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November 4, 2008
Hands-Up If You’re Not on Paulson’s List?
With news tonight that Treasury is once again looking at expanding the list of companies in which it takes equity stakes, I have to confess to shaking my head a little. According to the WSJ, Treasury is mulling taking stakes in “bond insurers and specialty finance firms such as General Electric Co.'s GE Capital unit, CIT Group Inc. and others”.
So, now it’s banks, insurance firms, bond insurers, and miscellaneous finance firms. With auto companies almost certain to get bailed out eventually, remind me again who’s not on the list.
More here.
As an aside, the piece also tips that Paulson has now largely abandoned the original TARP toxic auction scheme in favor of equity injections and, to a much lesser degree, direct asset purchases.
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