Monday, November 24, 2008

Hanky Panky

(You really have to feel sorry for Trader Hank ,- after all he didn't even know about AIG being systemic until Goldie took him aside one long weekend, since then its' felt like Creditanstalt - he thought he was going to be able to return and relax in his 'stuffed heads' room and the next thing you know Timmy G is on the phone. Seems like they can 'source' the rest after all- AM)

(Nov. 24) Bloomberg - In announcing his nomination of New York Federal Reserve Bank President Timothy Geithner to succeed Paulson as Treasury chief, Obama also pledged to “honor the commitments” of the outgoing teams, suggesting he has no plans to overhaul the implementation of TARP funds committed so far.

Treasury Secretary Henry Paulson, less than a week after indicating he would let the Obama administration decide how to use the second half of the $700 billion financial fund, is considering asking for the money.
Paulson may ask Congress for the remaining $350 billion from the Troubled Asset Relief Program.

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