Archive for November 14th, 2008

More TARP Beggars

A couple new supplicants turned up today at the TARP window. Hartford Financial Services announced it is buying a thrift holding company, Federal Trust Corp, of Florida for $10 million in order to turn itself into a bank. As such it will then be eligible for a capital injection from the TARP slush fund. If [...]

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Freddie Loses Big Bucks, FDIC Has A New Plan

A couple things on the housing front, neither surprising. As reported by Reuters, Freddie Mac reported a loss of $25.3 billion today. This tidy sum puts Freddie in a negative equity situation thus necessitating a capital infusion from the Treasury. The company’s regulator has already submitted an invoice to Treasury for $13.8 billion to get [...]

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