Dow rises 494 points on Treasury post...

Dow rises 494 points on Treasury post talk - Business

There are 12 comments on the Honolulu Star-Bulletin story from Nov 22, 2008, titled Dow rises 494 points on Treasury post talk - Business. In it, Honolulu Star-Bulletin reports that:

NEW YORK>> Wall Street put a stop to a terrifying decline and stormed higher yesterday as President-elect Barack Obama appeared ready to tap the chief of the New York Federal Reserve as the next treasury ...

Join the discussion below, or Read more at Honolulu Star-Bulletin.

al Guacamole

Honolulu, HI

#1 Nov 23, 2008
Hope that the news of Obama's other appointments will have as good an effect on the stock market. With a rising stock market, I'm sure that banks will start to lend again. When that happens, business will start to recover.
Tama Samoa

Kihei, HI

#2 Nov 23, 2008
al Guacamole wrote:
Hope that the news of Obama's other appointments will have as good an effect on the stock market. With a rising stock market, I'm sure that banks will start to lend again. When that happens, business will start to recover.
FDIC have push the limit up to $TRIL but the banks are still not convincing. Its not who Obama will or has picked and its not gonna be Paulsons $700Bill.

Unless forclosure finds the bottom and unemployment drops and trust is restore to investers, it will take a while to recover as the bear momentum is picking up speed going in to new year.

Tr
Tama Samoa

Kihei, HI

#3 Nov 23, 2008
al Guacamole wrote:
Hope that the news of Obama's other appointments will have as good an effect on the stock market. With a rising stock market, I'm sure that banks will start to lend again. When that happens, business will start to recover.
Get use to Obamas promises for change, its call broken promises.

UPDATE 1-Obama may delay tax-cut rollback for wealthy
WASHINGTON, Nov 23 (Reuters)- U.S. President-elect Barack Obama may consider delaying an election promise - to roll back tax cuts on high-income Americans - as part of his economic recovery strategy, two aides said on Sunday.

David Axelrod, the Obama campaign strategist who was chosen to be a senior White House adviser, was asked if the tax cuts could be allowed to expire on schedule after tax year 2010 rather than being rolled back by legislation earlier.'Those considerations will be made,' he said on 'Fox News Sunday.'

Bill Daley, an adviser to Obama and commerce secretary under former President Bill Clinton, said on NBC's 'Meet the Press' that the 2010 scenario 'looks more likely than not.'

U.S. President George W. Bush's tax cuts are set to expire at the end of 2010. After that they would revert to 2001 levels when the top individual tax rate was 39.6 percent.

Obama has called for reducing taxes for the middle class, but requiring the wealthiest Americans to pay more than the current top rate of 35 percent.

His aides' comments suggest Obama may be wary of imposing any additional tax burden at a time of deep crisis, despite the outlook for record budget deficits and mounting national debt...

Since: May 08

Ewa Beach, HI

#4 Nov 26, 2008
Tama Samoa wrote:
<quoted text>
Get use to Obamas promises for change, its call broken promises.
UPDATE 1-Obama may delay tax-cut rollback for wealthy
WASHINGTON, Nov 23 (Reuters)- U.S. President-elect Barack Obama may consider delaying an election promise - to roll back tax cuts on high-income Americans - as part of his economic recovery strategy, two aides said on Sunday.
David Axelrod, the Obama campaign strategist who was chosen to be a senior White House adviser, was asked if the tax cuts could be allowed to expire on schedule after tax year 2010 rather than being rolled back by legislation earlier.'Those considerations will be made,' he said on 'Fox News Sunday.'
Bill Daley, an adviser to Obama and commerce secretary under former President Bill Clinton, said on NBC's 'Meet the Press' that the 2010 scenario 'looks more likely than not.'
U.S. President George W. Bush's tax cuts are set to expire at the end of 2010. After that they would revert to 2001 levels when the top individual tax rate was 39.6 percent.
Obama has called for reducing taxes for the middle class, but requiring the wealthiest Americans to pay more than the current top rate of 35 percent.
His aides' comments suggest Obama may be wary of imposing any additional tax burden at a time of deep crisis, despite the outlook for record budget deficits and mounting national debt...
Howzit Tama,

Figure out how to get some TARP money yet?

My stocks qualify as a troubled asset, but I'm not deliquent on anything so I don't get a hand-out from the govt.

Obama's not going ot raise taxes in 2010 which must be giving some in his support base fits.

People call Bush stupid, but maybe he painted Obama in a corner for a reason. LOL!

Al Obama picks Summers and Paul Volker to head his econ team.

We're going to need Volker the way we're running the govt printing press, and inflation comes roaring back in 2010- 2012.

Looking at gold to shoot up in the future...

Since: May 08

Ewa Beach, HI

#5 Nov 26, 2008
Nuff wrote:
<quoted text>
Howzit Tama,
Figure out how to get some TARP money yet?
My stocks qualify as a troubled asset, but I'm not deliquent on anything so I don't get a hand-out from the govt.
Obama's not going ot raise taxes in 2010 which must be giving some in his support base fits.
People call Bush stupid, but maybe he painted Obama in a corner for a reason. LOL!
Al Obama picks Summers and Paul Volker to head his econ team.
We're going to need Volker the way we're running the govt printing press, and inflation comes roaring back in 2010- 2012.
Looking at gold to shoot up in the future...
I meant to write:

At least Obama picks Geithner, Summers, and Paul Volker to head his econ team.

By the way, when the dollar comes down, what currency will be strong?

The Euro countries are a basket case, Japan is down, etc.

Since: May 08

Ewa Beach, HI

#6 Nov 26, 2008
CNBC got it right.

The govt is now the largest private equity fund after buying the banks, U.S. consumers, etc.

It's a big bet that can make big profits when you look at the spreads.
willie

Plymouth, MI

#7 Nov 26, 2008
Nuff wrote:
<quoted text>
I meant to write:
At least Obama picks Geithner, Summers, and Paul Volker to head his econ team.
By the way, when the dollar comes down, what currency will be strong?
The Euro countries are a basket case, Japan is down, etc.
Gold K-rands?
Tama Samoa

Honolulu, HI

#8 Nov 26, 2008
UPDATE 1-FACTBOX-Fed opens $800 bln spigot for consumer loans
WASHINGTON, Nov 25 (Reuters)- The U.S. Federal Reserve, with the backing of the Treasury, on Tuesday outlined an $800 billion lending facility to support the market for consumer debt securities.

The fresh money will chiefly be used to loosen up the housing finance market, but a share will aid the asset-backed securities market in a program called the Term Asset-backed Securities Loan Facility, or TALF. Following are details of the plan:

* Beginning next week, the Fed will buy up to $100 billion in debt from mortgage-finance enterprises Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks in a competitive bidding process through the central bank's primary dealers.

* The Fed will buy up to $500 billion in mortgage-backed securities issued by Fannie Mae, Freddie Mac and Ginnie Mae. The Fed hopes to begin those purchases, made through asset managers, before the end of the year.(While Fannie Mae and Freddie Mac were seized by the government in September, Ginnie Mae has always been in government hands).

* Federal Reserve Bank of New York will lend up to $200 billion on a non-recourse basis to holders of some triple-A-rated asset-backed securities (ABS) that hold fresh consumer and small business loans. The Treasury will pitch in $20 billion to help underwrite those investments.

* The Treasury funds will come from the remaining portion of the first tranche of its $700 billion financial rescue fund, known as the Troubled Asset Relief Program (TARP). The action leaves the Treasury just $20 billion in TARP funds before it must seek congressional approval to release a second $350 billion.

* ABS issuance of consumer loans -- such as for autos, education and credit cards -- were roughly $240 billion in 2007, but essentially ground to a halt in October, Treasury said.

* Income from the TALF assets will be used to first repay principal and interest to the New York Fed, and then to repay principal and interest on the $20 billion from the Treasury TARP fund. Any residual returns will be shared between the New York Fed and the Treasury.

* The New York Fed will apply a 'haircut' to the value of the securities used as collateral for loans under the program.

* The New York Fed will offer a fixed amount of loans from the facility on a monthly basis. These loans will be awarded to borrowers each month based on a competitive, sealed bid auction process and the bank will set minimum interest rate spreads for bidding.
Tama Samoa

Honolulu, HI

#9 Nov 26, 2008
Nuff wrote:
<quoted text>
Howzit Tama,
Figure out how to get some TARP money yet?
My stocks qualify as a troubled asset, but I'm not deliquent on anything so I don't get a hand-out from the govt.
Obama's not going ot raise taxes in 2010 which must be giving some in his support base fits.
People call Bush stupid, but maybe he painted Obama in a corner for a reason. LOL!
Al Obama picks Summers and Paul Volker to head his econ team.
We're going to need Volker the way we're running the govt printing press, and inflation comes roaring back in 2010- 2012.
Looking at gold to shoot up in the future...
TARP? LOL. Its just another way to shift the bubble from fail companies into Government bubble.lol But it is a smart move by the feds to create TARP right now to help slow down the free fall, now they have to make sure it goes to the right business, companies, and keep Pelosi out from interfering.

Obamaosamas economic promises seems to change from week to week. Thats because what he promise before and what he is finding out from top economist are opposite. He has to readjust. But one thing for sure from his rhetoric is inflation will see the highest jump in 2009 alone, with our national debt beyond the point of no return.

Bernake have been trying to balance out inflation using interest rates. But seems to me Obamas no concearn on inflation, rates will have to settle at 0%-1% for the first 6 month of 2009 or the whole of 2009.

Because of the strong dollar it is keeping oil price down and keeping energy inflation at bay.

Europe and England and most other nations will bounce back with clean records from this global recession where as the US will bounce back with a chain metal ball of debt in its angle heavier by the month lol. Like I said before, america is not the same anymore.

I am looking at emerging markets India China to have a major voice and effect in the future global market. IMF has to restructure of cut off and rebuild new one.

Oil are in the buying zone right now cause it will jump back high according to Obamas rhetoric. The first of the year will see some intersting economic shift.

Risk avertion is keeping the dollar and yen high but once confidence and clear picture of what to expect next year with low volatiltiy then its back to dollar dropping low again. I say stay with Euro and Pound as they seem to have a clear recovery plan for next year.

Westside Wind

Honolulu, HI

#10 Nov 26, 2008
Howzit my samoan braddah from that beautiful samoan madda. Have a Happy Thanksgiving and hold onto your money, "Help is on its Way". lol.
Aloha, Talofa.
alice

Honolulu, HI

#11 Nov 26, 2008
The phony orchestrrated "war on terror" simply gave Bush cover for his agenda hon. Look behind the curtain for a change.
Tama Samoa

Honolulu, HI

#12 Nov 26, 2008
Westside Wind wrote:
Howzit my samoan braddah from that beautiful samoan madda. Have a Happy Thanksgiving and hold onto your money, "Help is on its Way". lol.
Aloha, Talofa.
Good to hear from you west wind. I thought Obama pick you for a position in the white house by now.

Happy thanks giving to you and your family. I got my TARP. Its covering my leak garage lol. Take care.

Tell me when this thread is updated:

Subscribe Now Add to my Tracker

Add your comments below

Characters left: 4000

Please note by submitting this form you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

Deposit Discussions

Title Updated Last By Comments
Who is racist Vincent Cutler owner Cutler Excav... Mon Sick of scum 1
News Joseph Smith's Arrest Records Found (Jun '08) May '17 Deacon 48
News Delaware Inn destroyed by blaze (Feb '08) Feb '17 Elle 24
News Know how to determine if your bank is in trouble (Oct '08) Apr '16 Lori 2
Melissa Stever where are you (Apr '16) Apr '16 hustlerMan 1
News Qualfon to Build Contact Center and Back-Office... (Jan '14) Jan '14 SAL THE TURK 1
Election Who do you support for U.S. House in New York (... (Oct '10) Jun '13 Deborah 200

Deposit Jobs

More from around the web

Personal Finance

Deposit Mortgages