Tuesday, September 23, 2008
President Jefferson’s Treasury Secretary was Albert Gallatin… imagine serving as one of the nation’s first keepers of the treasure… From Wikipedia ~~ “… In 1812, the U.S. was financially unprepared for war. For example, the Democratic Republicans allowed the First Bank of the United States to expire in 1811, over Gallatin’s objections. He had to ship [...]
Monday, September 22, 2008
Title: Turmoil in US Credit Markets: Recent Actions Regarding Government Sponsored Entities, Investment Banks and Other Financial Institutions Date: 9/23/08 Time: 9:30 AM Place: SD-G50 Dirksen Senate Office Building
Monday, September 22, 2008
To grunt and sweat under a weary life, But that the dread of something after death, The undiscover’d country from whose bourn No traveller returns, puzzles the will And makes us rather bear those ills we have Than fly to others that we know not of? Thus conscience does make cowards of us all; [...]
Monday, September 22, 2008
“No one lights a lamp and puts it in a place where it will be hidden, or under a bowl. Instead he puts it on its stand, so that those who come in may see the light.” Luke 11:33 The actions of the US Treasury to create a $ 700 billion fund to purchase the [...]
Sunday, September 21, 2008
“What is Past is Prologue“ — from “The Tempest” by William Shakespeare From Flickr… “This statue is of a young woman who lifts her eyes from an open book and gazes into the future. The William Shakespeare quote is carved at her base. One of four statues that John Russell Pope the architect placed around [...]
Sunday, September 21, 2008
“No one lights a lamp and puts it in a place where it will be hidden, or under a bowl. Instead he puts it on its stand, so that those who come in may see the light.” Luke 11:33 I’m writing some thoughts to share with Members of Congress related to the proposed US Treasury [...]
Saturday, September 20, 2008
At times like the current crisis its natural to be a little downcast about “free market” principles… So I was happy to meet the woman from the SIFMA Foundation for Investor Education who recruits for the young investor essay contest… she was probably the only vendor at the SIFMA e-Tech show this week who did any business… She [...]
Friday, September 19, 2008
Treasury Secretary Paulson and Federal Reserve Chairman are leading an effort to roll the poor assets of banks off onto a government financed entity… Their view is that this will create “stabilization” for the financial system… from BBG… ~~ “The U.S. government moved to cleanse banks of troubled assets and halt an exodus of investors [...]
Thursday, September 18, 2008
As the global financial system falls apart it seems that our representatives in government are having a difficult time grasping the problem and are paralyzed about doing anything about… Although the Federal Reserve and Treasury are very active… Enormous sums of taxpayer dollars are being committed to bail out or prop up AIG, Bear Stearns, [...]
Wednesday, September 17, 2008
Serious… it is all very serious… from BBG… ~~ ” Deutsche Bank AG is taking steps to slow credit-default swap trades that expose it to the risk of failure among Wall Street firms, according to three investors told of the policy. Germany’s largest bank is requiring risk managers to approve trades where the company takes [...]