Professor Elam
Accounting & Investing Info for San Antonio A & M
about
Category: Financial Acct
-
A Bloomberg reporter tackles HR 4173. Surprise, Barney Frank's reform legislation promises banks up to $4 trillion in bailouts available, creates lots of new agencies, and runs some 1200 pages. Bottom line, congress will continue to throw money at the problem before it lets anyone face up to the problems they have created.
-
San Antonio Charter Schools were found lacking by the US Education Dept. the Texas Education Agency, and a local CPA firm needed a year to complete what should have been a three month audit. If this was a private company would it still be in business? Or would the Board be replaced? Why do these…
-
US firms have had the largest dividend cuts since the 1930s. NOw think what this means for stock prices. Yields therefore, dividend divided by stock prices have dropped. For yields to return to 'normal' levels, either dividends will have to be restored or prices will have to drop. As stock prices have risen, price earnings…
-
Wednesday Dec 23 2009 Banks got a reprieve from raising more capital to offset, well read the article and you tell me what they are offsetting. The fact is that the banks need more capital and have instead questionable assets. The FDIC has granted more time but not the three years requested to implement new…
-
Tuesday Dec 22, 2009 Pension plans helped sink GM and are now doing the same to YRC. YRC is the remnant of Yellow Freight and Roadway, now drowning in debt, and pension obligations. Seems that the surviving company is on the hook for all the laid off Teamster drivers of failed companies. Mish Shedlock takes…
-
Pittsburgh's City Council is proposing a 1% tax on the have nots, the city's college students, to fund the pensions of retired city employees. It is brazenly called the Fair Share Tax. And it is referred to as 'an untapped revenue source.' Let's follow the logic here. The City makes promises to city union employees that…
-
President Obama is to meet with 'fact cat bankers who caused the problems' (his phrase not mine). Yet two days ago we noted he has loaded his administration with CITI and Goldmand types who did what he is saying. The idea that Larry Summers is criticizing Wall Street is rather like the mob organizing a…
-
Monday Dec 14 2009 A WSJ article this weekend reveals the extent of Goldman's causing AIG to assume more and more risk in insuring default swaps. This adds to the evidence that Goldman will be blamed when the next meltdown in markets occurs.
-
THE TREASURY COULD NET $1 billion to $1.2 billion from the sale today of warrants on shares of JPMorgan Chase (ticker: JPM) that it received as part of the government's TARP investment in the New York bank, derivative traders tell Barron's. The 88.4 million warrants, which carry a strike price of $42.42 and a maturity date in nine years…
-
A Rolling Stone article takes a look at the more cozy than you would imagine deals already cut to keep zombie banks alive. Warning, extensive use of graphic language, you may find yourself using same as you read the article. Also a good look at how derivatives came to be front and center.
Professor Elam 