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Arguably the actions of the Federal Reserve over the past year represent the largest state confiscation of wealth in the history of man, dispossessing currency investors, equity investors, bond investors and taxpayers of literally trillions of dollar
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The Bush administration proposed a historic $500 billion bailout of financial firms that would let the government rather than the cold judgment of the marketplace decide the winners and losers from the crisis that has shaken the US economy for the pa
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Treasury Secretary Henry Paulson and congressional leaders will work on legislation this weekend that would enable the federal government to buy hundreds of billions of dollars' worth of troubled loans.
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"Our system of free enterprise rests on the conviction that the federal government should interfere in the marketplace only when necessary." (America: From Freedom to Fascism... it will be argued that today was the day)
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Bush, Paulson outline powerful steps targeting troubled mortgage-related assets weighing down the finance industry. Plan could cost hundreds of billions.
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Look at the photo to your left to see who murdered the U.S. economy!
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US government measures to rid financial institutions of bad assets could add up to one trillion dollars, Republican Senator Richard Shelby said Friday.
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European stocks halted 3 days of losses Thursday, rising slightly [closing 100 pts. down] after a concerted effort by central banks to pump billions more US dollars into troubled money markets and limit the global financial crisis. Asian markets fell
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Lew is horrified by the latest Government machinations, in the Markets.
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"As soon as they downgraded it I decided to come and was here at 7am," said Lewanne Elwes, an artist manager. "I can't go on waking up in the middle of the night all worried after watching the news . . . I'm tired of this.
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The Fed is doubling down on a bad hand. It is buying more stock as it falls, instead of selling out. The Fed is lending more and more of its liquid government securities to client banks. In return, it is accepting their questionable and risky collate
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Sept. 17 (Bloomberg) -- The Treasury will sell more debt to enable the Federal Reserve to expand its balance sheet, a sign of the strains created by the biggest extension of central-bank credit to financial companies since the Great Depression.
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LONDON, England (CNN) -- World stock markets were in decline again Tuesday, a day after the collapse of one of the largest investment banks in the U.S. contributed to the worst day on Wall Street in seven years.
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SINGAPORE (CNN) -- Hundreds of customers flocked to the Singapore office of troubled insurer American International Group Inc. (AIG) on Wednesday, many hoping to pull their investments and policies from the company.
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The New York Federal Reserve intervened aggressively to shore up the U.S. financial system this week, providing at least $87 billion to help underpin trades with units of bankrupt Lehman Brothers Holdings Inc, court documents show.
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The Federal Reserve added $70 billion in reserves to the banking system, the most since the September 2001 terrorist attacks, to reverse a surge in borrowing costs sparked by the collapse of Lehman Brothers Holdings Inc.
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Wilbur Ross, founder of private equity firm WL Ross & Co LLC, expects as many as a thousand U.S. bank closures in the coming months, CNBC said on its website on Monday.
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The intent here isn't to add to people's anxieties, but Roubini is one of the few market watchers to correctly predict the severity of this ongoing credit crisis. video
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When FDIC head says her agency might have to bolster the FDIC's insurance fund with Treasury borrowings to pay for the new spate of bank failures, a lot of us assumed there's an actual FDIC fund in need of bolstering. We were wrong.
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China Investment Co, an investment arm of the Chinese government, would join the consortium to gain control of Lehman's extensive portfolio of commercial real estate, it was reported.
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The Federal Reserve Bank of New York held an emergency meeting Friday night with top Washington policymakers and major financial institutions to discuss the future of Lehman Brothers attended by Treasury Secretary Henry Paulson,
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The Bush administration is considering whether to fold Fannie Mae and Freddie Mac's $5.2 trillion in debt into the federal budget, the White House budget office and the U.S. Treasury Department said.
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The end result of the global economic slowdown may be the U.S. announcing national bankruptcy as the government cannot afford the bailouts that it promised and the market will not bail out the government, Martin Hennecke, senior manager...
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The precarious position of commercial banking also puts the FDIC at risk. As I wrote two weeks ago, with $45 billion in its insurance fund, and the prospect that WaMu—with $140 billion of insured deposits—could fail, it seems inevitable that FDIC wil
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“You can at least have a free market in housing and a lot of other things in China. And you can see that this is welfare for the rich. This is socialism for the rich. It’s bailing out the financiers, the banks, the Wall Streeters."
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It basically will allocate a large portion of our debt to totally unproductive parts of the economy. Money that can be used to further research and development, infrastructure, and our economy will now be used to fix horrific bubble mortgages....
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The government has formulated a plan to put troubled mortgage giants Fannie Mae and Freddie Mac under federal control, dismiss their top executives and prop them up financially, federal officials told the two companies yesterday...
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Troubled by the Bear Stearns debacle, former Federal Reserve Chair is advocating a new way of dealing with government bailouts of companies whose sudden collapse could wreak havoc on the country's economic and financial stability.
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``If we are to prevent a continuing asset and debt liquidation of near historic proportions, we will require policies that open up the balance sheet of the U.S. Treasury.''
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China has resorted to stealth intervention in the currency markets to amass US dollars, using indirect means to hold down the yuan and ease the pain for its struggling exporters as the global slowdown engulfs the economy.
