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Saturday, February 7, 2009

(Friday's) FT front page roundup: Because I Fell Asleep Had a Hot Date Edition

Obama's bank rescue package, which changes by the day, apparently, is likely to focus on another wave of recapitalization by converting government preference shares in banks, which are a debt/equity hybrid, into regular shares, which are more fun. An insurance scheme and a small 'bad bank' are also likely to play a role. The only way these makes sense is that they're anything but nationalization.

Useless Republicans are still whining that their non-stimulative things aren't in the stimulus bill. Cry me a river, losers, that I may build a bridge over it.

Um, the European Central Bank left rates on hold. I cant find the words to convey how dumb this is. So I'll let this guy do it.

Josef Ackermann, head of Deutsche Bank, is excited that Barack Obama's pay limits for executives who take bailout money will encourage them to flee to Europe, where they can lose money for his bank.

And, finally some good news, Rupert Murdoch is way poorer!

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