Geithner to outline regulatory overhaul today; hedge fund managers Paulson and Cooperman warn against excessive measures. (NYT) US drug war has been a failure, says Clinton in Mexico, blaming “insatiable
To paraphrase Paul Krugman, it looks like the zombies have won. Insolvent banks continue to roam the earth, sucking up unfathomable sums of taxpayer capital, provided to hedge fund intermediaries
Wall Street expresses anger at policymakers at Future of Finance conference; private equity manager says Washington is “stretching our social fabric.” (WSJ) Specter to oppose EFCA. (Washington Independent) Top hedge
Administration is “operating on all cylinders” in reaching out to bankers like Wolf, Dimon, Gallogly. (WSJ) Market surges 500 points on news of Geithner plan. (NYT) Senate to table bonus
Since the Obama administration leaked details of its toxic asset plan on Friday night, the reaction in the blogosphere has been swift and harshly critical: the zombie plans have won,
Treasury releases details of toxic asset purchase plan; government hopes generous loans to investors will encourage them to overpay for assets. (NYT) Romer says private investors who participate in toxic
I want to raise a few points on AIG that don’t seem to be coming up elsewhere, but that need critical attention if we are to understand how this disaster
By a vote of 328-93, House passes historic bill to tax bonuses at Wall Street firms at rate of 90%; Kramer, Pandit, Boehner opposed. (NYT) Axelrod says Americans don’t care
In surprise move, Fed announces it will print $1 trillion in attempt to spur recovery. (NYT) AIG CEO Liddy draws ire of House committee; says he will urge employees to
WSJ report: AIG bailout money may be going to hedge fund clients of Deutsche, Goldman, et al. (WSJ – subscription; Reuters) Cuomo reports AIG bonuses included $33.6 million for 52
