Archive - Mar 23, 2009 - Story

Joe Weisenthal at Clusterstock reports that the administration has invited bloggers to participate in a "constructive plenary discussion session" over the benefits and limitations of TALF2 at 10am today. Not surprisingly, Zero Hedge was not invited, but we will participate anyway and provide our readers with as much info from this "public medium" as we can.

Enough has been said here about the Roe v Wade aspect of this plan.

And at the same time extends the deadline of its inevitable fate yet again, this time to Friday, March 27. Inevitable because in the original weekly extension from Friday 13th to Friday 20th, only 1% of incremental 3.625% bondholders have agreed to the exchange (41% at March 13, versus 42% at March 20), and 58% still are willing to see the company file for bankruptcy.

Tim Geithner gave an interview on Sunday to the WSJ to unveil the next leg of the stimulus plan. What makes this one interesting is that this plan is being released under the guise of a public/private partnership with the government providing some cash and private investors providing more cash with government guarantees.

• Treasury releases details on Public Private Investment Program (USTreasury)
• As Europe refuses to follow in US' footsteps and boost stimulus (WSJ)
• The financial crisis in 27 visualizations (Flowing Data via Naked
  

The wobbly casino dominoes are in full tumble mode. The latest gravitational casualty is Herbst Gaming, which tonight filed a long anticipated pre-packaged bankruptcy, the terms of which involve the termination of both the company's common stock as well as its 7% and 8.125% Senior Notes.