Archive - Mar 2009 - Story

Goldman has been really pounding the REIT space. Which, of course, skeptics will say simply means their prop desk (or what is left of it) is buying REIT assets hand over fist. Or maybe they just really hate the space.

Brokers are using the latest governmental market intervention rally to generate interest in a $261 million loan BWIC due today at noon. As TALF 3.0 is likely to include purchasing any and all Term Loans, this may be a good deal.

Top ten loans in the BWIC list below:

Brokers are using the latest governmental market intervention rally to generate interest in a $261 million loan BWIC due today at noon. As TALF 3.0 is likely to include purchasing any and all Term Loans, this may be a good deal.

Top ten loans in the BWIC list below:

One of few counselors to Geithner who have not resigned Gene Sperling and counsel Matthew K. Baker are joined by Muffie Benson-Perella.

Gains which "are hoped to be made" will be shared with the private investor...Losses which are hoped to not be made, will be footed by the taxpayer.

Life would be different if credit markets were "functioning"

"A problem of great scale and complexity" Indeed. "Will be a long road as we tweak these solutions and try other solutions": TALF 3.0 thru 17.3 coming soon

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.

Isam Laroui highlights a great speech by Bernanke back in 2002; as Isam points out, one could easily forecast Big Ben's actions since mid 2007 from reading this speech as Big Ben has been kind enough to follow the very playbook he laid out back then. Setting fed funds rate to zero? Check. Cheap money to the banks? Check. Lowering long rates?

GM's bondholders have had enough of being ignored.

...have been broken. However the end result is welcome as I present to you the first Zero Hedge recruit, Cornelius. Cornelius has an exciting and very pertinent background, packs a mean financial punch, and will focus on a space that I have not been able to devote much time or attention to: global macro with a focus on FX and commodities.

Please welcome him to the club.

The Currency Week In Review
By Cornelius

...have been broken. However the end result is welcome as I present to you the first Zero Hedge recruit, Cornelius. Cornelius has an exciting and very pertinent background, packs a mean financial punch, and will focus on a space that I have not been able to devote much time or attention to: global macro with a focus on FX and commodities.

Please welcome him to the club.

The Currency Week In Review
By Cornelius