Thursday
Mar312011
Entries by DailyBail (6219)
Mar 31, 2011 at 1:49 PMThursday
Mar312011
Wal-Mart CEO: "Serious Inflation In The Months Ahead"
"We're seeing cost increases starting to come through at a pretty rapid rate."
Thursday
Mar312011
RAW VIDEO: Belgian F-16 Destroying Libyan Bomber
Belgian F-16 destroying Libyan bomber at its base - uploaded today.
Thursday
Mar312011
Congressional Video: "What Can The American People Expect From TARP Moving Forward?"
Video - House Oversight - March 30, 2011
The Geithner spin as delivered by Tim Massad.
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Criticism of TARP ‘Moral Hazard’ Unfair, Massad Says
Criticism that “moral hazard” is the main legacy of U.S. taxpayer-funded bailouts is unfair, a Treasury Department official said.
“We recognize that moral hazard is a real and significant concern” in the Troubled Asset Relief Program, Timothy Massad, acting assistant secretary for financial stability, said in a hearing before a House Oversight Committee panel today. “But to suggest that it is TARP’s main legacy is to ignore the facts, and to confuse the response to a crisis with the need to address the causes of the crisis.”
Massad was responding to criticism from Neil Barofsky, special inspector general for TARP. Barofsky told the House panel’s TARP subcommittee today that the program’s “most significant legacy may be the exacerbation of the problems posed by ‘too big to fail,’ particularly given the manner in which Treasury executed the bailout.”
TARP largely spared “executives, shareholders, creditors and counter parties, reinforcing that not only would the government bail out the largest institutions, but would do so in a manner that would do little harm to the responsible stakeholders,” Barofsky said.
Thursday
Mar312011
Issa: TARP's Failures Protect Too Big To Fail Banks
From yesterday's TARP Congressional hearing with Neil Barofsky.
Wednesday
Mar302011
California Treasurer Spanks Legislature Over Junk Spending
There is no hope for California government.
Wednesday
Mar302011
Wednesday
Mar302011
Video: Sheila Bair On Bailouts, Risk Retention Rule
Video - Sheila Bair - Mar. 29, 2011
Chairman Sheila Bair discusses the FDIC's meeting today on proposed rules requiring lenders to keep a stake in loans they securitize. Bair, speaking with Margaret Brennan on Bloomberg Television's "InBusiness," also discusses a measure that would require "systemically important" firms to draft plans for how their operations can be resolved after a collapse.
Links inside.
Wednesday
Mar302011
Case-Shiller: Home Prices Fall By Most In A Year, Outlook Grim; Bloomberg Interview With Dr. Robert Shiller
Video - Dr. Robert Shiller - Mar. 29, 2011
Robert Shiller, an economics professor at Yale University and co-creator of the S&P/Case-Shiller home-price index, talks about the outlook for the U.S. housing market. Residential real estate prices dropped in January by the most in more than a year, raising the risk that U.S. home sales will keep slowing.
Wednesday
Mar302011
CoreLogic Says Housing 'Shadow Inventory' Is 1.8 Million Units; Morgan Stanley Says 8 Million
If you extrapolate, Morgan Stanley's calculations means we have a shadow inventory of 38 months, on top of the current 8.7 months supply. This would imply almost 4 years of backlog. Gary Shilling says that home prices will fall another 20% before hitting bottom.
Wednesday
Mar302011
