Tag Archives: yuan swaps

Stacy Summary: The oligarchs are in the news today.  And just as in the case of transfer of power in other corrupt states like post-Soviet Russia, old favorite oligarchs are punished and new favorites are rewarded with a transfer of wealth from the public.

• Tim Geithner’s non-recourse gift that keeps giving to Bill Gross

• Dems investigate Bush administration role in AIG

• Loopholes galore in Geithner’s plans

• London bankers place bets on numbers of arrests and deaths of G20 protestors

• UK suburb with a 68% store vacancy rate

• The role of currencies in the global financial crisis

• Foreign banks benefited most from AIGs $180 billion bailout pass through mechanism

Afternoon updates:

• Credit card write charge-offs hit record high

• G20 gets ready to announce $1 trillion in ‘stimulus’ plans; including $500 billion for IMF

• Market soars as marked to market rules relaxed

• Angry village mob thwart Google streetview car