Word: stockely
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...just pooped on AIG. Then I puked on Bernie Madoff, attacked Coldplay with a chainsaw and peed on the stock market. And I did it all with help from Netdisaster.com...
Citigroup shares are going up every day now, gaining 23% yesterday. So far, the stock has gone from a low of $0.97 to $3.20 in just a few weeks...
...balance sheet of debacles caused by this economic crisis - the $700 billion Troubled Asset Relief Program (TARP), the stock-market swoon, the credit crunch and the ongoing global recession - $165 million is small change. But the revelations of the AIG bonuses, like nothing else, seemed to finally tip the mounting public furor over corporate malpractice into a full-scale rebellion. Yet Geithner, embarrassed for discovering the bonuses so late, plans to dock AIG that much out of the next $30 billion in bailout funding when it is delivered - which amounts to a mere 0.1% of the total AIG has received...
...Last September, with global stock markets collapsing and credit markets frozen, Geithner, then head of the New York Fed, and Bernanke believed AIG was too close to collapse to do anything other than stop the bleeding. Failure by AIG to pay might have threatened its counterparties - for instance, Citigroup and, in turn, Citi's counterparties. A bond or a derivative is, after all, a promise to pay someone, and if there is no confidence in its fulfillment, the financial system ceases to function. It is not a fear that has gone away simply because AIG has been stabilized...
...Coke on Sept. 3 announced a deal to buy Beijing-based Huiyuan Juice Group, a privately owned company started by a Chinese entrepreneur 17 years ago. Huiyuan, whose stock is traded on the Hong Kong exchange, is the largest producer of pure orange juice in the country, with over 40% of the market. Although Huiyuan's founders and major shareholders endorsed the sale, the government blocked it on antitrust grounds, arguing that the acquisition would have hurt small orange-juice producers in China and led to higher prices for consumers...