New Fed Powers Plan Needs Careful Thought
Let Friday, early news about a plan to broadly expand the power of the Federal Reserve was released. Evidently the plan will be formally announced in a speech by Treasury Secretary Paulson. I’m a bit out of breath. McGehee was the first I saw to make mention...No-fault Credit
Today we got to see some of the substance of Barack Obama’s plan for solving the current economic crisis. Both Reuters and the Wall Street Journal have good write-ups. Obama’s approach includes: More power to the Federal Reserve over non-bank investment...
Everyone Deserves To Own A House, Right?
Well, Hillary appears to be attempting to make EVERYONE happy. More government money to rescue folks who simply bought more house than they could afford. According to a Wall Street Journal story Tuesday, Hillary proposes: Freezing Forclosures for 90 days Freezing...JPMorgan To Sweeten The Honey Pot
This morning brought news of a refinement of the JPMorgan/Bear Stearns deal. Evidently, Bear Stearns stockholders aren’t happy about the $2/share deal, and want something better. Wouldn’t we all. What will be interesting is whether the Fed accepts the deal...Can JPMorgan Bear The Load?
JPMorgan Chase appears close to closing the deal to acquire Bear Stearns. The arrangement, just 2 days after Bear Stearns stock price dropped 46% in a single trading session, would value the teetering financial services company at about $236 million ($2 per share)....Stay in Touch
