Archive for April 13th, 2009

North Korea Complicates Things

This is what the Obama administration didn’t need. The North Koreans have announced they are withdrawing from the “six party” talks concerning their nuclear weapons programs and will reinstate them. From MarketWatch: North Korea said Tuesday it will break off six-party talks on its nuclear program, which it plans to restart following condemnation by the [...]

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Federal Government Considering Equity Stake In GM

Not content with the hole it now occupies as a result of denying the obvious solution to the GM conundrum, the government plans to grab a bigger shovel and dig harder.  Bloomberg is reporting tonight that the Obama administration is considering swapping its existing debt for equity in a new, supposedly slimmer and profitable GM [...]

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MetLife Passes On TARP Money

Here’s some refreshing news. MetLife says that even though it’s eligible it won’t participate in TARP. The company did confirm that since it is a bank holding company with more than $100 billion of assets it is one of the 19 that have to take the stress test. Let’s hope that Geithner doesn’t pull a [...]

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What’s Wrong With Goldman Repaying Their TARP Money?

Pigs are flying today. People are upset about someone paying back a government loan. Goldman’s plan to raise private equity and repay their TARP borrowings has a bunch of undies in a bunch. Felix Salmon at Reuters and John Carney at Clusterstock both seem aggrieved at the turn of events. Their argument seems to center [...]

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New York Still Stuck In Tax And Spend Time Warp

Remember the part about how the fiscal stimulus bill was going to provide relief to strapped states so they wouldn’t be forced to cut services and above all else raise taxes because, after all, raising taxes is something only Hoover reincarnations do in a recession. Well, meet a bunch of state Hoovers. The WSJ on [...]

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