Recent content by U Boat Commander

Unfortunately, each is in short supply in Washington (as is integrity).

GS and MS became BHCs 12 days before TARP was enacted in anticipation of TARP. They qualified, in part, to receive TARP funding, which they in fact received. Take a look at the list of entities that have received TARP funds and you will see that every one of them is a BHC...

Then why did GS and MS have to qualify as Bank Holding Companies before they could receive TARP money? Were they not "financial institutions"? Apparently not, at least not any more than GMAC.

Really? Well at least I can spell. Douche.

People are starting to pick up on this . . . TARP: Now A Slush Fund for Detroit? Posted December 12th, 2008 at 10.25am in Entrepreneurship. With the Senate’s rejection of a bailout for Detroit’s ailing automakers, there now comes word that President Bush is actively considering using...

Yes, any security from a "Financial Institution".

Senator Ensign is on CNBC right now talking about the use of TARP for an auto bailout. He's saying that he doesn't think they can use TARP for an auto bail out. I told you, this story is not over.

What do you think?

If they can do whatever they want, then why did Goldman, Morgan and AMEX have to qualify as Bank Holding Companies before they could receive TARP funds? How will GM qualify as a Bank Holding Company? Also, if they can do anything, they why is Treasury saying that they are "looking at"...

Section 101(a) of the bill that authorized TARP provides as follows: (a) AUTHORITY.—The Secretary is authorized to establish the Troubled Asset Relief Program (or ‘‘TARP’’) to purchase, and to make and fund commitments to purchase, troubled assets from any financial institution, on...

If they sell 40 million iPhones next year, as predicted, that's something like $13 a share above the current ipod/mac business. At a 30 PE, that's like $480/share.

Any idea why the futures are up? I can't find any news to justify it. Perhaps coming off the rally in FTSE? It can't be this Castro thing, can it?

The PPT is not a myth (and it's not the FOMC either, although the Fed chair is part of the PPT). Greenspan talks about the PPT in his book. What is not know is exactly how the PPT works.

The Working Group on Financial Markets, aka "Plunge Protection Team" or PPT. YM is not up 60+ since she said it.