Posts Tagged ‘bailout’
|Europe fixes Irish bailout, future rescue rules
Europe fixes Irish bailout, future rescue rules
BRUSSELS (AFP) – Europe on Sunday agreed a bailout for Ireland and new rules for future rescues which, under stringent IMF terms, would hit government bond investors.
Read more on AFP via Yahoo! Canada News
Detroit auto bailout? Yes, but fire the CEOs first
The truth is that the chief executives of the Big Three automakers could have hitchhiked to Washington to beg for alms and they still would have been raked over the coals. But the fact that they came in their corporate jets was a bit much. What, they couldn’t have piled into a tricked-out Malibu and taken turns at the wheel? Richard Wagoner of General Motors, Robert Nardelli of Chrysler and Alan Mulally of Ford should begin the inevitable cost-cutting by firing their public relations consultants. They left Capitol Hill empty-handed, but they’re bound to get some kind of federal help, however grudging. In the end, I don’t think either George W. Bush or Barack Obama wants to be remembered as the president who lost the auto industry. Strings will be attached, solemn promises extracted, oaths signed in blood. At some point — I’m an eternal optimist — the wizards of Detroit might even come up with a car or two that Americans want to buy. If not, well, the Big Three execs can always come back to town — by more modest means of transportation, one hopes. If there’s anything beneficial in this predictable melodrama, it’s that contemplating a taxpayer-funded rescue of the auto industry might make Americans realize the extent to which their government already puts its big, fat thumb on the scales of free enterprise. The idea that the US economy is based on unfettered free markets is, and has long been, a cruel joke. It’s more of a joke now, arguably, than at any time since the …
Ireland unveils 15 bln euro austerity plan to secure bailout
Ireland unveils 15 bln euro austerity plan to secure bailout
Ireland unveiled a 15-billion dollar austerity package Wednesday needed to secure an international bailout, slashing public sector pay, pensions and welfare but refusing to hike corporation tax.
Read more on AFP via Yahoo! News
Bailout 1: Liquidity vs. Solvency
Review of balance sheets. Difference between illiquidity and insolvency.
Peugeot Citroen, Renault each reimburse $1.27) in bailout loans from France
Peugeot Citroen, Renault each reimburse $1.27) in bailout loans from France
PARIS – Carmakers Renault and PSA Peugeot Citroen said Friday they are reimbursing ahead of schedule euro1 billion (US$1.27 billion) each in loans that were part of the French state bailout of the auto industry.
Read more on Brandon Sun
thunderf00t – The Great Bailout
fringelements.tumblr.com http Moral of the story: thunderf00t is a f00l.
Bush’s Banker Bailout
Bush’s plan to “save the home owners” (FHASecure) is just a thinly veiled way to have the government take over 200000 sub-prime loans. This video discusses the plan and it’s effects.
Where did the Bailout Money Go?
John Stossel on ABC 20/20 (12/19/08) “While the media focuses on those billions, the Federal Reserve Bank is quietly committing trillions of your tax dollars. What collateral did the fed get for its trillions in loans? They won’t say. Where has the Fed put trillions of your dollars? The Fed won’t say. The answer to the question, “Where is the Money”? is “We don’t know!” They say, “It’s a secret”"
Congress Debates $700 Billion Bailout Bill
It was close, but no cigar. Now it’s back to the drawing board to see if a little pork here, and a little pork there will do the trick, that’s our congress at work, aren’t you proud of them. I’m one who believes that congress interfered in the free market by encouraging loans to people that were not qualified. Some greedy bank people took advantage of the situation and lent money to anyone that they possibly could, knowing that the loans would be bought by government backed entities such as Fannie Mae and Freddie Mac. The free market will not be able to get us out of this mess, because it has been distorted by government interference. Therefore, sense government interference brought us to this point of crisis; they are the only ones who can get us out of it. If the free market had been allowed to work the way that it was meant to, we would not be in this mess. I wish the government would just get out of our way, and let us be free, the way it was meant to be. US Congress debates massive Wall Street bailout WASHINGTON (AFP) — US lawmakers on Monday debated a 700-billion-dollar bailout plan for struggling Wall Street banks as US President George W. Bush appealed to Congress to quickly approve the deal to free up frozen credit markets. “I fully understand that this will be a difficult vote,” Bush said at the White House before the House of Representatives began debate on the proposal amid stiff opposition from some members of his Republican party. But he said the rescue …
America’s fortunes tied to backing EU bailout
America’s fortunes tied to backing EU bailout
The European Union’s decision to rescue Greece and to create a massive financial safety net for its other vulnerable debtors is a momentous event — though success is hardly guaranteed. Contrary to popular belief, the main purpose was not to save Greece but to prevent another financial panic that might plunge the world economy back into recession.
Read more on Denver Post