Newspaper wrap-up: If the U.S. has to save Fannie and Freddie, triple-A rating could suffer
Posted Apr 15th 2008 9:15AM by Laurie Pasternack
Filed under: Newspapers, Magazines, Cisco Systems (CSCO), Hewlett-Packard (HPQ), International Business Machines (IBM), Citigroup Inc. (C), Oracle Corp (ORCL), Blackstone Group L.P (BX)
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MAJOR PAPERS:
- A newly published report by Standard & Poor's said that the performance of organizations such as Federal National Mortgage Association (NYSE: FNM), or Fannie Mae, and Federal Home Loan Mortgage Corporation (NYSE: FRE), or Freddie Mac, could directly affect the U.S. economy and the country's credit rating, especially if they have to be rescued by the government, according to the Wall Street Journal's "Credit Markets" column.
- Seagate Technology LLC (NYSE: STX), a hard drive maker, filed a patent infringement suit in San Francisco against STEC Inc (NASDAQ: STEC) over four patents related to technology used to store data on computer chips, the Wall Street Journal reported.
- The Financial Times reported that Citigroup Incorporated (NYSE: C) is allowing private equity groups such as Apollo, The Blackstone Group LP (NYSE: BX) and TPG that are bidding for up to $12B of its leveraged loans to 'cherry-pick' from a wide range of assets with different credit ratings and prices.
WEB SITES:
Tags: blackstone group, BlackstoneGroup, BX, C, Cisco, cisco systems, CiscoSystems, citigroup inc., citigroup inc. c, CitigroupInc., citigroupinc.c, CSCO, fannie mae, FannieMae, FNM, FNM Corp, FnmCorp, FRE, freddie mac, FreddieMac, hewlett-packard, HPQ, ibm, ibmcorp, Oracle, oracle corp, oracle corp., oracle corporation, OracleCorp, OracleCorp., OracleCorporation, ORCL, seagate technology, SeagateTechnology, stec, STX
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Reader Comments (Page 1 of 1)
4-15-2008 @ 10:43AM
B. Harrison said...
How did all of this economic debacle occur with all of those "Harvard MBA types" leading the parade politically, and economically (Geo bush is one of those>0
And NOW we are relying on those SAME people to resolve the problems . . . is that insane or WHAT? These "Harvard MBAs" have shown that they do NOT have any "common sense", ethics, morality, or sense of responsibility for what theydo either. The people who "broke the system" are in charge of resolving the problems?
4-15-2008 @ 10:51AM
B. Harrison said...
The insanity of excesses of:
1. Irresponsible government/politicians
2. Irresponsible Financial institutions
3. Irresposnible investors and homebuyers
4. Non-regulated financial industries
All shows that "common sense" has escaped allof the responsible parties. Everyone was pushing it all to the edge to maximize profits . . . and they pushed it over the edge. Unbelievable.
aAd those of us who were "conservative and prudent are paying as much as the irresponsible parties. We should sttart by IMPEACHING Bush and Cheney . . . and then go for the CEOs and work our way down the list of the irresponsible.
4-15-2008 @ 11:53AM
Petkov said...
But...but but isn't government interfering into the economy/markets called "communism"???? Haven't I been told over and over again how the USA is a "free market economy" and how the "invisible hand" will fix all the problems that arise? Have I been lied to all this time??? Say it ain't so!
4-15-2008 @ 11:59AM
B. Harrison said...
Petkov . . . "it isn't so" . . . BUT then we all know that it REALLY IS SO.
How could all of these "Harvard & Princeton MBAs" been so wrong? Is that really possible? That certainly should be a lesson for all to see in the future . . . the only person that you can believe is yourself, assuming that you aren't lying to yourself.
Impeach Bush & Cheney . . .
5-13-2008 @ 10:55AM
tony cassa said...
For the last four years, Hillary has been the leading presidential candidate for the Democratic party.
In tribute to typical Machiavellian Democratic politics, the far-left wing of the Democratic party
brought in a totally unknown and unqualified candidate to replace her, thus stabbing her in the back.
Senator Clinton has two options: declare herself an independent and run on the independent ticket
for President or as an independent, throw her support behind McCain providing he selects her as
Vice President. After his Presidency, she would be a shoo-in. REMEMBER: before she was a
Democrat, she was a Republican. Perhaps she would like to return to her roots. She owes
nothing to the backstabbers in the Democratic party...