February 11, 2010

Why Underwater Loans Are NOT Being Negotiated

This will tick you off royally. You’ve been warned.

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May 7, 2009

Bank “Stress Tests” Results Are Finally In: Fed Licks It’s Chops

The long-awaited, much heralded bank “stress test” results were FINALLY released today. Turbo-tax Tim Geithner delayed them a few days, and waited until after the market close today…although much of the news was intentionally leaked before the release. Leaks claimed that the test found that Bank of America needs $33.9 billion in additional capital. The […]

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March 11, 2009

Obama Spanks Congress On Earmarks; Gives New Rules On Pork

Barry came out and sternly and announced his New Era of Responsibility and Accountability for Congress, particularly the leadership. He had to hold his nose so much when he signed the much-maligned Omnibus Overspending bill, that he did it behind closed doors. So why didn’t he veto it, send it back to Congress and tell […]

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February 27, 2009

Toxic Assets Indeed!

Many times we’ve discussed the “toxic assets” held by the banks, and the role they are playing in the global economic meltdown. One of the problems with these derivative securities is this: most of them never traded on any exchange, so valuing them is difficult. The banks had been valuing them at 100% or more […]

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February 25, 2009

The Thing That Ate America

This is becoming like watching one of those horror movies where the bad guy keeps coming back…with even more scary big government programs that have failed the American people time after time. Only this time WE ARE FLAT BROKE. Correction: only this time WE ARE IN A CHINESE DEBTOR’S PRISON. If you’re keeping score at […]

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January 18, 2009

The Vampires And Corrupters Of Capitalism

In the clip below, CNBC’s Dylan Ratigan, host of ‘Fast Money’ and ‘Closing Bell,’ explains why Citigroup’s potential deal with Morgan shows just how bad things are. Sandy Weil and the boys are taking the ride of their lives. Anything less than outrage over this idiocy and flat-out theft is heartbreaking. On Friday, Bank of […]

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December 22, 2008

Banks Refuse To Give Specifics On How They Spent Bailout Funds

Sad to say, but this horse has left the barn, and we taxpayers have little chance of it coming back. We’ve been loudly ringing the bell on the bailout here at Right Soup, so it’s no shock to us that the well-connected bankers who’ve received incredible amounts of our tax dollars via the TARP to […]

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December 12, 2008

Prominent Investor Jim Rogers Says US Banks Are Bankrupt

Jim Rogers, one of the world’s most prominent international investors, called most of the largest U.S. banks “totally bankrupt” yesterday, and said government efforts to fix the sector are wrongheaded. Speaking by teleconference at the Reuters Investment Outlook 2009 Summit, the co-founder with George Soros of the well-known em>Quantum Fund, said the government’s $700 billion […]

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December 3, 2008

Audit of $700B Financial Services Bailout Has Lawmakers Seething

Lawmakers on the Hill are not happy with the Treasury Department’s execution of the $700 billion financial industry bailout plan after the first comprehensive report on the rescue package found more oversight was needed. Shocker! The report was released yesterday. Today, House Republicans warned Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke today […]

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