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Principles of Finance_Biederman_Date_021710

Principles of Finance_Biederman_Date_021710 - Whats...

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What’s Happening/Next? - Big banks are getting bigger (and potentially weaker?) o Bank of America 2008 o Commercial loan will affect regional banks o If you are “in the wrong business” won’t get loans anymore - Investment banks (morph into) banks or are gone - Nationalization? o AIC/CNMA/FRE/BAC/CiTi CM - Treasury garage sale o Toxic assets being unloaded (no one wants it) o Government wants it off their books - More power to the Feds o They might not want it but they don’t know what to do with it -Example: golf course associated with S&L that went bankrupt—Tiger Woods went there; Mobile Oil owned it—Increases the want to go there because celeb was there - Wall Street o SOS, Competition of Currency, FDIC, Treasury Recovery Proposal: - Private/public asset disposal o Until cleared banks under capital requirement are afraid to do anything/take risks - Keep interest rates low for now, withdraw liquidity later - Stay focused o James Carval ‘it’s the economy/jobs stupid’ - Reduce taxes on capital o
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