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"....freie Märkte"

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US- Senat nimmt sich aufpoliertes Rettungspaket vor

Neuer Anlauf für den Rettungsplan der Finanzbranche: Der US-Senat will schon heute über das 700-Milliarden-Dollar-Paket abstimmen, das nach der Überarbeitung nun Bankkunden mehr Sicherheit bieten soll. Die Präsidentschaftskandidaten Obama und McCain werben einträchtig für Unterstützung. mehr... [ Video | Forum ]

• Banken-Rettungsplan im US-Kongress: Die ganze Welt hofft auf die zweite Abstimmung

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Senate to Vote Wednesday on Bailout Plan

By CARL HULSE and ROBERT PEAR
Published: September 30, 2008
WASHINGTON — Senate leaders scheduled a Wednesday vote on a $700 billion financial bailout package after accepting tax breaks and a higher limit for insured bank deposits in a bid to win House approval and send legislation to President Bush by the end of the week.

full story: http://www.nytimes.com/2008/10/01/b...&hp&oref=slogin

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SEC Office of the Chief Accountant and FASB Staff Clarifications on Fair Value Accounting

FOR IMMEDIATE RELEASE
2008-234

Washington, D.C., Sept. 30, 2008 — The current environment has made questions surrounding the determination of fair value particularly challenging for preparers, auditors, and users of financial information. The SEC's Office of the Chief Accountant and the staff of the FASB have been engaged in extensive consultations with participants in the capital markets, including investors, preparers, and auditors, on the application of fair value measurements in the current market environment....

full article: http://www.sec.gov/news/press/2008/2008-234.htm

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AP
Senate to vote on rescue plan with added tax cut
Wednesday October 1, 2:22 am ET
By Charles Babington and Andrew Taylor, Associated Press Writers
Senate to vote on $700 billion financial rescue plan on Wednesday with added tax cut plan

WASHINGTON (AP) -- In a bold bid to revive President Bush's multibillion-dollar financial rescue plan, Senate leaders scheduled a vote for Wednesday night on a version of the bill that adds substantial tax cuts meant to appeal to Republicans when it reaches the House.The goal is to net at least 12 more House votes than the rescue proposal received Monday, when lawmakers rocked the political and financial worlds by rejecting it.

The gambit is certain to anger some conservative House Democrats, who object to tax cuts that are not offset with spending cuts. But Senate strategists assume it will gain more House votes than it will lose.

If so, Congress would be poised to pass landmark legislation giving the government billions of dollars to buy deeply discounted mortgage-backed securities that are choking off credit and roiling the markets.

The strategy is risky because some House members might see it as a high-handed move by senators. Senate passage of a bailout measure has seemed assured all along. The showdown is in the House, but now the Senate is trying to force the House's hand.

Sen. Charles Schumer, D-N.Y., called it "a brilliant move" that will "help pick up votes on both sides of the aisle.".....

......The Senate bill would raise federal deposit insurance limits to $250,000 from $100,000, as called for presidential nominees Barack Obama and John McCain only hours earlier......

.......The Senate version also may include a measure to require health plans for 51 or more employees to give equal treatment to mental health or addiction if they cover such illnesses. The House and Senate have passed similar mental health parity measures, but none has gone to Bush for his signature.......( das wird aber teuer haben doch bald alle etwas an der Birne)

full story: http://biz.yahoo.com/ap/081001/financial_meltdown.html

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lunar

.....hmmmmm - da kommen wohl einige ins
sollte man sich anhören/-sehen Larry Kudlow ist zwar nicht mein cup of tee - trotzdem interessant diese Interessenkonflikte - was sagt China wenn sie nicht am Bailout-Topf partizipieren können was sagen die Amis wenn die Ausländer (die zwar die enormen Schulden tragen) auch was abbekommen ooops das ist eine Knacknuss die sich Herr Paulson angelacht hat an seiner Machtposition wird auch etwas gesägt

Bailout Bill: Pros & Cons
Discussing the pros and cons of the Wall Street bailout bill, with Rep. Paul Ryan <---> Brad Sherman

http://www.cnbc.com/id/15840232?video=873682522

***********************************

...und hier eine Antwort ---> http://market-ticker.denninger.net/...he-Bailout.html

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...vom usagold-forum - hab aber die links nocht nicht durchgelesen

Melda Laure (usagold.com 30September2008; 22:48)
Recapitalize Main Street: repatriate your funds.

Dont patronize mordor.

Dont feed the tapeworm economy. It’s about to die anyway, so let it.



Melda Laure (usagold.com 30September2008; 22:34)
The bailout is toast, NOW WHAT? Well now what. To all who gave congress an earful, thanks! The truth is, come november we only get one vote each. But every day we can vote with our money. Now, as this is a gold forum I recommend you get some! And since you dont want to have to tap this stash at the first sign of trouble, I recommend the “black blade” plan: cash, savings, and a well stocked pantry- now that’s just plain hobbit sense isnt’ it?

But what can one do about the bailout? Well about those savings, we are told that if nothing is done, the credit crunch will kill all our businesses, and our “main street” retailers will not be able to stock their shelves for christmas. Hogwash!

I suggest one open an account with a local bank. Chances are it is run intelligently, and loans mostly to local business (the very places you shop at) and local persons whome they know. Chances are they dont have a bazillion dollars in CDS and other derivative exposure. In short, if the big boys are incompetent and thieving weasels then DONT LOAN THEM YOUR FUNDS! We all know who these geniuses are: JPM GS, (and the cadavers they just absorbed: WaMu, Wachovia, BS, etc) BofA, Citibarf, and all the lesser spawn of mordor.

And of course, dont borrow from these people either. They’re obviously incompetent, so why would you want to pay them, any more than one would offer to loan them the use of your funds? There is going to be trouble, the big boys are toast. But there’s no reason to be in the thick of it.

Vote your pocketbook: dish out some “capital punishment”.

Yellume! Nin mellyn, na haruvallen malta.

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UBS-Aktienpaket im Wert von 1,5 Milliarden verschollen

Von Martin Vetterli. Aktualisiert am 01.10.2008


Die Pleitebank Lehman sorgt für eine weitere böse Überraschung: Wertschriften verschiedener Hedge-Funds sind weg. Auch der UBS-Grossaktionär Olivant ist davon betroffen.


Luqman Arnolds Beteiligungsgesellschaft steckt in einer eigenartigen Situation. Eigentlich verfügt sie über 2,78 Prozent der UBS-Aktien. Doch an der ausserordentlichen Generalversammlung von morgen Donnerstag wird Olivant ihr Stimmrecht nicht ausüben können. Warum nicht? «Weil wir nicht wissen, wo sich diese Aktien befinden und wer sie hat», lautet Arnolds verblüffend einfache Antwort. «Wir wissen nicht einmal, wie viele UBS-Aktien wir im Moment besitzen, obwohl wir nichts verkauft haben.» ....

......Olivant ist die erste Investmentgesellschaft, die offen über ihr Prime-Broker-Problem spricht. Sie ist aber nicht das erste Finanzunternehmen, das davon tangiert ist. Der Sturz von Lehman Brothers hatte vorletzte Woche bei verschiedenen britischen Hedge-Funds Panik ausgelöst. Unternehmen wie GLG Partners, Amber Capital und Ramius realisierten sehr schnell, dass sie nicht mehr an ihre Anlagen im Wert von 40 Milliarden Dollar herankamen. Auch ihre Wertschriften waren beim europäischen Lehman-Arm aufbewahrt. Auch diese Hedge-Funds sind in eine Falle getappt, von der niemand wusste, dass sie überhaupt existierte. Die Lage für sie ist angesichts der anhaltend unsicheren Finanzmärkte doppelt gefährlich. Sie können nicht reagieren und sind teilweise handlungsunfähig geworden......

ganzer Artikel: http://www.tagesanzeiger.ch/wirtsch.../story/16124715

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House Of Pain

Posted by nin_man under bailout , fail
[4] Comments


The Senate has decided to carry the bailout torch with a vote Wednesday night even though the House shot it down. The hope is to either use high school peer pressure on the House, because if the cool kids want something then the dorky kids should want it as well. It is a sign of the kind of losers that run Washington when the Senate plays the role of the cool kids in any situation, but I digress.

A tax cut was tacked on for business tax breaks (among other tax-related measures)…taken directly from a bill that the House also rejected. So let’s step back and look at what is happening, here. The Senate put together a bill, sent it to the House, and the House said no. The House put together a bill, and then said no to itself. Now the Senate is taking both of these failed bills, gluing them together, and is going to send them back to the House where of course they will pass it, because we are goverened by chimpanzees who vote by flinging feces onto a target placed in front of them.

I hear Costa Rica is nice this time of year.



Reenacting Depression-Era Scenes On Wall Street

Posted by alyx under bailout



Market is rallying today on the belief that by the end of the week we will have passed a substantially similar bailout bill anyway, where we overpay for bad loans and it’s okay to buy a bank stock again. This kid reenacted a Great Depression scene on Wall Street. I wonder if he really sold any apples? They look pretty good there…

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Cat

Overnight-LIBOR



Overnight Libor interest rate index hits all-time high

By Tim Darragh | Of The Morning Call
October 1, 2008

The word ''Libor'' means nothing to most people, but it's at the very heart of the credit crisis and will have a direct impact on consumers' lives if credit markets remain ice cold.

Libor -- the London Interbank Offered Rate -- is a set of indexes of interest rates that more than a dozen international banks charge each other. Various Libor indexes are used to set interest rates on home mortgages, credit cards and consumer loans.

And here's the bad news: Overnight Libor rates hit an all-time high Tuesday. Rates shot up 431 basis points, the most ever, to a 6.88 percent as borrowing between banks ground to a halt.

''It's another piece of bad news,'' Mark Fleming, chief economist at First American CoreLogic in California, said. ''Â… Credit is getting more expensive across the board.''

According to First American CoreLogic estimates, nearly all subprime home loans and 41 percent of prime adjustable rate home loans, known by another acronym, ARMs, are tied to Libor. Typically, the interest rate on those loans is the Libor six-month index plus several percentage points.

''This is not a time when you want to see higher rates,'' Robert Levy, who represents Pennsylvania mortgage banker and broker associations, said. ''It's not good for the American public.''

Stephen F. Thode, director of the Murray H. Goodman Center for Real Estate Studies at Lehigh University, said credit markets may have seized up because banks wanted to bolster their balance sheets by having as much cash on hand as possible at the conclusion of the third quarter, which was Tuesday.

He said the six-month Libor rates are not as high as they were a year ago, but they have been rising. Normally, the Libor rate tracks about half a percentage point above the yield on U.S. government debt. But as of Friday, the six-month Libor was 2.3 percentage points above a comparable U.S. Treasury bill.

If Congress passes a Wall Street bailout package, credit markets should become more ''rational,'' he said.

The rise in Libor affects almost all consumers in one way or another, Fleming said. ''It's not just ARMs, it's home equity loans, credit cards, cars, consumer credit in general,'' he said.

It also hurts many students. Sallie Mae, the nation's largest private student lender, pegs its loans to the Libor one-month rate, which is adjusted monthly. A rise in Libor means college loans become more expensive. The rise in the cost of borrowing may mean consumers find it more difficult to obtain credit. It also means consumers will have to change their behavior.

''It costs more to borrow, which means we're probably going to have to consume a little bit less,'' Fleming said.

The Associated Press and Bloomberg News contributed to this story.

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LIBERTÉ, EGALITÉ, LIQUIDITÉ!

lunar

hier noch einige Zahlen und Kommentare dazu: http://ftalphaville.ft.com/blog/200...es-catastrophe/

wem/was soll man noch trauen

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Buffett scheint der Retter der Nation zu werden

Buffett Buys $3B of GE Preferred, Company Selling $12B of Common

Posted Oct 01, 2008 02:39pm EDT by John Carney in Investing, Newsmakers, Banking Related: ge, ^gspc, brk-a

From ClusterStock.com, Oct. 1, 2008:

General Electric Co (GE) just announced plans to raise $15 billion, with a little help from Warren Buffett The company is selling $12 billion of common stock to the public and $3 billion of preferred to Berkshire Hathaway.

The old Oracle of Omaha has cut deal strikingly similar to the deal he cut with Goldman Sachs. Here he is getting perpetual preferred stock with a 10% dividend that is callable after three years at a 10% premium. He’s also snatching up warrants to purchase $3 billion of common stock at $22, which is a two dollar discount from where the stock is trading right now.....

full story: http://finance.yahoo.com/tech-ticke...2412B-of-Common

Comments:
CNBC spend 40minutes pimping GE!!! U know a pump & dump scam

wanna see GE below 20 WORLD tired of the Buffett deals when companies like GE need to pay him to invest. what a joke

DOES ANYONE REMEMBER THE GUY WHO IN 1929 DID THE SAME THING BUFFETT DID?? I don't recall his name but he did the same thing when the market was crashing and he went on the floor to buy a huge amount of stock and everyone was relieved that the market is going to be alright and then you know the rest...deep depression. That's where we are going...don't buy the hype, it's your money.

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Paulson Rescue Proposal Is `Crazy,' Predecessor O'Neill Says
By Brendan Murray

Oct. 1 (Bloomberg) -- Former U.S. Treasury Secretary Paul O'Neill said the $700 billion bank-rescue proposal under negotiation in Washington is ``crazy,'' with potentially ``awful'' consequences for the world's largest economy.

``Doesn't this seem like lunacy to you?'' said O'Neill, who was President George W. Bush's first Treasury chief, from 2001 to 2002, in a telephone interview today. ``The consequences of it are unbelievably bad in terms of public intrusion into the private sector.''

O'Neill's objections mirror those of Republicans in the House of Representatives who rejected the plan in a Sept. 29 vote. The former Treasury chief said he's lobbying for an alternative solution that would offer guarantees for troubled assets, stopping short of purchasing the debt....

full story: http://www.bloomberg.com/apps/news?...XhYs&refer=home


...denn sie wissen nicht was sie tun (sollen)

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Silverbay

Senate Passes Bailout Plan

«The Senate margin was 74 to 25 in favor of the White House
initiative to buy troubled securities in an effort to avoid an
economic catastrophe.»

Das mit dem "Verhindern" steht mit der Massnahme wohl
noch in Zweifel, die Asiaten trauen dem Zauber wenig.

Nun stellt sich die Frage auf welchem rebound Niveau, falls
es ihn gibt, der Weg auf die 9 im Dow motiviert ist.

Viel Glück bei Euren Entscheidungen,
Silverbay



http://www.nytimes.com/2008/10/02/b...bailout.html?hp