Market Mover Monday: FED expanding TALF, no WH FY10 budget forecast yet? GE Capital RE to sell MBS to China…
Market Update: 11:00am EST: DOW down 190.90 to 9130.50; S&P down 23 to 981 and NAS down 48 to 1936 (ouch we were just over 2000 last week)….
CNBC: Federal Reserve is announcing now they will expand TALF to March 2010 from December 2009, commercial securities program through June 2010..
Not a soul reported the WH FY 2010 budget update the WH said they would release Friday at 5:00pm…is it so bad they didn’t release it?If we go to the WH site we will get cookied! Oh Noes! will any journOlist person NOTICE they have not reported the figures to us yet?!
GE Capital RE is about to sell China a bunch of our mortgages with Uncle Sam money isn’t that great? frakkers.
China Investment Corp, the country’s $200 billion sovereign wealth fund, is set to pour up to $2 billion soon into the U.S. mortgage system by hiring mandates under the U.S. Treasury-backed Public-Private Investment Plan (PPIP)..
…Under the PPIP program launched earlier this year the U.S. government plans to seed a number of public-private investment funds that would combine taxpayer money with private capital to buy as much as $40 billion in toxic securities from banks…
...CIC, established by the Communist government in late 2007, is keen to participate in the PPIP as it expects the U.S. property market to start to recover gradually late this year, said the sources.
This is the same PPIP that had an EPIC FAIL when NO BIG BANK would participate, Jamie Dimon of JPMChase was all, we are eager to get the hexx away from the government, in his own words of course, lol…so the toxic assets still sit on big bank books while Jeff Immelt, (worst CEO in the worrrrld!?!) prepares to sell our loans directly to China..this should go over well with evicted homeowners 😦 maroons.
Midnight Oil courtesy of onlythepianoplayer
Moderate in the Middle 