RSSWhile the financial news media last week were focused upon the actions of Morgan Stanley possibly merging, and Goldman Sachs seeking to raise funds in lieu of being the next mega investment bank to fail, both took another direction that surprised just about everyone following their actions. Days later, they both were successful in […]
(more→)Entries from March 2009
The Financial Crisis: A Frustrated Administration and an Untrusting Congress
September 26th, 2008 by Steven Barnes
What Iraq, Afghanistan, and the War on Terror Has Cost
September 19th, 2008 by Kyle Rankin
The Congressional Budget Office recently released details of the funding of the U.S. war efforts in Iraq, Afghanistan, and the general war on terror.
(more→)Letter to Hank Paulson Jr.
September 17th, 2008 by John Eastman
September 17, 2008
Henry Merritt “Hank” Paulson Jr.
Secretary of the Treasury
United States of America
Dear Hank:
I hope you don’t mind me calling you Hank. You seem to be such a nice guy and so friendly with businessman types that I thought I’d be rather informal with you right from the start and be your […]
(more→)The Weekend News: Failures, Bankruptcy, and a Bailout Acquisition
September 15th, 2008 by John Eastman
Weekends are normally a quiet time on Wall Street as the U.S. markets are closed and trading is halted. However, lately they have become a fearful stretch of time for the U.S. finance industry. Recent weekend developments include the failure and bailout of Bear Stearns, the seizure of IndyMac, the conserveratorship effort of Fannie Mae […]
(more→)The U.S. Budget Deficit: Up, Up, and Away
September 12th, 2008 by John Eastman
The Congressional Budget Office released its Budget and Economic Outlook report this week and it included some stinging realities of the declining economic situation of the United States, particularly about the budget deficit.
The Taxpayer Stands By
September 11th, 2008 by Kyle Rankin
As taxpayers watch news of the federal government’s takeover of Fannie Mae and Freddie Mac, they realize that their taxes are being spent again, and, further, this unfolding mess is the fault of distant executives, lobbyists, and government regulators. They may begin to question the bits and pieces of the information that is streaming out […]
(more→)The Nationalization of Fannie Mae and Freddie Mac
September 8th, 2008 by John Eastman
Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE) have been placed in conservership by the U.S. Government after Treasury officials determined that the two entities had major structural flaws and that its officials’ use of accounting methods had overstated the value of its capital base or capital cushion. A conservator is defined as a […]
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