Federal Reserve Bank (FED) and White House become little Panic (Big Panic) about the American Financial situation. But the good news, Storm in American Economic has no big effect to their politic, it indicates that American has already opened their mind and has already become the settle states, if we compare with Indonesia, when Crisis Strom attacked in 1998; Economic Panic has multidimensional effect to politics. So we don’t find a demo in America about their politic, about government policy in economic.
Back to topic!
Today, any news showed and told about wall street and financial in large company in America. Some of them run bankrupt, show the minus trend in their balance sheet, try to find new buyer and some of them going to merge. I don’t know (maybe I didn’t heard the news before) about the $700 million white house proposal to congress was deal or not. Once deal, this is world history.
NYTimes.com has accurate analysis and put in box chart to understand that there are 29 companies are hard hit from the financial crisis; started by Credit crunch some couple months before. The 29 big companies, WaMu is the worst. WaMu show negative Market Capitalization more than 90 percent in their market capitalization from $31.1 billion in October 2007 to $ 2.1 billion in September this year. Very hard hit!
Freddie Mac, taken over by government become of poor performance and shows 99.3 percent in their market capitalization. Both WaMu and Freddie fall because of bad credit in mortgages and loans. The report shows that in September 2008 Freddie Mac only out $ 0.3 billion of their market capitalization or declined 99.3 percent in October 2007 around $41.5 billion.
Countrywide financial run to bankrupt, biggest and largest mortgage financial shows $0 in their market capitalization in their report. It was brought by Bank of America in June but no helpless and gone to collapse.
American International Group, Insurance Worldwide Company also wrote off $32.3 billion in September this year or decline 82 percent of their market capitalization from $ 179.8 billion in October last year, but their worldwide branch claimed and conference that their costumers is save and need not to worry about their condition. They said, the problem only attacked their central AIG in America. Read more »
Tags: AIG, Freddie Mac, Hard Hit Company, JPMorgan Chase & Co, Lehman Brother, Market Capitalization
