Will GMAC get a lifeline from bank regulators? It is beginning to look more plausible as debtholders agree to a security swap. The deal is intended to improve GMAC's capitalization in order that it can become a bank holding company. Holding company status would give GMAC access to TARP money. Bloomberg.
It seems quite irrational for Treasury yields to fall while the government issues record levels of new debt. Call me crazy but I think we are seeing an asset price bubble in the middle of a severe recession. The difference between this bubble and others we have experienced: Most are fueled by greed, the Treasury bubble is fueled by fear. Bloomberg.
An interesting interactive tool from CNBC. 10 states with highest unemployment.
The Bush administration gives public assurance that short-term aid will be forthcoming. AP.
1234
5 months ago
No comments:
Post a Comment