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Originally posted by spinkyboo
UM - WHAT?!
The virus poses a potentially grave new threat to the U.S. economy, which was showing tentative early signs of a recovery. A widespread outbreak could batter tourism, food and transportation industries, deepening the recession in the U.S. and possibly worldwide.
- showing tentative early signs of a recovery?!! -
Someone is smokin' something rather potent - and just lyin' all over the place.
news.yahoo.com...
More at Links...
U.S. bank, flu fears chill stabilization hopes
www.reuters.com...
LONDON/SINGAPORE (Reuters) - Fears about a possible global flu crisis and renewed worries over the capital health of some U.S. banks combined on Tuesday to rattle economists' hopes the financial system was stabilizing.
The Wall Street Journal reported regulators told Citigroup Inc (C.N) and Bank of America Corp (BAC.N) they needed to raise billions of dollars more in capital following "stress tests" of banks' ability to withstand the economic crisis.
"The flu story and the story on Citi and Bank of America have spooked the whole market," CMC Markets analyst James Hughes said, talking about foreign exchange trading.
Bair Looks Beyond Tests, Says FDIC Needs Power to Close Holding Companies
www.bloomberg.com...
April 28 (Bloomberg) -- Federal Deposit Insurance Corp. Chairman Sheila Bair, looking beyond stress tests that will determine the health of the top 19 U.S. banks, said her agency should have the authority to close even the biggest lenders.
The “too-big-to-fail concept” should be “tossed into the dustbin,” and the FDIC should have the power to close “systemically important” financial firms, Bair said in a New York speech yesterday. “Given our many years of experience resolving banks and closing them, we’re well-suited to run a new resolution program,” she said.
Analysts are recalibrating their estimates of the results of the federal bank examinations after the government announced the test methodology last week. Lenders were given preliminary results on April 24 and have time to discuss them with regulators before the full readings are released on May 4.
More at Link...
$400 Billion More In Bank Losses On The Way
globaleconomicanalysis.blogspot.com...
Another day, another glowing financial headline. Here is the ridiculous headline of the day: Bank of America posts first-quarter profit, surpasses view.
Prices of U.S. single-family homes fell 18.6 percent in February from a year earlier but the rapid pace of decline slowed, perhaps indicating the housing market may be nudging closer to a bottom, according to Standard & Poor's/Case-Shiller Home Price Indices released on Tuesday.
pharmaceutical stocks were sharply higher Monday in reaction to flu outbreaks — and the gains seemed to ripple through the sector.
More at Link...
Citi talking to U.S. on capital, may alter exchange
www.reuters.com...
NEW YORK (Reuters) - Citigroup Inc is talking to the U.S. government about its capital levels after receiving the early results of its stress test, but if it needs more capital it does not expect the government to provide it, people familiar with the matter said.
Rep Frank sees banks TARP-free in a year
www.reuters.com...
WASHINGTON (Reuters) - The U.S. banking system could be free of government money within a year, the powerful chairman of the U.S. House of Representatives Financial Services Committee said on Tuesday.
Representative Barney Frank, a Democrat from Massachusetts, said it would be "good for public confidence" if large banks repay funds from the government's $700 billion Troubled Asset Relief Program, noting he had a difference of opinion with Treasury Secretary Timothy Geithner.
"We're hoping there won't be any government funds in banks a year from now," Frank told the Reuters Global Financial Regulation Summit.
Originally posted by Hx3_1963
The only thing I see...we'll be bank free, before TARP free...
Originally posted by Hx3_1963
reply to post by RetinoidReceptor
It is quite stupid...
Most intelligent people know what the deal is...
I guess just burying yer head in the sand is the answer anymore...
I like pitchforks and torches myself...
FTSE 100 4,096.40 11:35AM ET Down 70.61 (1.69%)
CAC 40 3,051.02 12:13PM ET Down 51.41 (1.66%)
DAX 4,607.42 11:45AM ET Down 86.65 (1.85%)
Stockholm General 233.53 11:40AM ET Down 8.00 (3.31%)
[edit on 4/28/2009 by Hx3_1963]