Tag Archives: Bank Bailout

U.S. Seizes Two Wholesale Credit Unions

Posted on March 22, 2009 by billmanzi

The U.S. Government seized the country’s two largest wholesale credit unions on Friday after their balance sheets did not pass government muster. From the Wall Street Journal: In the latest move by federal authorities to prop up the nation’s banking … Continue reading →

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Citi Teeters

Posted on February 23, 2009 by billmanzi

Citi Group is looking for the U.S. Government to restructure its capital infusion of $45 billion dollars into the Bank. Citi has opened talks to convert that capital, which granted the government preferred shares, into common stock. The move would … Continue reading →

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The Obama Housing Plan

Posted on February 19, 2009 by billmanzi

President Barack Obama has presented a plan to try to stem the foreclosure problem afflicting our housing market. Obama’s plan looks to bring $75 billion to the table in this effort, with a potential $200 billion in additional financial support … Continue reading →

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Thievery in the Mortgage Business

Posted on February 15, 2009 by billmanzi

A “Sixty Minutes” piece on World Bank, which is very telling as to how we have gotten into this mess. Funny thing is that I do not hear anyone in this piece talking about the Community Reinvestment Act. What I … Continue reading →

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Geithner Unveils a Plan Short on Details

Posted on February 10, 2009 by billmanzi

Treasury Secretary Tim Geithner unveiled the Obama program to shore up the country’s financial system today, but key details of the plan are yet to come. The lack of detail sent stocks lower, with the Dow Jones down three hundred … Continue reading →

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The Banking and Finance Sector Crater

Posted on January 21, 2009 by billmanzi

On his first full day in office President Obama is facing a global banking crisis that has been getting worse instead of better, with an initial application of help from governments around the world having little impact. The figures are … Continue reading →

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