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Financial news I consider important, with my opinion, which is worth as much as you paid for it.
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Sunday, February 22, 2009

Weekend News Roundup

RBS and Lloyds close in on £500bn Treasury deal - Spin - any company that needs 500 Bn in handouts should be regarded with suspicion.....
RBS to sell off fifth of business - Spin - and they STILL need 100's of billions in socialized money
HSBC trying to raise $20 Billion Cash ahead of earnings - Spin - No comment
China eyes record $139 bln deficit in '09 - Spin - If the USA is a debt nation, and the Chinese are one of our main financial buyers of our debt, and THEY are running a debt.....how does this all work? Notice its billions, not trillions! And they have 1.4 billion people to USA 300 million. its peanuts.
Dubai to take up $10bn United Arab Emirates Loan - Spin - just MAYBE Dubai over-shot with development..just maybe...
Taxpayers Could Own Up to 40% of Citi's Common Stock, Diluting Value of Shares - Spin - Who needed this deal, the taxpayer or Citi? And why not get 51%? If not 100%?
Fannie Mae Rescue Hindered as Asians Seek Guarantee - Spin - Why doesn't the government just get it over with and guarantee ALL DEBT! After all, everyone deserves help!
Latvia's government collapses amid economic crisis - Spin - One of my 2009 predictions came true..and its only February!
George Soro's sees no bottom - Spin - Of course there's a bottom! Have some imagination George...say Dow 0? Military Rule in US?
Credit crunch may only have just begun, S&P warns - Spin - #$%#@$%#holes! Where where you back in 2005-6 when the writing was on the wall. Any moron can jump on the doom and gloom bandwagon now! And it was your JOB TO RESEARCH into financial risk assesment, and you FAILED. No time to get honest now, stick with AAA ratings on junk debt. This is blatant CYA for the wave of lawsuits that will put this company out of business.
Ireland continues to have financial issues - Spin - If it wasn't a member of European Union, Ireland would be toast

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