Sheila Bair on Toxic Asset Plan…

Bloomberg: For the Record

Analysis and discussion with FDIC Chairman Sheila Bair. (For The Record)

March 31, 2009. Tags: , , , , , , , , , , , , , , , , , , , , , . Economy, FDIC, Finance, Housing, TARP, Uncategorized, Wall St. 1 comment.

Video: Paul Krugman on Geithner Toxic Asset Plan…

Bloomberg has the exclusive in-depth with Krugman, including a response to Summers’ take on Paul’s position:

Exclusive Interview with Nobel Prize Winning Economist Paul Krugman (Bloomberg News)

March 25, 2009. Tags: , , , , , , , , , , , , , , , , , . Cabinet, Economy, FDIC, Finance, Obama Administration, Politics, TARP, Taxes, Uncategorized, Wall St. Comments off.

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)

(more…)

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

Breaking: Financial Rescue Plan for Toxic Assets announced in Friday news dump?? uh-oh

Well this can’t be a good sign..

toxic-waste

If our Secretary of the Treasury is so impaired we cannot announce the long awaited plan during market hours when we would have a monster bear market rally, get him the hexx out of there! Paging Jamie Dimon and Sheila Bair STAT!

WSJ Breaking:

The federal government will announce as soon as Monday a three-pronged plan to rid the financial system of toxic assets, betting that investors will be attracted to the combination of discount prices and government assistance. But the framework, designed to expand existing programs and create new mechanisms, relies heavily on participation from private-sector investors. …

…the program is smaller than originally envisioned, raising questions about whether it will be adequate to the task.

The administration’s plan, which has been eagerly awaited by jittery investors, includes creating an entity, backed by the Federal Deposit Insurance Corp., to purchase and hold loans.

In addition, the Treasury Department intends to expand a Federal Reserve facility to include older — so-called “legacy” — assets. Currently, it’s only set up to buy newly issued securities backing all manner of consumer loans. But some of the most toxic assets are securities created in 2005 and 2006.

Finally, the government is moving ahead with plans, sketched out by Treasury Secretary Timothy Geithner last month, to establish public-private investment funds to purchase mortgage-backed and other securities. These funds would be run by private investment managers but be financed with a combination of private money and capital from the government, which would share in any profit or loss…

March 20, 2009. Tags: , , , , , , , , , . Economy, FDIC, Finance, Obama Administration, TARP, Wall St. Comments off.

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