All Posts Tagged With: "Dave Gonigam"
Why You Need to Worry about the Planned 401(k) Reform
It is in exactly times like these that Washingtion likes to pass under-the-radar legislation. Dave Gonigam says some ideas floated at a Congressional hearing on 401(k) and pension plans should sound alarm bells among investors.
Lehman’s $400bn Debt Settlement Could Set Off CDS Time Bomb
At 2pm New York time,the settlement auction for $400 billion of credit default swaps connected to bonds issued by Lehman Bros (NYSE:LEH) is due. This opaque derivatives market is a mystery to most investors. Dave Gonigam says the revelation of major losses is the last thing the market needs right now.
It’s No Wonder Demand for Bullion Is at Record Levels
Desidoory Saloon blogger Dave Gonigam says the modified bailout before the Senate tonight is worse than the version Congress shot down on Monday. And he says the raising the limit for bank deposit coverage included in the bill is baffling when you consider that the FDIC currently only insures 1% of total deposits. It’s no wonder demand for gold bullion is reaching unprecedented levels…
Four Questions About the Bailout Bill Failure
1. I’m not altogether sure this vote was a repudiation of the moneyed classes in this country. But what is it other than a repudiation of President Bush by 2/3 of his own party and Speaker Pelosi by 2/5 of her own party — and a wider repudiation of the White House, the Congressional leadership of both parties, and both major-party presidential candidates?
Where’s the skepticism?
Let me guess… The overriding theme among the pundit class today will be “gridlock” in Washington: With the bailout talks broken down for the moment and a presidential debate in jeopardy, why can’t our leaders “get things done” at a time of epic crisis?I’m pretty sure about all this because the overwhelming consensus among the pundit class is that a bailout is absolutely necessary — after all, Hank Paulson and Ben Bernanke say so. Once upon a time, journalists felt their job was to hold the powerful to account. Now they augment the authority of the powerful, lest they get uninvited to the cocktail parties the powerful attend.
Financial MOAB
A few years ago, military planners got all excited over a new kind of fuel-air explosive known as MOAB — the Massive Ordnance Air Blast bomb, or informally, the Mother of All Bombs.
Chumps of the Year
I know three months remain in 2008 and a lot more market turmoil is ahead of us, but at the risk of jumping the gun I’d like to offer my nominees for Chumps of the Year.
Dave Gonigam Says AIG Bailout Is ‘Tip of the Iceberg’
Dave Gonigam says the Fed’s rescue of AIG (NYSE:AIG) is just the tip of the iceberg. “The 80% stake that Uncle Sam is taking in AIG is a whole lot of garbage the Fed might have to print money to cover - $85 billion. But it’s pocket change compared to the potential closure of 1000 banks (Wilbur Ross’s estimate) or 4500 banks (Ken Lewis).
How the Fannie and Freddie Bailout Doomed Lehman (LEH)
Dave Gonigam at Desidooru Saloon has just one question today: Why have the Fed and the Treasury now decided to do the right thing and let Lehman Brothers (NYSE:LEH) go into liquidation? Could it be that the federales still don’t know how much they’re on the hook for Fannie Mae (NYSE:FNM) and Freddie Mac (NYSE:FRE)?
Where’s the Euphoria?
Latest News
- Government Rescues Will Trigger a Bull Market in Gold11:22am CDT
- Natural Gas and Water Are the Investments of the Future2:41pm CDT
- J. Cristoph Amberger Says Buy Ford, Alon, GE, GM and GM Now11:00am CDT
- Get Ready for a Big Bear Market Bounce10:31am CDT
- Italy Shores Up Banking Sector as Recession Looms10:14am CDT
- Markets Plunge on Costly Credit, Paulson to Buy Bank Shares, IMF Warns of Global Recession10:09am CDT
- Why the Dow’s 40% Nosedive May Turn Into a Safe Landing10:01am CDT
- IBM Bucks Earnings Trend as Tech-Sector Stocks Trade Down to Bargain Levels9:55am CDT
- Andrew Snyder Says Potash Corp (POT) Still Has Further to Fall9:27am CDT
- Global Investing Roundups Friday, October 10th, 20089:14am CDT
- Early Indicators: Dow 5,000?8:18am CDT
- Chuck Butler: A New Trading Theme5:31pm CDT
- Damage Limitation in a Systemic Financial Meltdown3:55pm CDT
- Dow Plunges Below 9,000 Points3:39pm CDT
- Resource Stock Roundup Thursday, October 9, 20081:19pm CDT
- This Could Be Your Last Chance to Buy Gold Below $1,0001:16pm CDT
- Base Metals Savaged Again, but Aluminum Hanging In1:07pm CDT
- Sharp Drop in Gasoline Usage notes EIA, Crude Can’t Hang Onto $901:03pm CDT
- Central Banks Coordinate a Rate Cut, It May Not Be Enough12:57pm CDT