Archive for May 6th, 2009

More To Worry About Than Stress Tests

There is more afoot than just decrepit economies. Things are going badly in Pakistan and Afghanistan is slowly sucking in the Obama administration as it has so many other foolish leaders. The news is not on the front pages now but it may force its way there quickly. Pakistan, particularly is becoming increasingly dicey. The [...]

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Geithner Preferred: A New Security To Make Banks Whole

Apparently the Treasury plans to introduce a new type of security to help banks that failed, oops, I mean didn’t get high enough grades on the stress test top off their capital. If they can’t get the capital they need from the private sector they can exchange their existing TARP preferred stock for mandatory convertible [...]

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House Committee To Grill Lewis, Bernanke and Paulson

This will probably be good theater and solve nothing. The House Committee on Oversight and Government Reform plans to have Ken Lewis and top federal officials testify under oath about the events surrounding the acquisition of Merrill. From the WSJ: The decision to hold a hearing before members of the House Committee on Oversight and [...]

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Will EPA Greenhouse Gas Regulations Prompt Massive Litigation?

Cap-and-trade legislation continues to wind its way through the House and as you know faces an uncertain fate in the Senate. Failing passage some time later this year the EPA is standing by to do via regulatory fiat what isn’t done by legislation. That might be a nightmare. The WSJ has a brief story about [...]

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An Interview With Elizabeth Warren

Tech Ticker has a really good interview with Elizabeth Warren, the head of the TARP oversight committee. I can’t embed it so you’ll have to follow the link to take a peek at it. Despite all of the negatives written about her in the past few weeks she comes across as a charming, intelligent woman [...]

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A Bankruptcy Blog To Get You Through The Chrysler Ordeal

If you really want to get down and dirty with the Chrysler bankruptcy and all of the attendant arguments surrounding it then here’s the blog for you. The Bankruptcy Litigation Blog will tell you everything you ever wanted to know about Section 363 sales, the absolute priority rule and disguised plans of reorganization to name [...]

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Stress Test Double Talk

The leaks continue. Reportedly, Wells needs $15 billion, Regions Bank needs an unspecified amount of money and according to CNBC, GMAC needs $11 billion. So far it all seems to be engendering a giant yawn. The news last night that BofA was short about $34 billion onyl caused its stock to go up 12% so [...]

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