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Dodge the Pitfalls and Uncover the Profits From the $700 Billion Banking System Bailout
With the exception of a few curmudgeonly old Republicans, there has been general rejoicing at U.S. Treasury Secretary Henry M. Paulson’s $700 billion banking system bailout. Indeed, to hear some commentators you would think it was cost free – they explain joyfully that assets will only be acquired at a discount, so of course there is a good chance the taxpayer will not be out of pocket on the deal.
Well, if you believe that I have a bridge to sell you. The deal has large costs to taxpayers, and considerable negative implications for our economic future. Investors didn’t buy…
23Sep2008 | Money Morning | Comments Off | ContinuedThe Next Victim in the Banking Fiasco
A New Short Idea in the Banking Sector
“You know, you saw subprime go first, and then, on a slight lag, you saw home equity, and now in the lag, you’re seeing prime go. And it’s exactly the same loss factors. But remember, the components of where we are in the states…[are] very different. And we started doing more jumbos in ‘07, so a lot of that is — part of that is ‘07 vintage, which I think I told you at the time we were going to do and grow our balance sheet and gain share. And we were wrong.…
28Aug2008 | The Penny Sleuth | Comments Off | Continued
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