Tag Archives: US Treasury

News that Moves: US Treasury to Backstop Munis?!?!

FT – The US Treasury would provide a backstop to stricken states like California, which are struggling to raise debt, under legislation due to be introduced to Congress. Proposals published on Thursday would see the Treasury acting as a reinsurer in the market and the Federal Reserve setting up bond purchase agreements, which were commonly provided by banks until the […]

News that Moves: Mark-to-Market Accting., The PPT, US Tres. Plans Record Debt Sale, US Tres. Default Bet Surge, State Budget Troubles, BofA CEO Lewis

NEW YORK (Reuters) – Stocks extended gains on Thursday as shares of financial services companies sharply cut losses on talk that Washington’s rescue plan for banks may include suspension of a key accounting rule mark-to-market accounting, traders said. (RCM Comment: For the record, we believe the mark-to-market issue is complete and utter nonsense and will be disastrous if passed. It […]