Why the bailout is important for main street

  I have received many questions and commits in regards to the bailout.  I know that 700 billion is an incredible amount of money but with that said let’s look at this.
  The real problem here is liquidity.  That is to say that there is no liquid cash available to work with.  Yes it is hard [...]

Presidential candidates unveil plans to aid in bailout

Both advocate raising limits on FDIC insurance; McCain seeks Treasury help

  Well it is about time. Sens. Barack Obama and John McCain both called for a raising of federally insured limits on bank-deposit accounts in an effort to reassure voters that their funds are safe.
The respective Democratic and Republican presidential candidates called for increasing the [...]

Bailout 101

  Well our Leaders are more than disappointing.  Our current Congress has got to be the most inept of all time.  The current financial mess is unbelievable.  Our two Candidates are both a bit unusual.  And this is all Bush’s fault.  What is going on at the top?  I am going to run down a [...]

Citi to acquire Wachovia’s banking operations

Wachovia Corp. became the latest financial-services giant to succumb to the global credit crunch when regulators announced Monday the company’s banking operations were being bought by Citigroup Inc.
Citigroup will take on the bulk Wachovia assets and liabilities, according to a statement that was issued by the Federal Deposit Insurance Corp. before the markets opened.
Ahead [...]

Rescue talks advance — Bush, Democrats optimistic

  President Bush and Congressional Democrats optimistically pressed ahead in a bid to agree on a rescue plan for the nation’s battered financial markets, as House Republicans returned to the negotiating table and lawmakers said they’ll put off a scheduled recess to complete work on the $700 billion package.
  “We are going to get [...]

The $700,000,000,000 Hot Potato

Congress is clearly does not understand how to handle the hot potato that the Bush Administration has handed them.  
 
  Currently this bailout is more than some of our Congressmen can understand.  This latest blow up is unbelievable.  The Republican plans to FDIC insure mortgage backed securities will only burden the taxpayer’s more.  I would [...]

Washington Mutual gets taken over by the Fed’s

Washington Mutual Inc was closed by the U.S. government in by far the largest failure of a U.S. bank, and its banking assets were sold to JPMorgan Chase & Co for $1.9 billion.
Thursday’s seizure and sale is the latest historic step in U.S. government attempts to clean up a banking industry littered with toxic mortgage [...]

Chase is looking at Washington Mutual

  PJ Morgan Chase is rumored to be taken over over by Chase.  Washington Mutual has been in bad shape for several months now and I can only imagine their fear of Sen Schumer opening his mouth in regards to Washington Mutual.  Friday or Monday should bring the end to Washington Mutual. 
 
Stay Tuned….

Buffett invest $5 Billion in Goldman Sachs

  The big news this morning is word that billionaire investor Warren Buffett’s Berkshire Hathaway is investing $5 Billion into Goldman Sachs.  The infusion has been well received by Wall Street so far today. The markets are interpreting this as a vote of confidence that the investment community is more willing to make investments in [...]

The Banking Bailout

  Needless to say, the current financial system is in a real mess.  The bottom line here is that banks & the public both where living beyond their means.  Yes I understand that is an easy thing to say.  So where do we go from here?
                
Step One 
 
  First we need to fully understand [...]