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online.wsj.com - 10/1/2008

We Need to Recapitalize the Banks

— online.wsj.com — When the speculative fever finally broke in America's housing industry and house prices began falling in search... of equilibrium levels, banks everywhere suffered defaults and subsequent losses on a range of assets. In short order, the housing ... (more) We Need to Recapitalize the Banks

Comments vote downundo vote up Greg Mankiw's Blog found this 10/1/2008found this

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calculatedrisk.blogspot.com - 10/6/2008

Report: UK Government Considering Plan to Recapitalize Banks

— calculatedrisk.blogspot.com — From the Telegraph: Financial crisis: Government could take shares in high street banks Alistair Darling, the Chancellor,... could give the banks billions of pounds in return for shares in an emergency bailout plan to be enacted if the financial crisis ... (more) Report: UK Government Considering Plan to Recapitalize Banks

Comments vote downundo vote up self-evident found this 10/6/2008found this

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Down Fast, Too Fast
Moon of Alabama — ... over hundreds of billion dollar will not be free of cost, but might well end up as a very expensive endeavor. As serious economists point out, the bill does nothing to get at the root of the problems. In January, at the latest, another big bailout will be needed. ...

Whose Bail-out Is It?
OptionPundit — ... Let’s move on to another bear, Nouriel Roubini, here is what he has to say (I don’t know how much you would agree with his remarks but he is surely one of the most read economists on Wall Street), his anger is loud and clear- ...

Monday morning links
The Mess That Greenspan Made — TOP STORIES Citigroup to buy Wachovia banking operations - AP Sweeping Bailout Bill Unveiled - Washington Post Sold to US taxpayers for $700B: banks' bad assets - AP Nouriel Roubini on the $700 billion bailout - RGE Monito Behind Insurer’s Crisis, Blind Eye to a Web of Risk - NY Times European central banks cut sales of gold - Financial Times MARKETS/INVESTING Oil, Metals, Crops Fall on Concern U.S. Bailout Plan May Fail - Bloomberg Dollar Intervention Risk ...

A living nightmare...
EconoPundit — ... UPDATE III: Yes, I know, it's supposed to be first time as tragedy, second time as farce, but here you can consider UPDATE II the latter and this the former.

Economist Nouriel Roubini Savages Bailout
24/7 Wall St. — ... Nouriel Roubini, economist and dark knight of the current crisis, today savaged the Paulson bailout in an article posted at his website. Among his points: "purchasing toxic/illiquid assets of the financial system is not the most effective and efficient way to recapitalize the banking system." And "the claim by the Fed and Treasury that spending $700 billion of public money is the best way to recapitalize banks has absolutely no factual basis or justification." "This way of recapitalizing financial institutions is a total rip-off that will mostly benefit – at a huge expense ...

International Forecaster October 2008 (#1) - Gold, Silver, Economy + More
GoldSeek.com — ... notes the respected economist Nouriel Roubini. Also noted by Mr. Roubini is the fact that credit and other financial markets have been deteriorating despite the prospects of approval for the PP, which shows you in spades that the plan won't work and will do little more than line the pockets of the Illuminists at the expense of the taxpayers who will get vaporized in the end. Rather than lay out all of his arguments in detail here, we provide you with the following web sites: rgemonitor1 ...