Posted on January 29, 2009 by totaltrust
Update 1-29-09 from the Wall Street Journal:
In the past few days Fannie and Freddie have requested a combined $51 billion from the Treasury to compensate for losses in their loan portfolios. This comes on top of the $13.8 billion that Freddie needed in November.
The latest requests take the tab to $70 billion or so — [...]
Filed under: Politics, Rants and Raves | Tagged: Angelo Mozilo, bailouts, corporate welfare, executive compensation, fannie may, fraud, freddie mac, henry paulson, Jamie Gorelick, pay packages | 1 Comment »
Posted on January 4, 2009 by totaltrust
Update 1-05-09:
Today’s essay in the New York Times by Michael Lewis and David Einhhorn, excerpted below, should be required reading for everyone who cares about the future of America and the financial markets that should make America wealthy, not the other way around:
But this should come as no surprise, for the S.E.C. itself is plagued [...]
Filed under: Politics, Rants and Raves, distrust | Tagged: $700 billion bailout, AIG, Ben Bernanke, Congress, corporate welfare, Fannie Mae, Fed, financial services, freddie mac, Hank Paulson, henry paulson, Liar's Poker, Madoff, MBIA, Michael Lewis, moral hazard, SEC, sub-prime mortgage market, subprime mortgage market, Treasury | 1 Comment »
Posted on December 17, 2008 by totaltrust
I have yet to be surprised at the latest ridiculous, sad, and painful news that roils our financial markets and business new daily. It’s almost as if there are individuals and institutions lurking out there waiting to one-up each other in presenting their example of our broken political-economic system. We have protected those who engaged [...]
Filed under: Politics, Rants and Raves, The Economy | Tagged: AIG, Ben Bernanke, deflation, Fannie Mae, FDIC, Federal Reserve, financial bailout, freddie mac, Hank Paulson, liquidity, TARP, tax refund, Treasury Department | 2 Comments »
