Events this week were dominated by the announcement of US Treasury Secretary Geithner’s Financial Stability Plan and a deal reached in the Senate on the Economic Stimulus Bill. However, the big bail-out bang soon whimpered as investors were disappointed about the lack of detail.
While markets remained mired in uncertainty, a barrage of video footage on the ins and out of the various plans was produced. Commenting on the financial rescue packages were the likes of Bill Gross, Paul Volcker, Steve Forbes, Frederic Mishkin, Mark Zandi, Robert Shiller, Byron Wien, Martin Feldstein, Paul McCulley, Jim Rogers, Nouriel Roubini, Peter Schiff and John Silvia.
In lighter vein, this week’s compilation kicks off with a message from Jon Stewart to Wall Street: “I suggest that you don’t complain about whether or not you get a window seat on the rescue boat.” Also, don’t miss the “Stimulus” item at the end of the post.
The Daily Show: Wall Street bailout
“Wall Street doesn’t like how the trillion dollars will be distributed to save them.”
Source: Jon Stewart, The Daily Show, February 11, 2009.
ABC News: Obama – no “easy out” for Wall Street
Source: Terry Moran, ABC News, February 10, 2009.
Financial Times: Big bail-out bang whimpers
“The Treasury’s financial rescue plan lacks detail and was unwelcome by the markets, says FT’s Francesco Guerrera.”
Click here for the article.
Source: Financial Times, February 10, 2009.
CNBC: Deal reached on economic stimulus bill
“A deal has been reached on an economic stimulus bill, according to Senate Majority Leader Harry Reid.”
Source: CNBC, February 11, 2009.
Bloomberg: Gross, Volcker, Mishkin and Forbes on stimulus
“Bill Gross, co-chief investment officer of Pacific Investment Management Co. and former Federal Reserve Chairman Paul Volcker speak about the prospects for a US economic stimulus package. President Barack Obama is demanding Congress to pass a stimulus bill before its February 16 President’s Day holiday. This report also includes comments from former Fed Governor Frederic Mishkin, Steve Forbes, chief executive officer of Forbes Inc., Charles Calomiris, a professor at Columbia University, Mark Zandi, chief economist of Moody’s Economy.com, and Joel Prakken, chairman of Macroeconomic Advisers.”
Source: Bloomberg, February 10, 2009.
CNBC: Shiller and Wien discuss stimulus
“Insight on how human psychology drives the economy, with Robert Shiller, Yale School of Management’s professor, and Byron Wien, Pequot Capital chief investment strategist.”
Source: CNBC, February 11, 2009.
