Video Update: Summers on Plan and Krugman….Market Mover Monday: Son of TARP: Treasury Toxic Asset Plan…

Video Update: 3:12pm EST: Bloomberg spoke to Summers about the plan and Krugman’s objections to it..

Live! From the White House – Exclusive Interview with National Economic Council Director Larry Summers (Bloomberg News)


March 23, 2009. Tags: , , , , , , , , , . Cabinet, Economy, FDIC, Film, Finance, Obama Administration, Politics, Popular Culture, TARP, Taxes, Wall St. 2 comments.

TARP 2.0: Is CITI bailout the Geithner/Obama template?

Bill Gross thinks so.

CNBC Street Signs video now up here

Parsing Obama’s picks for the economic team and discussing the future of Citigroup, with Bill Gross, PIMCO Founder & CIO; Al Dellibovi, Federal Home Loan Bank of NY president & CEO; and CNBC’s Erin Burnett.

He tells Erin Burnett he thinks Geithner has hit upon the formula to stabilize asset values:

“up until this point the TARP money has not been used wisely …in terms of not having restrictions on its use …going forward I have new confidence today that we have a new model…this CITI model..and the money market SPIV model that originated today, have the same 10-1 levered type of concept..if remaining 300 billion in TARP are used in this model you can lever up and use this money to the tune of …3 trillion dollars”


November 24, 2008. Tags: , , , , , , , . Cabinet, CITI, Economy, Finance, Foreclosures, Housing, Obama Administration, Politics, TARP, Wall St. 4 comments.

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