Archive - Jun 3, 2009

Very interesting hearing today by the House Committee On Financial Services, observing the present and future perspectives before Fannie and Freddie.

The hearing, consisting of two panels, will be webcast at 2 pm Eastern here.

Very interesting hearing today by the House Committee On Financial Services, observing the present and future perspectives before Fannie and Freddie.

The hearing, consisting of two panels, will be webcast at 2 pm Eastern here.

Provided for the benefit of all audible learners, and those who really love listening to Harvey Miller's musky, Shaft-esque barritone.

The next hearing on GM's DIP will be on June 25th at 9:00 am.

File download may take a minute or two.

In an overlooked piece of data, indicating that the 3 month rally is likely done, yesterday EU-member Latvia saw its overnight interbank rate surge to a record 16.4% while the overnight deposit rate double to 24% after the country was unable to sell any debt securities at a local debt auction, according to its main stock exchange. The Latvian Treasury had offered to sell 20 million lats ($20 million) of July maturities, 10 million of September, December and June 2010 paper. None of this paper found any buyers.

In an overlooked piece of data, indicating that the 3 month rally is likely done, yesterday EU-member Latvia saw its overnight interbank rate surge to a record 16.4% while the overnight deposit rate double to 24% after the country was unable to sell any debt securities at a local debt auction, according to its main stock exchange. The Latvian Treasury had offered to sell 20 million lats ($20 million) of July maturities, 10 million of September, December and June 2010 paper. None of this paper found any buyers.

In an overlooked piece of data, indicating that the 3 month rally is likely done, yesterday EU-member Latvia saw its overnight interbank rate surge to a record 16.4% while the overnight deposit rate double to 24% after the country was unable to sell any debt securities at a local debt auction, according to its main stock exchange. The Latvian Treasury had offered to sell 20 million lats ($20 million) of July maturities, 10 million of September, December and June 2010 paper. None of this paper found any buyers.

Apologies for the delay

GM has been kind enough to provide just how it sees the progression of its bankruptcy case. Woe to anyone: judge, creditor, conscientious objector, or otherwise, who stands in the way of the company achieving this. Paging Tom Lauria.

GM has been kind enough to provide just how it sees the progression of its bankruptcy case. Woe to anyone: judge, creditor, conscientious objector, or otherwise, who stands in the way of the company achieving this. Paging Tom Lauria.

GM has been kind enough to provide just how it sees the progression of its bankruptcy case. Woe to anyone: judge, creditor, conscientious objector, or otherwise, who stands in the way of the company achieving this. Paging Tom Lauria.

As the state of California has already fallen into the abyss of financial collapse, and its primary state pension managers are getting annihilated (less so after the squeeze of the past 3 months, but definitely in their PE investments), a backlash has formed against those receiving generous lifetime pensions by CalPERS and CalSTRS.

David needs the groupies, which is why we forgive him for appearing with the clownshoes.

Everyone's favorite Indications Of Interest (IOIA function in BBerg) is about to come under some serious regulatory fire.

The Cleveland Plain Dealer Reporter out with a "shocker" disclosing just how much of a political bargaining chip the Big-3 use their dealers as. According to the story, GM sent ultimatums to all of its 6,000 U.S. dealers on Tuesday with the following stipulation "follow our new rules or face almost immediate franchise cancellations in court."

• ADP May private job losses: 532,000, April revision higher by over 50K to 545K! (Reuters)
• Germany's Angela Merkel has had it with the Fed insanity (FT and WSJ)
• Mutiny: Labour MP's seeking signatures for Gordon Brown ouster, to