, the most highly leveraged firms (or lenders who raised money by selling debt) went out of business.
October 12th, 2009 | Dan Denning | 34 comments | Continued
Aren’t You the Least Bit Suspicious that Goldman is Talking Up the Banks?
Goldman Sachs has raised its rating on large banks to “attractive.” In related news, Neal Barofsky, the special inspector general for the Troubled Asset Relief Program has said that the Feds may have, er, not quite told the truth about the health of the banks receiving TARP funds. He didn’t use the word, lie though. How are these two items related? We’ll explain below.
October 6th, 2009 | Dan Denning | 4 comments | Continued
For the GSEs the Rest Has Been History
Even though the GSEs enjoyed lower borrowing costs than other corporate borrowers because of their implied U.S. government guarantee, he said, they would face higher borrowing costs if interest rates spiked. If that were to happen, the GSEs would likely be unable to grow their balance sheets or earnings.
May 14th, 2009 | Dan Denning | 1 comment | Continued
America’s Debt Woes
Mr. Timothy Geithner was the man who was on watch when the ship ran aground. His job, as head of the Federal Reserve Bank of New York, was to keep an eye on Wall Street. Now, he’s come forward with a new $1 trillion plan to get the boat back on the water.
March 30th, 2009 | Bill Bonner | 5 comments | Continued
Bernanke’s Stunning Plan
“This is a very powerful and aggressive move,” said the chief economist at Bank of New York Mellon Corp., speaking with Bloomberg Television. “One of the reasons I’ve been arguing we won’t have a depression is we’ve got a Fed chairman who understands the problem and is going to come with the right diagnosis and the right medicine.”
March 23rd, 2009 | Bill Bonner | 0 comments | Continued