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Originally posted by Rockpuck
reply to post by GreenBicMan
The objective of the Global Meltdown is of course to discus finances, stocks, global economies and the melt down situation..
Originally posted by irishchic
You called it!
Nada on the markets although he sees "green shoots..."
He is "confident" and they provided background and bio.
My guess is that he replaced the Big O this week in an attenpt to restore the confidence of the public/investors that all is jolly.
First Fed in 20 to grant an interview.They are pulling out all the stops.
I am dying to see how the markets react in the am with the AIG bonus fiasco and his smiling face on network.
[edit on 15-3-2009 by irishchic]
Originally posted by irishchic
They only have the "news" such as the AIG bailouts and Big Ben on network to base a decision on.
I believe they are the majority.Most people simply find financials confusing and frustrating and choose to follow popular opinion and lead.
AIG Discloses Counterparties to CDS, GIA and Securities Lending Transactions
NEW YORK, Mar 15, 2009 (BUSINESS WIRE) -- American International Group, Inc.
(AIG) recognizes the importance of upholding a high degree of transparency with
respect to the use of public funds. As a result, after close consultation with
the Federal Reserve, AIG is disclosing information identifying certain credit
default swap counterparties, municipal counterparties and securities lending
counterparties. Before disclosing this information, AIG consulted with the
Federal Reserve about the potential public benefit of counterparty disclosure and
the potential that such disclosure would cause competitive harm to AIG or its
Treasury Premium Triples for Newest Bonds as Pimco Sees Off-the-Run Values
March 16 (Bloomberg) -- Even in the world’s safest debt market, investors are paying triple the average premium for the easiest-to-sell securities as the 19-month credit-market freeze shows few signs of ending.
Buyers requiring only the newest, most-traded 10-year Treasuries are giving up about 0.4 percentage point of yield compared with older debt of similar maturity, according to Barclays Capital Inc., one of 16 primary dealers required to bid at government debt sales. Before the subprime mortgage crisis began in August 2007, the gap was about 0.13 percentage point.
Treasuries already lost 2.85 percent this year, according to Merrill Lynch & Co. index data, as the government accelerated bond sales to finance a federal budget deficit that President Barack Obama’s administration forecasts may expand to $1.75 trillion. Sacrificing returns for so-called benchmark bonds shows how skittish investors remain as financial markets deteriorate in the worst crisis since the Great Depression.
“It’s a pretty telling sign that things are not back to normal,” said Wan-Chong Kung, who helps manage $76 billion in fixed income at FAF Advisors in Minneapolis, the asset- management arm of U.S. Bancorp.
"There are only 24 hours in a day and despite some people's belief that I'm Borg, I do need to sleep. Trying to spread all this out would make it impossible for me to keep track of it all - so I don't."
Not only is Genentech one of the leading biotech companies in the world, it is considered the founder of the industry.
Swiss drug-maker Roche Holding AG has reached a deal to purchase the remaining 44 percent of American-based Genentech Inc. that it does not currently own.
This is just the latest episode in the Great American Sell-Off. Since 1978 America has sold 17,000 of its best wealth-producing companies to foreign competitors. Over the last 10 years alone foreigners have spent $1.2 trillion to acquire more than 8,000 key U.S. companies. U.S. industries such as mining, cement, publishing, engine and power transmission equipment, rubber and plastics, sound recording and motion pictures are now largely foreign owned. Foreign ownership has even become more prevalent in industries like pharmaceuticals, chemicals, industrial machinery, transportation equipment, electronics, metal industries, and coal and petroleum industries.
More information about the public-private investment plan will be made available in the next week, a Treasury official told reporters yesterday, speaking on condition of anonymity. The Treasury will roll out enough information for investors to gauge their interest in the new program, along with an operational timeframe, the official said.
Last week, the Fed delayed by two days until March 19 the deadline for submissions of proposed packages of debt that investors can buy with Fed financing. Brokers and investors have had difficulty agreeing over contract terms for the TALF, the people said.