16 Jul '11, 6pm

Fed reveals Goldman borrowing deals during crisis How many politicians made $ on this sweet deal?

NEW YORK - WANT to borrow US$15 billion (S$18.4 billion) for a month at the rock-bottom interest rate of 1.16 per cent? You can - but only if you're Goldman Sachs and your generous sugar daddy is the US government. The US Federal Reserve released data on Wednesday on the emergency borrowing of big banks during the financial crisis, confirming the extent to which Goldman Sachs and other titans of Wall Street were in dire need of cash in late 2008. The data show that Goldman Sachs borrowed more than US$53 billion under a Fed emergency-lending programme that lasted from March to December 2008, allowing banks to borrow at ultra-low rates for up to 28 days. Other major beneficiaries of the programme included RBS Securities, the Royal Bank of Scotland's US-based broker, which borrowed about US$70 billion; and Switzerland's UBS Securities, which borrowed more than $US56 billion. ...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

Tweets

Can 'super-bees' solve the world's food crisis?

care2.com 16 Jul '11, 1pm

Although I can see the validity of this research, I only see it as a short term, limited bandage on the bee crisis. There ...

Yahoo! Koprol reveals new UI features by @goudo...

e27.sg 15 Jul '11, 7am

Hello there! If you are new here, you might want to subscribe to the RSS feed for updates on this topic. Powered by WP Gre...

Ratings agencies under attack amid eurozone deb...

channelnewsasia.com 17 Jul '11, 5am

PARIS: Ratings agencies are again under attack, with EU leaders objecting that Standard&Poor's, Moody's and Fitch Ratings ...