With the sharp plunge of Dow Jones Industrial Average, especially after the rejection of the bailout bill this afternoon, this question baffles us all. But for the past several days/weeks/months, numerous small, medium and large banks and financial institutions are sending out S.O.S. calls for urgent assistance. Some are allowed to die, others are being … Continue reading DJI plunged 777 points… Who benefits?
If I'm against the bailout bill, they say I'm "for depression"; If I'm for the bailout plan, I'm "saddled with stupendous taxes". This wasn't about win-win, this was about who crumbles, before the other tumbles! Today, are we certain about who all will suffer from the fall of the mighty great Wall?
Read here for Steve Lohr's analysis on the bailout in The New York Times.
While frenzied talks of bailouts are ongoing in the US Congress, European governments have moved to shore up their teetering banks, including the troubled Belgian-Dutch Fortis, Germany's Hypo Real Estate Holding AG and Iceland's Glitnir hf; Bradford & Bingley of UK have joined Northern Rock. Wonderful solutions notwithstanding, markets around the world are crashing, left, … Continue reading Bailouts: the new buzz word; the “wonderful solution”!
For just a buck a share! "All deposits are fully protected.... Wachovia did not fail; rather, it is to be acquired by Citigroup Inc. on an open bank basis with assistance from the FDIC." “For Wachovia customers, today’s action will ensure seamless continuity of service from their bank and full protection for all of their … Continue reading Bank buckles… Citi grabs Wachovia!