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Market Currents (Saturday, December 13, 2008)
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  • 7:36 PM Even if GM (GM) is too big to fail, the threat of bankruptcy, or even downsizing, has potential customers looking elsewhere. 7 Comments
  • 6:09 PM "The economy will be in chaos within weeks," Automotive Consulting Group's Dennis Virag says of a GM or Chrysler bankruptcy, which he argues will initiate a "cascade of failures." 4 Comments
  • 3:21 PM Santander (STD) has more than €3B exposure to the Madoff hedge-fund fraud. (source) 2 Comments
  • 3:17 PM Citadel is the latest firm to halt withdrawals after investors request $1.2B from its two biggest funds - on the heels of a 49.5% loss YTD. 2 Comments
  • 3:09 PM GM (GM) chief Wagoner speaks with White House Chief of Staff Joshua Bolten and Treasury Secretary Henry Paulson about a short-term plan to keep the automaker solvent. Comment!
  • 2:17 PM The Fed refuses to grant Bloomberg News's request to disclose the recipients of more than $2T of emergency loans from U.S. taxpayers and the assets it's accepting as collateral. "If they told us what they held, we would know the potential losses that the government may take, and that’s what they don’t want us to know." 6 Comments
  • 2:09 PM Siemens (SI) will pay an $800M fine to U.S. authorities to settle bribery charges, an unnamed board member says. The German engineering giant is close to settling with German authorities, and will likely face a similar fine at home. Comment!
  • 10:00 AM Loopy rumor du jour: Would Google (GOOG) buy the New York Times (NYT)? 2 Comments
  • 9:43 AM The latest long list of Madoff victims. 1 Comment