Word: federales
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Are you furious? If not, you should be. The giant financial institutions that make up Wall Street have been bailed out, thanks to trillions of dollars of our money, and are on track to hand out record-breaking multibillion-dollar bonuses while millions of regular folks are hurting. Even outside...
In a more macro way, Goldman and Morgan Stanley in particular were facing the equivalent of a bank run in September 2008, as fear-stricken hedge funds for which they were prime brokers pulled out their assets. The firms would have been toast if the government hadn't allowed them...
So, you see, the real bailout wasn't TARP. It was lending and guarantee programs from the Fed and the Federal Deposit Insurance Corp. The Fed had a mere three borrowing programs before the crisis started in the summer of 2007, when two Bear Stearns hedge funds failed. At the...
How to Fix It So what's to be done? In general, the Federal Government has been too passive about fixing the real problems, not too activist. That said, here are a few rules of the road for Wall Street and Main Street: (See which businesses are bucking the recession...
“I’m looking at federal funds, non-federal funds, and looking to the Farber’s donors as well,” he said.