U.S. planning to buy equity in financial institutions -------------------------------------------- any equity the government purchases ...would be on a non voting basis... Get the presses rolling, time to see the other side of volatility. ______________________________ http://www.reuters.com/article/topNews/idUSTRE49994420081010 WASHINGTON (Reuters) - U.S. Treasury Secretary Henry Paulson said on Friday the United States is developing plans to buy equity in financial institutions if necessary to halt market turmoil. "We are working to develop a standardized program that is open to a broad array of financial institutions," he said in a statement after a meeting of top economic officials of the Group of Seven major industrialized nations. Paulson said the program, which would use authorities created by a broad financial rescue package passed last week by Congress, would be designed to encourage the raising of new private capital to complement the public capital injections. "Consistent with the legislation, any equity the government purchases through a broadly available equity program would be on a non-voting basis, except with respect to the market-standard terms to protect our rights as investors," Paulson said. (Reporting by Mark Felsenthal and David Lawder, Editing by Chizu Nomiyama)
The Treasury Department will be renamed. Banks 'R Us Henry Paulson will no longer be called Secretary of the Treasury. He will CBH of Banks 'R US, that is an acronym for Chief Bag Holder.
Hi - The next phone call solitication you get could go like this: This is the Fed Reserve Bank calling- We have been printing money so that Asian investors in our decrepit banking system can save face. They are in the process of revaluing the yuan and this will shit on our dollar and our worthless treasuries. To stop this from happening: Press 1 for 30 Year Treasury Bonds and US dollar Press 2 for Recently issued stock in Mutual of Ohama Press 3 for a customer service representative or Hold while we short Gold
Gold down, 7000 lot SP buy order through Goldman near the lows according to floor trader on Bloomberg TV.
I want the news early too - do you have a link to the blog that posts Treasury news before it's public?
So the PPT have let the market drop 40% from the highs have they? Bang up job guys (PS they dont exist!!)