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U.S. Automakers, Freddie Mac and Foreign Exporters Next in Line for Bailout Handouts
This week is shaping up to be another active one on the bailout-and-financing front.
First and foremost, Congress returns to work this week to consider a once-unthinkable proposal: Put up billions in taxpayer-backed loans so that Detroit’s “Big Three” can be saved. Expect a fight, however, as the bailout debate finally moves past banks to focus on General Motors Corp. (GM), Ford Motor Co. (F), and Chrysler Corp.
The situation is dire. GM is burning through cash at a pace that could mean bankruptcy, and all three players are struggling with high costs, weak vehicle sales, frozen credit lines and dwindling cash…
17Nov2008 | Money Morning | Comments Off | ContinuedBuried Treasure at the Federal Reserve?
Every market cycle has its genius.
Even a market cycle as wild and volatile as this one has been.
And the latest genius might be just what the U.S. Federal Reserve needs to restore order around here: She might even be able to bring credibility back to the global financial markets.
Elizabeth Duke goes by “Patsy.” And while the nickname may be soft, the person behind the moniker isn’t soft. In fact, we believe that Patsy Duke – a career commercial banker – is the only Federal Reserve insider that understands how the global money markets actually work.
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