February 2009
February 18, 2009 –
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RELATED TICKERS: C
, JPM
, WFC
Investors have been disappointed by the Obama administration's lack of specifics regarding its "bad bank" plan to remove soured assets from bank balance sheets. This week, Federal Reserve ex-Chairman Alan Greenspan added his voice to the debate, when he recommended that the government consider wholesale bank nationalization, Greespan calls it "the least bad solution." ... [more] [more]
February 13, 2009 –
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RELATED TICKERS: GE
, BAC
, BRK-B
Two months ago, Dow Chemical CEO Andrew Liveris adamantly vowed that he would not preside over the first dividend cut in the company's 97-year history, declaring: "We will not break that streak. Not Dow. Not on my watch." Perhaps he had his fingers crossed when he said it: ... [more]
February 12, 2009 –
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RELATED TICKERS: BAC
, C
, GS
If the rules of the game aren’t stable, private capital won’t sit down to the table.
This week, to much anticipation (and with few specifics), Treasury Secretary Geithner announced his new plan to redress the banking sector through a “bad/ aggregator bank” that would remove soured credit assets from bank balance sheets. ... [
more]
February 10, 2009 –
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RELATED TICKERS: GE
, CSCO
, MO
If you're a high-grade credit, the bond markets are open for business. On Monday, Cisco Systems (Nasdaq: CSCO) completed a $4 billion bond offering. It's hardly an act of desperation -- ... [more]
February 09, 2009 –
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RELATED TICKERS: PFE
, GM
, CAT
The head of the International Monetary Fund (IMF) recently told reporters that the world’s advanced economies -- the U.S., Western Europe, and Japan -- are “already in depression,” saying: “The worst cannot be ruled out.”
Is he right? Has the ultimate disaster scenario occurred? I think not. ... [
more]
February 09, 2009 –
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RELATED TICKERS: BRK-B
, GE
, GS
And his sterling reputation doesn't come cheap. [more]
February 06, 2009 –
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RELATED TICKERS: GE
, JNJ
, XOM
General Electric (NYSE: GE) CEO Jeff Immelt now says that he's "prepared to run the company as a double-A". That looks like he's climbing down from his comments last month that the company remains committed to maintaining its triple-A rating. Of course, it's not entirely in his hands; ... [more] [more]
February 05, 2009 –
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RELATED TICKERS: GM
, CAT
, COP
Last week, Marc Mogull, a former director in the European property group at Goldman Sachs, dropped a bombshell: He had raised $2.6 billion to invest in European property. So far, so good -- but so what? [more]
February 04, 2009 –
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RELATED TICKERS: BRK-A
, BRK-B
, JPM
Bankers should have seen it coming. Last week, President Obama referred to 2008 Wall Street bonus payouts as “shameful.” Today, he and Treasury Secretary Timothy Geithner announced a raft of new measures pertaining to the financial institutions, including a cap on banking executives’ annual compensation at $500,000. [more]
February 03, 2009 –
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RELATED TICKERS: JDSU
, F
, AMD
The bigger they are, the harder they fall. Well, the credit bubble that burst in 2007 was of gargantuan proportions, and we’re still falling. Standard & Poor's is now predicting that nearly 200 U.S. high-yield issuers are at risk of defaulting on their debt this year. The amounts involved are significant: almost $350 billion in debt. [more]
February 02, 2009 –
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RELATED TICKERS: BAC
, C
, JPM
Creating a "bad"/aggregator bank organized by the government to hoover up the bad assets from bank balance sheets sounds like it could be an excellent step toward restoring confidence in the financial system and freeing up credit. Unfortunately, where the rubber meets the road, ... [more] [more]
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