CIT files for bankruptcy protection – MarketWatch

CIT files for bankruptcy protection – MarketWatch

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Has it really been almost a year since I posted last!! What a slacker.. or not!

Not over yet! We still have commercial lending to wade through. Sqeeeezing out small and medium business if they are not liquid enough. I should read the article before I post it, but I’m pretty sure I know what it is going to say….

Really!??  —->      “The bankruptcy is not likely to upend the broader U.S. economy”

But what about??? —–> “CIT’s bankruptcy… — the biggest loss from TARP so far…. $2.3 billion it (Treasury Department aka.  taxpayer’s FUTURES)  invested.”

SO if you are an economic enthusiast like I am.. Leave some thoughts on the repercussions of the resulting mergers and acquisitions that are inevitable in commercial lending.

What is so familiar about his one…?

“More importantly, CIT was one of the largest nonbank lenders in the world, a big part of the so-called shadow banking system that collapsed when the financial crisis erupted last year.” —- https://selfinterests.wordpress.com/2008/06/20/banking-10-trillion-shadow-world/

Can you say 10 TRILLION class??

This is also a good place to find info on the largest financial crisis since the Great Depression. http://wapedia.mobi/en/Financial_crisis_of_2007–2009 Don’t forget to open a new tab and brush up on your financial vocab!!

Great quotes like this one!!    -“Since peaking in the second quarter of 2007, household wealth is down $14 trillion”

Eureka! Here is what I was looking for!!     -In a Peabody Award winning program, NPR correspondents argued that a “Giant Pool of Money” (represented by $70 trillion in worldwide fixed income investments) sought higher yields than those offered by U.S. Treasury bonds early in the decade. (Thanks wapedia!)

Listen– http://www.npr.org/templates/story/story.php?storyId=90327686&ps=rs

Supply and Demand are the most basic functions of the economic system. When you try to BECOME the “Invisible Hand” it will inevitably be bitten… Greed you dirty dog…

 

History has been made!

On November 4th 11:18pm EST, John McCain gave a gracious concession speech recognizing Barack Obama as the first African-American President of the United States, thus shattering the ceiling of white privilege that has for so long held down those who were not white males. On November 5th 12:00am EST He accepted his nomination. Well done, Barack… Well, done.. 

I made my decision based on a prayer and a manfestation of faith, for me, that was compairable to a cloud or pillar of fire or a sheep skin with or without dew. The Lord’s will is a powerful thing.

 

BANKING: $10 trillion shadow world

Regulators eye $10 trillion market that boomed outside traditional banking…

SAN FRANCISCO (MarketWatch) — A network of lenders, brokers and opaque financing vehicles outside traditional banking that ballooned during the bull market now is under siege as regulators threaten a crackdown on the so-called shadow banking system.

 

Michigan Economic Recovery: College Grad Retention

Michigan Economic Recovery: College Grad Retention
Where do we go from here? Well to some the outlook in Michigan is as bleak as a winter sky. However, the key to Michigan’s economic recovery from globalization’s effect on the manufacturing industry is college graduate retention.

 

Adam Smith

Adam Smith

Ladies and gentlemen, I am glad you all could join me in celebrating the life of Adam Smith through his literature. I have been recently fascinated by Adam Smith and his clichés that have somewhat haunted me as of late. With phrases such as “self interests”, “free trade”, and the “invisible hand” ringing in my ears like the Liberty Bell, pre-fracture, I set my course to follow in the footsteps of Adam Smith and discover what character traits define him.

 

Building Blocks of Financial Stability

Informative Speech
Building Blocks of Financial Stability

Intro:

My name is David Bruce Mahorney III and I …. I am fiscally irresponsible… That is… until I start taking control of my money instead of it controlling me…

 

Which Came First, The Chicken or the Egg?

Which Came First, The Chicken or the Egg?

From the golden spike that connected railways sea to shining sea; to Morse’s code that dashed between poles dotting the fruited plains; to digital signals transmitted via satellite over purple mountains and through fiber lines crisscrossing beneath amber waves of grain; capitalism has given America opportunity and growth as limitless as its spacious skies. The vast economic growth we, as Americans, have experienced is unrivaled throughout civilization.

 

What did the Crusades Accomplish?

What did the Crusades Accomplish?

Some view the Crusades as wars of bloodlust, greed and power. War is an escalated conflict of interest usually over money and/or resources. The outcome of war is that one culture advances due to newly acquired resources or advancements made from the war. The Crusades, in principle, were originated to assist Constantinople from the onslaught of Seljuk Turks and free the Holy City of Jerusalem from the clutches of Muslim control. These events would create the most dramatic geopolitical upheaval until the discovery of the New World. Europe at this time was in a political rut called Feudalism.

 

Article #2

Article #2

Retail Sales Suggest Economy
May Be Stronger Than Expected
Wholesale Prices Surge on Energy

By JEFF BATER and BRIAN BLACKSTONE
December 13, 2007 10:51 a.m.

WASHINGTON — U.S. retail sales surged during November, making a surprisingly strong, broad-based climb that suggests the economy might not be as weak as feared. Meanwhile, U.S.wholesale prices soared last month at their fastest pace since the Nixon Administration, spurred by record gains in energy prices.

 

Article #1

Dave Mahorney
Sandy Lenchner
Econ 202
December 1, 2007

Wall Street Journal Articles
Article #1
Lookahead: Gimme Gimme Gimme

By ROB CURRAN, DANIELLE LEGRAND and DEBORAH LYNN BLUMBERG
December 8, 2007 2:16 p.m.

Like a spoiled child awaiting holiday gifts, the stock market is stamping its proverbial foot and saying: “I want a rate cut, or else.”The combination of slowing jobs growth, somewhat weakened retail sales, and continued credit and housing market distress, has investors clamoring for more assistance from the Federal Reserve.And — after this week’s rally and September’s indulgent 50-basis point move — the market may even turn its nose up at a 25-basis point cut Tuesday when Fed policy makers meet.