Green Options » FED

Tests Are Over But American Banks Are Still Stressed

Reenita Malhotra — Sat, 09 May 2009 08:35:12 +0000

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Economist, James Galbraith, on bank stress tests

The results of bank stress tests released this week, do not bear good news. The bottom line is that at total of $75 billion needs to be raised from 10 major banks to prop them up for losses that could come from a deepening recession.

Here is a Top 4 summary of who needs what in the next six months:

Bank of America (BAC) will have to raise $33.9 billion;
Wells Fargo (WFC), $13.7 billion;
GMAC (GJM), $11.5 billion; and
Citigroup (C), $5.5 billion

The question people are asking is whether this is the worst news yet? Or whether it is news that the worst is over?

There is no easy answer. The truth is that if unemployment continues to rise, housing prices continue to fall and the economy continues to shrink, then much more money might be needed as problem bank loans could be on the rise.

Fish Oil Diet Could Curb Greenhouse Gases From Cow Farts

Andrew Williams — Mon, 30 Mar 2009 13:44:16 +0000

Irish scientists have discovered that adding just a small amount of fish oil to the diet of cattle can vastly reduce the amount of methane produced by, ahem…cow farts.

Climate scientists have long known that, pound for pound, methane is 20 times more powerful than carbon dioxide at trapping the suns rays, making it a highly potent greenhouse gas. An incredible 900 billion tonnes of the noxious fumes are produced each year by methanogen bacteria that live in the digestive systems of ruminants such as cattle, sheep and goats.

Bush Plays the Joker in The Dark Knight Bailout (VIDEO)

Jerry James Stone — Thu, 25 Sep 2008 22:48:39 +0000

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Thank you getthebigpicture.net. Video source: MBelinkie on YouTube

Nothing Sustainable about a $700 Billion Bailout Plan: Why not MADE IN AMERICA?

John Ivanko — Wed, 24 Sep 2008 16:28:06 +0000

There’s nothing sustainable about the $700 billion Federal bailout plan for the decomposing financial sector of the US financial system. Americans know it, judging by the outpouring of objections sent to US legislators and reflected in national polls this past week.

According to various estimates by experts in the financial industry, the proposal to let the government buy bad assets from banks range from $500 billion to $1 trillion. Hank Paulson, Treasury Secretary, and Ben Bernanke, Fed Chairman, are asking for $700 billion – for now.

Keep in mind that this is ON TOP OF the costs already incurred for various government actions this year, including, but not limited to:

* up to $85 billion for AIG
* up to $29 billion to fund JPMorgan’s takeover of Bear Stearns
* up to $200 billion each for nationalization of Fannie Mae/Freddie Mac
* as much as $50 billion to insure money market funds
* up to $25 billion for special loans extended to GM and Ford

Let’s not forget the billions of dollars in expenses to help those in flooded or hurricane-destroyed areas – so recent that the costs aren’t even in for the damage done from Hurricane Gustav and Hurricane Ike. There’s plenty of other federal funds flowing to counties throughout the US that were declared federal disaster areas in 2008 – like in Vernon County, Wisconsin, where we own a silviculture operation.