online.wsj.com - 12/9/2008
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Reuters House Speaker Nancy Pelosi, with House Financial Services Committee Chairman Barney Frank, discusses auto-bailout negotiations.
nakedcapitalism.com - 12/2/2008
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nakedcapitalism.com —
A year ago, major endowments, like Yale, Harvard,
and Princeton were seen as the ne plus ultra
of sophisticated private investors, regularly posting 20%+ annual returns. Now they are dumping big chunks of their private equity holdings at distressed ...
(more)
Harvard, Yale, Other Big Endowments Selling Private ...
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Reports: Bailout Deal Close for Automakers
Calculated Risk —
... automobile industry that would be directed by one or more appointees of President Bush and would impose expansive federal oversight of the auto companies. ... The president’s designee would disburse the short-term emergency loans to General Motors and Chrysler ... and would directly supervise the drastic reorganization plans that the auto manufacturers have agreed to carry out in exchange for government aid. The WSJ suggests we might own some of the automakers: U.S. Could Take Stakes in Big 3 Under the terms of the draft legislation, which ...
Detroit Bailout; Ford Opts Out?
The Big Picture —
... Bloomberg, December 9, 2008
http://www.bloomberg.com/apps/news?pid=20601087&sid=aj8WycWPOfEw&
Summary of the Auto Rescue Bill
Corey Boles
Auto Industry Tracker, December 8, 2008, 4:22 pm
http://blogs.wsj.com/autoshow/2008/12/08/summary-of-the-auto-rescue-bill/
Deal to Rescue American Automakers Is Moving Ahead
DAVID M. HERSZENHORN
NYT, December 8, 2008
http://www.nytimes.com/2008/12/09/business/09auto.html
U.S. Could Take Stakes in Big 3
Greg Hitt
WSJ, DECEMBER 9, 2008, 3:53 A.M. ...
What would U.S. do with stock in The Big Three?
BloggingStocks —
... According to The Wall Street Journal, "Under terms of the draft legislation, which continued to evolve Monday evening, the government would receive warrants for stock equivalent to at least 20% of the loans any company receives." Who needs warrants? Why not just charge a slightly higher interest rate on the money and get the yield out that way? ...
The Devilish Details of Detroit’s Deal
TRUTH ON THE MARKET —
There are some pretty scary devils in the details of this Detroit bailout legislation. This WSJ article provides some specifics. Under the terms of the draft legislation, “the government would receive warrants for stock equivalent to at least 20% of the loans any company receives.” Let’s put that in perspective. General Motors is seeking around $10 billion in short-term loans, so the legislation would give the government the option to buy a $2 billion stake in GM. GM’s ...
Related: Barney Frank
Barney Frank On Bailouts, Welfare —
The Big Picture
December 14, 2008
See also:
Frank Tells 60 Minutes An Auto Industry Bailout Would Help People, Not Companies
http://www.cbsnews.com/stories/2008/12/11/60minutes/main4663945.shtml
Chairman Of The Board
Rep. Barney Frank (D.-Mass.), whose position as House Financial Services ...
Barney Frank On Bailouts, Welfare —
Breaking News: CBS News
Lesley Stahl talks to Rep. Barney Frank, whose position as House Financial Services Committee Chairman puts him right in the middle of the huge and controversial government bailouts, first for the financial industry and now for automakers.
A new KP bailout rule of thumb —
Knowledge Problem
Lynne Kiesling
The KP Spouse and I have evolved a new rule over the course of the succession of fall bailout fiascos: whenever Barney Frank argues for something, the economically sensible and correct public policy is to do precisely the opposite of what he advocates.
Paul Krugman: Eat your words! —
Rolfe Winkler
Defending Fannie and Freddie, Paul Krugman posted this a month ago:
…Fannie/Freddie did some bad things, and did, it turns out, get to some extent into subprime. But thanks to the accounting scandals, they were actually withdrawing from the market during the height of the housing ...
The Big Three Creep Closer To An Auto Bailout —
Daily Markets
After making the long road trip from Detroit to D.C., it now looks as though it was worth the ride this time for the CEOs of the Big Three.
According to Barney Frank, Congress and the Bush administration are negotiating the final details of a $15 billion measure to rescue domestic automakers ...
What About a “Manhattan Project” for Detroit? —
Earth2Tech
“If we are lucky, we will come out with a bill next week that nobody likes.”
With those words , Rep. Barney Frank (D-Mass.), chair of the House Financial Services Committee, wrapped up two days of testimony from auto executives intended to be something like a truth commission for ...
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