All Posts Tagged With: "Hank Paulson"

Markets Plunge on Costly Credit, Paulson to Buy Bank Shares, IMF Warns of Global Recession

Global markets had deep sell-offs yesterday (Tuesday) as short-term credit markets remained tight, with the three-month lending rate for banks hitting a yearly high.

4 Emergency Measures You Don’t Want the President to Use

The Treasury and Federal Reserve are throwing everything but the kitchen sink to get Wall Street back on track.

But measures so far may pale in comparison to what’s to come.

Mark Nestmann says President Bush just has to declare a “state of national economic emergency” to open up a whole new range of drastic measures.

Past presidents have shut down stock markets, frozen bank accounts, taxed foreign investments and even confiscated gold.

Early Indicators: Bulls in Charge?

– US stock futures pointed up. Ironically, today’s the day that short selling of financials is allowed again.

MarketWatch reports that “S&P 500 futures rose 14.9 points to 995.90, Nasdaq 100 futures rose 30.5 points to 1,350.50 and Dow industrial futures gained 136 points.”

Global stock markets have also mostly rebounded from yesterday’s pummeling. London, Paris and Hong Kong rallied 3% following the coordinated rate cut by global central banks.

Global Investing Roundups Tuesday, October 7th, 2008

S&P Slashes RBS Rating; Dendreon’s Big Boost; Eli Lilly Comes Out Ahead on ImClone; AgFeed’s Hungry For Its Own Shares; Bank of America Surprises with Loss; Paulson Taps Another Goldman Exec.

Bailout Bill Means ‘Massive State-Sponsored Inflation’

Dan Denning says the bailout bill that just passed Congress is a recipe for “massive inflation.” In 1931, during the Great Depression, it was a different story. Back then, treasury secretary Andrew Mellon told Herbert Hoover: “Liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate. Purge the rottenness out of the system.”

Banking Crises Around The World

Do government bailouts in times of banking crises work? Crises like this are manageable. They’re expensive and painful to resolve, but even more expensive and painful when left to fester.

California May Need $7bn Loan

The state of California has joined the bailout cue. Governor Arnold Schwarzenegger yesterday warned Treasury Secretary Hank Paulson the state may need an emergency loan of as much as $7 billion from the federal government within weeks.

8 Reasons Why the Bailout Bill Will Fail

The buzz on Capitol Hill is that Congress could pass an updated version of the bailout bill before the end of the week. But Shah Gilani in Money Morning says taxpayers are being “force-fed a political solution, instead of a sound economic market-based solution to a financial crisis.” He says the the bailout bill has eight key failings.

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…

Why US Dollar and T-Bonds Are Biggest Losers in Bailout Plan

Any celebrations over this government bailout (if it gets passed) will be short lived, says Russell McDougal at Investor’s Daily Edge. The $700 billion plan will merely reinforce the fraudulent status quo in US money markets. And that means it will merely postpone the inevitable day of reckoning. Russell says this is a “disastrous long-term strategy” that will eventually wipe out the US dollar and Treasury bonds.

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