http://lolfed.com makin ur economy betters Sun, 07 Sep 2008 19:15:38 +0000 http://backend.userland.com/rss092 en I'm in ur financial system! Takin ur institutions under conservatorship! A take on Bernanke and Paulson's manifest destiny, from Lolo: http://lolfed.com/2008/09/07/all-your-banks-are-belong-to-us/ It's a bird! It's a plane! It's a BAILOUT! Fed and Treasury agree to buy up preferred stock from Fannie Mae and Freddie Mac, buy some more mortgage backed securities, and basically toss money left and right into the crappy MBS market because awww, banks who own this crap are on ... http://lolfed.com/2008/09/07/fannie-mae-freddie-mac-plan-finally-unveiled-surprise-its-a-bailout/ You were hoping for nasty, brutish and short? Allen Sinai says expect long, wide and deep: From Bloomberg: The U.S. economy shrank at the end of 2007 and grew less than forecast in this year's second quarter, signaling that the country is in worse shape than investors had anticipated. ``We're in ... http://lolfed.com/2008/07/31/economy-showcases-lack-of-win/ Stolen but we loved it. Thanks Jess! Click for fullsize. http://lolfed.com/2008/07/25/wall-street-got-drunk-the-flowchart/ If you're wondering how Bernanke has been spending the part of his time where he isn't on TV, I was sent this image by Jim Swift - Benny's got pretty good Nats tickets there: This reminds me, Benny has been taking a lot of heat from one particular baseball player lately. ... http://lolfed.com/2008/07/15/jimmy-cayne-has-cards-benny-has-the-nationals/ PASADENA, California (Reuters) - Hundreds of worried IndyMac Bancorp Inc customers descended on the company's branches on Monday to withdraw their money, after regulators seized what was once one of the largest mortgage lenders in the United States. At a branch at IndyMac's headquarters, customers began arriving at 4 a.m., ... http://lolfed.com/2008/07/14/indymac-depositors-line-up-for-their-money-like-day-after-thanksgiving-except-not/ IndyMac Bancorp Inc., a prolific mortgage specialist that helped fuel the housing boom, was seized Friday by federal regulators in one of the largest bank failures in U.S. history. The Pasadena, Calif. thrift was one of the largest savings and loans in the country with about $32 billion in ... http://lolfed.com/2008/07/11/all-aboard-the-failboat-requiem-in-pace-indymac-bank/ From WSJ: WASHINGTON—The Treasury Department is "not talking about nationalizing" struggling mortgage giants Fannie Mae and Freddie Mac, according to a person familiar with the administration's thinking. In an unusual move, Treasury Secretary Henry Paulson issued a written statement Friday saying that the Bush administration's "primary focus is supporting Fannie Mae ... http://lolfed.com/2008/07/11/fannie-freddie-ftl-paulson-says-talk-to-the-hand/ Serious traders with a day job are probably scrambling for their DVR remote right about now, as CNBC has made the decision to cancel the 8pm EST rerun of Fast Money (the only show on the network where you might get info worth trading on) and replace it with a ... http://lolfed.com/2008/07/08/suze-ormans-nightly-cnbc-show-a-sign-of-the-financial-apocalypse/ Ben Bernanke spoke this morning about the importance of Fed power, and what a darn shame it is that the US Fed usually has to rely on "moral suasion" while other Feds have more explicit regulatory power over financial firms, and wouldn't it be nice if he had that kind ... http://lolfed.com/2008/07/08/145/