Keegy United States - NewsJunk.com: [Maverecon]: It's the turn of the unsecured creditors now

[Maverecon]: It's the turn of the unsecured creditors now

Why are the unsecured creditors of banks and quasi-banks like AIG deemed too precious to take a hit or a haircut since Lehman Brothers went down? From the point of view of fairness they ought to have their heads on the block. It was they who funded the excessive leverage and risk-taking of banks ...

Bury

NewsJunk.com — March 19

0 Votes vote

[Political Wire]: Dodd Admits to Loophole

Senate Banking Committe Chairman Chris Dodd admitted to CNN that he was responsible for the loophole in the economic stimulus package that allowed firms like AIG receiving bailout funds to pay bonuses. ...

Bury

NewsJunk.com — March 18

4 Votes vote

[Washington Post]: Federal Reserve to Buy $1.2T in Bonds, Mortgage-Backed Securities

The central bank will increase its purchases of mortgage-backed securities by $750 billion, on top of a previously announced $500 billion. It also will double its purchases of debt in Fannie Mae and Freddie Mac to $200 billion. Those steps are intended to lower mortgage rates. The announcement of...

Bury

NewsJunk.com — March 18

0 Votes vote

[MoneyWeek]: Will Britain go bankrupt?

Apparently, British house prices could fall by as much as a further 55%. Oh, and there's a real risk that the country could go bust on top as well. ...

Bury

NewsJunk.com — March 18

0 Votes vote

[Brad Setser]: A bit more to worry about

Foreign demand for long-term Treasuries has disappeared over the last few months. ...

Bury

NewsJunk.com — March 18

2 Votes vote

[NewsHour/PBS]: AIG Chief Asks Execs to Return Part of Disputed Bonus Pay

The head of AIG appeared on Capitol Hill amid a furor over the company's bonus pay and told lawmakers that he's called on workers to return part of the payments. ...

Bury

NewsJunk.com — March 18