NEW YORK (March 24, 2009)-As the U.S. economic recession intensifies, the Obama administration's recently passed stimulus plan may help stabilize unemployment rates, the housing market and the financial systems, as well as promote growth in new investment areas such as energy efficiency, public infrastructure, and greenhouse gas mitigation through cap-and-trade structures, said leading finance experts at a panel discussion organized by Dow Jones Indexes/STOXX Limited.

 

Large U.S. banks on brink of insolvency, experts say

By Steve Lohr

Friday, February 13, 2009

Some of the large banks in the United States, according to economists and other finance experts, are like dead men walking.

A sober assessment of the growing mountain of losses from bad bets, measured in today’s marketplace, would overwhelm the value of the banks’ assets, they say. The banks, in their view, are insolvent.

None of the experts’ research focuses on individual banks, and there are certainly exceptions among the 50 largest banks in the country. Nor do consumers and businesses need to fret about their deposits, which are insured by the U.S. government. And even banks that might technically be insolvent can continue operating for a long time, and could

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Never before have I learned so much so quickly from my readers as I have now — all just by reading the thousands of comments you have posted on my blog in the past week!

One of your key questions: Will the new Obama stimulus and banking bailouts succeed or fail?

What will be the immediate and ultimate consequences?

What should I do?

Today’s gala edition is my response.

But let’s not waste time digging for causes — the economic blunders of Washington, the financial greed of Wall Street, or the big debts and risky bets by almost everyone.

Let’s also not waste time pointing fingers — the Clinton administration for creating the tech bubble, the Bush administration for creating the housing bubble, or the Obama administration …

Obama Link FestBarack Obama Hedge Fund Link Fest(http://HedgeFundBlogger.com) I have received many congratulatory emails over the past day from hedge fund/investment professionals in India, Switzerland, London and Singapore all thankful that Obama was elected. I found that interesting in itself and also saw a flood of articles come out discussing Barack Obama and the hedge fund industry, or Obama and the finance/investment industry in general.Yesterday I published this piece: Barack Obama & Hedge Funds... Here are excerpts and links to many of these discussions:(I never discuss my own political views through this site throwing my opinion around regarding hedge funds is enough. I don't support any of these articles one way or another but simply provide them as an aggregation of what has been put out ...

The state of California has joined the bailout cue. Governor Arnold Schwarzenegger yesterday warned Treasury Secretary Hank Paulson the state may need an emergency loan of as much as $7 billion from the federal government within weeks.