European policymakers agreed to offer as much as €750 billion in financial help to nations feeling pressure from speculators in an effort to curb the spread of the sovereign-debt crisis. The European Central Bank will buy government and private bonds to counter “severe tensions” in some markets.
Posts Tagged ‘Pid’
EU Crafts $962 Billion Show of Force to Halt Crisis
May 10th, 2010 
Before You Invest 
Posted in Finance Fraud 
Tags: Amp, Apps, Bloomberg, Chief Economist, Contagion, Crafts, Debt Crisis, E Mail, Financial Assistance, Overwhelming Force, Pid, Policymakers, Private Bonds, Risk, Shock And Awe, Sid, Sovereign Debt, Speculators, Tensions 
Comments OffSenate approves plan for breaking up failing financial firms
May 7th, 2010 Before You Invest Senators approved an amendment to financial-overhaul legislation that would give the government authority to break up financial firms that are on the verge of collapse. The plot would prevent taxpayer funds from being used to keep companies deemed “too huge to fail” from failing. The Senate is poised to start discussing and voting on other central issues of the legislation, including the creation of a consumer-protection agency.http://www.bloomberg.com/apps/news?pid=20601103&sid=aW77CmyP.HRk
Posted in Finance Fraud Tags: Amp, Break, Collapse, Consumer Protection Agency, Government Authority, Hrk, Legislation, Pid, Senate, Senators, Sid, Taxpayer Funds, Verge Comments OffSEC voiced concern about CDOs as early as 2006, records show
May 6th, 2010 Before You Invest he Securities and Exchange Commission started questioning Wall Street’s practice of packaging mortgages into bonds as early as 2006, according to recently released documents. SEC officials wrote that collateralized debt obligations linked to mortgages exposed financial institutions to possible write-downs. “This risk is hard to measure and hence to manage,” according to a memo dated Feb.
Posted in Finance Fraud Tags: Amp, Bear Stearns, Bonds, Collapse, Collateralized Debt Obligations, Early Show, Financial Crisis, Financial Institutions, Inquiry Commission, Mortgages, Pid, Risk, Sec Officials, Securities And Exchange, Securities And Exchange Commission, Sid, Wall Street Comments OffEx-CEO Cayne blames market for Bear Stearns’ demise
May 5th, 2010 Before You Invest James Cayne, former head of Bear Stearns, said the company’s collapse was because of market forces and a loss of confidence in the bank, according to his prepared testimony to be given before the Financial Crisis Inquiry Commission. “The market’s loss of confidence, even though it was unjustified and irrational, became a self-fulfilling prophecy,” Cayne said in the testimony, according to a source.
Posted in Finance Fraud Tags: Alan Schwartz, Amp, Bear Stearns, Ceo, Collapse, Confidence, Demise, Financial Crisis, Former President, Inquiry Commission, James Cayne, Pid, Self Fulfilling Prophecy, Sid, Spector, Testimony Comments OffNYSE calls for crackdown on dark pools and their brokers
April 23rd, 2010 Before You Invest NYSE Euronext said it will propose to the Securities and Exchange Commission restrictions on dark pools aimed at getting investors better prices on their trades. Duncan Niederauer, CEO of NYSE Euronext, said the SEC should establish rules to govern how a trade is handled by a dark pool when it doesn’t quote a price in advance.
Posted in Finance Fraud Tags: Amp, Apps, Ceo, Crackdown, Dark Pool, Dark Pools, Duncan Niederauer, Investors, Nyse Euronext, Pid, Securities And Exchange, Securities And Exchange Commission, Sid, Trades, Transparency Comments OffRating agencies tailored reports to please clients, Senate inquiry finds
April 23rd, 2010 Before You Invest During the year leading up to the financial crisis, credit rating agencies compromised the integrity of their reports to win favor with clients and collect huge fees, according to documents released by the Senate Permanent Subcommittee on Investigations. Rating agencies waited too long to downgrade deteriorating investments, relied on obsolete mathematical models and gave in to pressure from their clients, the panel found.more at http://www.bloomberg.com/apps/news?pid=20601208&sid=aWME.5mf2cCw
Transaction tax could cause volume to plunge, insider says
January 30th, 2010 Before You Invest Thomas Peterffy, CEO at Interactive Brokers Group, said a tax on financial transactions could cause volume on the stock market to drop 90%. “The mother of all creators of havoc on Wall Street is this looming transaction tax,” Peterffy said. “Trading volumes would plunge by about 90%, markets would become illiquid and tens of thousands of people would lose their jobs.” more at http://www.bloomberg.com/apps/news?pid=20601109&sid=aUFMGaqiHYaA
Posted in Finance Fraud Tags: Amp, Apps, Ceo, Creators, Financial Transactions, Havoc, Insider, Interactive Brokers Group, Jobs, Pid, Plunge, Sid, Stock Market, Tens Of Thousands, Thomas Peterffy, Transaction Tax, Wall Street Comments OffObama defends plan to charge banks to recoup TARP funds
January 16th, 2010 Before You Invest In his weekly radio and Internet address, President Barack Obama defended his proposal to subject as many as 50 financial institutions to a levy to recoup the cost of the Troubled Asset Relief Program. Obama also vowed to enact legislation that would rein in practices and strategies that caused the financial crisis.
Posted in Finance Fraud Tags: Amp, Apps, Banks, Barack Obama, Chris Van Hollen, Congress, Democratic Leaders, Financial Crisis, Financial Institutions, Internet Address, Legislation, Levy, Pid, Proposal, Radio, Sid, Taxpayers No Comments »Wells Fargo sells $12.25 billion in stock to repay TARP
December 16th, 2009 Before You Invest Wells Fargo priced nearly 490 million shares at $25 each to raise billions of dollars to repay the government for funds it received through the Troubled Asset Relief Program. The government still has Wells Fargo warrants, which are estimated to be worth roughly $723 million at auction, said Linus Wilson, an assistant finance professor at the University of Louisiana at Lafayette.more at http://www.bloomberg.com/apps/news?pid=20601208&sid=ap0b0cFFTVIY
Citigroup comes to terms with officials on TARP repayment
December 14th, 2009 Before You Invest Citigroup reached an agreement with regulators and government officials regarding a plot to repay the Treasury for the $20 billion it received through the Troubled Asset Relief program. “We are pleased to be able to repay the U.S. government’s trust preferred securities and to terminate the loss-sharing agreement,” Citi CEO Vikram Pandit said in a statement.
