By William Patalon IIIExecutive EditorMoney Morning/The Money Map Report President-elect Barack Obama's transition team is reportedly putting the finishing touches on an economic recovery plan that could run from $675 billion to $1 trillion, though many experts believe the program will most like range between $700 billion and $800 billion. Briefings for top congressional Democrats […]
Archives for January 2009
January 2009 - Page 12 of 12 - Money Morning - Only the News You Can Profit From
Jim Rogers: $700 Billion Banking Bailout is ‘Horrible Economics’
By William Patalon IIIExecutive EditorMoney Morning/The Money Map Report Ask investing icon Jim Rogers about the $700 billion U.S. banking bailout, and he'll tell you that it's nothing but "horrible economics." And with good reason: Most of the major U.S. banks are already bankrupt. "Without giving specific names, most of the significant American banks, the […]
Gloomy Earnings Prospects Hold Key to Stock Buying
By Martin HutchinsonContributing EditorMoney Morning The consensus estimate of earnings for the Standard and Poor’s 500 Index for 2009 is currently about $83. The index itself is currently standing at about 904. That means the market is trading on only 10.6 times next year’s forecast earnings, far below the historical average multiple. So it is […]
Global Investing Roundups
China Lifts Inflation Controls; Awful Year for India Rupee; 30-year Mortgage Rates Hit Record Low; First Recorded Decline in Online Holiday Shopping; UBS Offloads Bank of China Stake With inflation easing, China has lifted temporary inflation controls on key commodities such as liquefied petroleum gas, power-station coal, grains and cooking oil. Ten months ago, China […]
Bank of America, Wells Fargo and PNC End 2008 by Closing Major Buyout Deals
By William Patalon III Executive Editor Money Morning/The Money Map Report Three major U.S. banking deals were completed last week, enabling the buyers to finalize their deals before 2008 came to a close. The first two deals were completed Thursday, the last day of the year. Bank of America Corp. (BAC) completed its purchase of […]