The Free Market Clapper
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Looking Under The Hood Of The AIG Bailout
Reading Time: 7 minutesYesterday, amidst massive political and public opinion pressure, AIG revealed the counterparties they had paid out money to since receiving bailout money from the US government (AIG Press Release). The payouts are as follows: $22.4 billion for collateral postings under…
State of CA To Issue $2.5 Billion in General Obligation Bonds Starting Monday
Reading Time: 2 minutesLast November, the voters of CA approved more than $37 billion in bond issuance to improve the state’s infrastructure. Next Monday and Tuesday retail investors will be able to place orders for $2.5 billion in bonds that go on sale…
Krugman: Goldman Sachs Profits Are Bad For America
Reading Time: 3 minutesKrugman is relentless in his calls for increasing government involvement in the economy and regulation: What’s clear is that Wall Street in general, Goldman very much included, benefited hugely from the government’s provision of a financial backstop — an assurance that…
Looks Like A Shmashmession
Reading Time: 1 minute“The war situation has developed not necesarily to Japan’s advantage.” – Japanese Emperor Hirohito, August 14, 1945 “The economic situation has become distinctly less favorable since the time of our July report.” – Federal Reserve Chairman, Ben Bernanke, testimony to Congress…
SEC Charges Goldman With Subprime Fraud
Reading Time: 1 minuteToday’s SEC announcement was a well timed and perhaps not coincidental effort to sway some on the fence Republicans to support a tougher financials bill. – Roger Freeman, Barclays Capital (via Bob Pisani) Disclosure: Top Gun has no position in…
Inflation And The Erosion Of Purchasing Power
Reading Time: 4 minutesInflation is poised to become a serious threat to the world’s economic well being – and not enough people are talking about it. While Wall Street whines and whines about how the Fed is behind the curve, they need to…