nytimes.com - 2/23/2009
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Why not just go ahead and nationalize? Remember, the longer we live with zombie banks, the harder it will be to end the economic crisis. >
baselinescenario.com - 2/24/2009
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baselinescenario.com —
For a complete list of Beginners articles, see
Financial Crisis for Beginners . You may have seen...
in the news that the government is thinking about exchanging its “preferred stock” in Citigroup for “common stock.” Here’s one of many articles . Which, if you are ...
(more)
Tangible Common Equity for Beginners
nakedcapitalism.com - 2/24/2009
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nakedcapitalism.com —
We have been skeptical that the pending Treasury
stress tests on banks, designed to ascertain their state...
of health, were inadequately staffed and therefore could not do the job properly. Our big concerns were that they had too few bodies to e test ...
(more)
Now It's Official: Stress Test Results Pre-Determined
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Paul Krugman: Banking on the Brink
Economist's View —
... Banking on
the Brink, by Paul Krugman, Commentary, NY Times: Comrade Greenspan wants us
to seize the economy’s commanding heights. O.K., not exactly. What Alan
Greenspan,... a staunch defender of free markets ... actually said was, “It may
be necessary to temporarily nationalize some banks in order to facilitate a
swift and orderly restructuring.” I agree. ...
More on the Possible Nationalization of Some Banks
Calculated Risk —
... for example, or home prices dropping 20 percent further, Treasury and Federal Reserve officials said. Fed officials emphasized that these hypothetical events were “highly unlikely” to occur. The Treasury is expected to release more details this week on the stress tests, but unfortunately it still appears they do not plan on releasing the results of the tests - a serious mistake that will probably lead to more rumors and market turmoil. And from Paul Krugman: Banking on the Brink The real question is why the Obama administration keeps ...
Attack of the Zombies !
The Big Picture —
While the word nationalization seems to be terrifying many observers, another technical financial term is gaining acceptability: Zombie Banks.
NYT columnist Paul Krugman used the term in a recent column; Fed Chair Ben Bernanke said in Congressional testimony that there was “no such thing as a US zombie bank.” The term even has its own wikipedia entry.
Why are even discussing what sounds like a b-grade horror flick? What is a Zombie bank?
A Zombie Bank is a financial ...
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CITI ASSETS FLOP - New York Post
nypost.com 2/17/2009 — Last updated: 2:56 am February 17, 2009 Posted: 1:48 am February 17, 2009 Citigroup's quest to raise cash by selling the assets it doesn't want is falling flat, as would-be suitors have more interest in the parts of the business that Citi would like ...
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