online.wsj.com - 10/9/2008
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[WASHINGTON - OCTOBER 08: Secretary Henry M. Paulson leaves after answering questions during a press conference at the Treasury Department October 8, 2008 in Washington, DC. During the press conference Paulson commented on the current financial crisis facing international economies. (Photo by ...
biz.yahoo.com - 10/9/2008
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biz.yahoo.com —
WASHINGTON (AP) -- The Bush administration is considering
taking ownership stakes in certain U.S. banks as an
option for dealing with a severe global credit crisis. An administration official, who spoke on condition of anonymity because no decision ...
(more)
White House considers ownership stakes in banks: ...
nytimes.com - 10/10/2008
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nytimes.com —
(Page 2 of 2) One concern about the
Treasury’s bailout plan is that it calls for limits
on executive pay when capital is directly injected into a bank. The law directs Treasury officials to write compensation standards that would discourage executives ...
(more)
U.S. Considers Cash Injections Into Banks
Comments
Blog Reactions
Thursday links: thought and choice
Abnormal Returns —
... The U.S. is thinking about taking ownership stakes in banks. (NYTimes.com, WSJ.com, Market Movers, CNNMoney.com, Bespoke)
How best to inject capital into the banking system. (Mankiw Blog)
The credit markets remain under great stress. (Calculated Risk, MarketBeat)
Europe is less well-suited to confront the credit crisis. ( ...
Wall Street Breakfast: Must-Know News
SeekingAlpha.com: Home Page —
... at least slow, the damage: guaranteeing billions of dollars in bank debt and temporarily insuring all U.S. bank deposits. The moves, which would mark the government's most extensive intervention to date, are in discussion stages only. Full coverage for bank deposits would closely resemble plans recently unveiled by several European countries, including Germany and Ireland, and would likely extend to both corporate and retail accounts. Also, the Treasury is considering a plan to inject capital directly into banks, possibly by taking equity stakes, and wants to develop a ...
October 9, 2008 (Thursday): Meltdown in Iceland; Dow Drops 679 Points
SmartMoney.com —
... White House today reveals a possible plan to buy equity stakes in troubled U.S. banks through cash injections, but says such investments would not turn into government takeovers of the banks. The worsening stock market swoon this week hastened the Treasury’s search for solutions to ease the credit crunch and free up capital so that banks can begin lending again. Other countries, including Iceland and England, have announced similar plans.
(For more on this news, click here, here and here.)
The Hits Keep Coming
The DJIA takes a 679 ...
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