The states govt is planning to take warrants for stock in any bank of financial company which takes over $300m in , which may, or may not be exercised.
In a teleconference intended only for the ears of investment bankers, treasury officials described how all the measures being put into the bailout bill can be easily circumvented - that they are in the bill solely for political grandstanding and unlikely to be taken up.
If you're interested in following the crisis blow by blow, these 2 sites will be interesting:
Calculated Risk
naked capitalism
Enjoy.
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"I do not agree that the dog in a manger has the final right to the manger even though he may have lain there for a very long time. I do not admit that right. I do not admit for instance, that a great wrong has been done to the Red Indians of America or the black people of Australia. I do not admit that a wrong has been done to these people by the fact that a stronger race, a higher-grade race, a more worldly wise race to put it that way, has come in and taken their place." - Winston Churchill, 1937 --{ORLY?}--
Last edited by tisonlyi; 10-03-2008 at 07:15 AM..
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