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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.
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?
Continue reading Cramer on BloggingStocks: Who needs the PPIP?
| # | Blogger | Posts | Cmts |
|---|---|---|---|
| 1 | Joseph Lazzaro | 107 | 0 |
| 2 | Tom Johansmeyer | 97 | 3 |
| 3 | Connie Madon | 50 | 0 |
| 4 | Steven Mallas | 42 | 0 |
| 5 | Mark Fightmaster | 41 | 0 |
| 6 | Tom Taulli | 40 | 0 |
| 7 | Steven Halpern | 31 | 0 |
| 8 | Trey Thoelcke | 29 | 0 |
| 9 | Melly Alazraki | 25 | 0 |
| 10 | Zac Bissonnette | 23 | 0 |
| 11 | Paul Foster | 23 | 0 |
| 12 | Brian White | 22 | 0 |
| 13 | Brent Archer | 21 | 0 |
| 14 | Jon Ogg | 21 | 0 |
| 15 | Jim Cramer | 21 | 0 |
| 16 | Elizabeth Harrow | 18 | 0 |
| 17 | Eric Buscemi | 17 | 0 |
| 18 | Sheldon Liber | 13 | 0 |
| 19 | Michael Fowlkes | 8 | 0 |
| 20 | Beth Gaston Moon | 8 | 0 |
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