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ppip posts

Starwood strikes IPO gold

Posted Aug 12th 2009 1:15PM by Tom Taulli (RSS feed)
Filed under: Citigroup Inc. (C), Bank of America (BAC), Starwood Hotels Worldwide (HOT)

Starwood Property Trust (NYSE: STWD), which is a real estate investment trust, struck gold last night. The company issued 40.5 million shares for its public offering, raising a cool $810 million (this was 35% more than expected). The offering price came to $20.

Why the excitement? Basically, Starwood wants to capitalize on the low valuations in the commercial real estate markets. The main approach will be to purchase debt securities -- and perhaps wind up owning some choice properties.

Continue reading Starwood strikes IPO gold

Why is the government spending $30 billion to buy toxic assets?

Posted Jul 9th 2009 3:00PM by Connie Madon (RSS feed)
Filed under: Deals, Launches, Money and Finance Today, Federal Reserve

Do you know where another $30 billion of your tax dollars are going? You guessed it. The Federal Reserve and the Federal Deposit Insurance Corporation announced that they will spend $30 billion dollars to buy toxic assets.

To do this they have chosen nine firms out of 100 that applied for the program. The guts of the program are that the government will partner with private companies to buy toxic assets.The Treasury supposedly did background checks to be sure that none of the firms chosen had any "conflicts of interest."

Continue reading Why is the government spending $30 billion to buy toxic assets?

Cramer on BloggingStocks: Who needs the PPIP?

Posted Jul 9th 2009 10:00AM by Jim Cramer (RSS feed)
Filed under: Analyst Upgrades and Downgrades, Market Matters, JPMorgan Chase (JPM), Bank of America (BAC), Goldman Sachs Group (GS), Wells Fargo (WFC), Politics, Cramer on BloggingStocks, Financial Crisis

From TheStreet.com Network

TheStreet.com's Jim Cramer says now that most banks have raised capital, maybe it'll help the FDIC dole out assets of the losers.

Can I just say that I don't care about the public-private investment program? It was a good idea before the stress tests and would have been excellent if all of these banks hadn't raised capital.

But they have.

So now we have to struggle with the notion of the program's relevance. It can be used as a cleanup program for some companies that desperately want to sell down assets to clean up their books, but with the capital raises, none of the major banks should be interested in selling into it.

Continue reading Cramer on BloggingStocks: Who needs the PPIP?