Paulson Wants To Ruin Bailout With Private Equity
Henry Paulson’s newest idea for his $700 billion bailout fund is to get private equity firms to invest side-by-side with him in the next series of financial firms that will get money. This will…
Economy
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Newest first · Page 400Merrill Lynch (MER) CEO Slips Blame By Calling Current Environment Similar To Depression
John Thain of Merrill Lynch (MER) spent most of his time at the financial firm saying that the markets would improve as would the fortunes of his company. He was consistently and remarkably wrong.…
Harvard President Says It’s Time To Tighten Belt
Even the nation’s oldest and richest university cannot escape the economic downturn. In a note to to almost everyone affiliated with the institution, President Drew Gilpin Faust said the the value of the university’s…
Goldman Sachs (GS) Goes Whole Hog On Jobless Forecast
From Goldman Sachs (GS) by way of MarketWatch: "The unemployment rate is expected to rise to 8.5% by the end of next year and inch even higher in early 2010, economists for Goldman Sachs…
As Unemployment Hits 6.5%, Those Expecting 7% Now Bracing for 8%
If you were looking for great news on the jobs report this morning, you probably believed the guy telling that "NOT JOKE" in the Borat movie. Unemployment came in at a monstrous 6.5%…
Jobless Figures, Ominous For Tomorrow’s Unemployment
We have just seen the figure for weekly jobless claims, and it is an ugly prelude to tomorrow’s unemployment and non-farm payroll data. The good news is that worker productivity came in better than…
Bank Of England Cuts 1.5% To 3%
A little note from the Bank of England: "The Bank of England’s Monetary Policy Committee today voted to reduce the official Bank Rate paid on commercial bank reserves by 1.5 percentage points to 3%.…
Obama, Broke Now, And More Broke Every Day: Credit Default Swaps On US Debt
There is not a man with a typewriter who can avoid writing about how much debt the US government has and how much more it will have to take on. Paulson’s program will put…
Layoffs Spread Beyond Autos And Retail (NT)(HPQ)(DELL)(WHR)
For awhile, analysts had hoped that the biggest layoffs in the economy would be restricted to already troubled industries including retail, automotive, and airlines. At least companies in those sectors were losing money. But,…
Suddenly, The World Is OK, The Worst Is Behind
Anyone looking at the stock market over the last week would assume that the global recession is over, the liquidity crisis which has ruined the banking system has been addressed, and consumers are suddenly…
Dark Star Nouriel Roubini: China Will Fall Apart
Economist Nouriel Roubini has as dark a vision of the economy as any man with an IQ over 140. His latest prediction is that China will fall apart. Not much of a prediction given…
Will US Unemployment Hit 10%? (SHLD)(NCC)(GM)
The US unemployment rate in September was 6.1%. The consensus estimates are that the numbers will rise, but there are differences over how much. The Bloomberg News survey of economists gives an average prediction…
A Prairie Fire Of Layoffs (MOT)(LM)(AB)(GS)(TWX)(GCI)(YHOO)(GM)(AXP)(ERTS)(WHR)
Many of the layoff announcements which came over the last several days were as unexpected as they were large. If a recession is measured by the rapidity and breadth of job losses across huge…
GDP: The Recession Is Upon Us
The Commerce Department gave the preliminary U.S. third quarter GDP, and it has come in at levels which finally reflect the recession we have been saying we are in since the end of Q1. …
As World Markets Rally, A Fog Of War Envelops Trading
When the stock markets around the world raced down earlier this month, there was some sense to it. The credit and liquidity troubles were real. Corporate earnings became progressively troubled. Layoffs showed clear signs…