Archive for March, 2009

Will Mark-To-Market Changes Torpedo PPIP?

Bloomberg has a longish article on the coming revisions to mark-to-market accounting rules. It’s worth a read if you have an interest in the subject. One particular piece of the article caught my attention. It points out one of the unintended consequences of the changes. While helping lenders report higher earnings, FASB’s changes may hurt Treasury [...]

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It Wasn’t All Bad News Today

A couple good pieces of economic news were buried under all the auto company talk today. I had to go overseas to find it but there it was. In the U.K. there is some sign that the decline in housing prices is declining and the number of loan applications for purchases was at the highest [...]

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Fiat And Chrysler Reach An Agreement Of Sorts

Well, that didn’t take long. Chrysler says it has an agreement with Fiat on a framework for a global alliance. From Reuters: Chrysler LLC has reached an agreement on a framework of a global alliance with Italian automaker Fiat SpA (FIA.MI) that has the support of the U.S. Treasury, Chrysler’s CEO Bob Nardelli said on [...]

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GM And Chrysler: The Administration Doesn’t Like What They Have To Sell

This is a bit of a bombshell. The WSJ is out with a report that the Obama administration may well let GM and Chrysler go Chapter ll. In fact, they say that Chrysler isn’t viable absent a merger of some sort with Fiat. Here is the meat of the report from the Journal. The administration’s [...]

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Fannie, Freddie And The Constitution

This post isn’t about what you think it might be. I need, however, to set the stage. There is news out tonight that Fannie and Freddie’s regulator, the Federal Housing Finance Finance Agency (FHFA) is considering letting the two provide warehouse lending to mortgage banks. This type of financing has dried up during the credit [...]

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More Money Laundering By AIG?

The blogosphere is buzzing about a post on Zero Hedge. The author posits that the reason the big banks were bragging about their January and February profits was that AIG was cutting sweetheart deals with them on their mutual CDS deals. Lots of rumors and innuendos here, so it’s probably best to wait until some [...]

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GM CEO Stepping Down

Not a good day to be running a car company. GM is expected to announce its CEO’s resignation and Peugeot fired its CEO today. Reports are that Rick Wagoner will resign from the helm of GM tomorrow after President Obama addresses the issue of additional aid for the company. Though it’s a little unclear from [...]

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