Monday, October 06, 2008
Bailouts Everywhere
- After Ireland and Greece, Germany guarantees all deposits (translation, bloomberg link)
- Iceland thinking of a $14 billion rescue (which for Iceland is a LOT of money)
- TED Spread at 3.87, which is statistically equivalent to a sudden volcano in Worli, Mumbai.
- Germany also bailing out Hypo, which is a real too-big-to-fail estate company.
- Companies like Charter and Freescale are bailing themselves out buying back their own debt at obscenely low prices.
- Lehman's creditors say JP Morgan was responsible for it going down, by holding back assets. Heck, JPM bought Bear Stearns, which did the same thing to LTCM in 1998 - obviously JPM inherited the attitude.
- Holland nationalises Fortis.
- Wachovia gets rapped for running to Wells Fargo who gave a sweeter deal, over Citi who rescued it. The court says no, you gotta deal with Citi. Wachovia doesn't quite agree.
- Tata Motors bails out of Singur.
Labels: Crisis2008
3 Comments:
To what extent does the RBI guarantee deposits in India?
RBI only guarantees upto 100,000. But there is impliclit unlimited guarantee if you keep deposits with Public Sector Banks.
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