Archives for “News”

Now I actually like Sheila Bair better than just about anyone else at the Treasury, FED and FDIC combined, but the talking points on this ...

Time machine posts come from my cache of articles related to the Great Unwind, and are pretty fascinating look back at where we've been during ...

Via WallStreetWatch.org: The financial sector invested more than $5 billion in political influence purchasing in Washington over the past decade, with as many as 3,000 lobbyists ...

In a sign of what may be the future for more than one former Eastern Block nation, Latvia has defaulted after a week of rumors ...

Sad news today as Tanta, of Calculated Risk fame, has passed on.  We have lost one of the best and brightest voices in the wilderness, ...

As the crisis in the US deepens, we hear frighteningly little analysis of the geopolitical fallout of credit destruction. Naked Capitalism's Yves Smith reminds ...

“Let me issue and control a nation’s money, and I care not who writes its laws.” -Nathan Rothschild, 1838 We are being robbed blind.  Yes, the ...

There's a myriad of causes at the heart of this crisis, from mortgage and appraisal fraud, to CDO squared derivatives, to rating agency and monoline ...

Another bloodbath day for the DOW, which is off 20% from its pre-bailout peak, along with the S&P 500, which is off 40% (and Gold ...

This morning I watched this excellent panel discussion with Nouriel Roubini, Brad Setser and Benn Steil. A can't miss macro-discussion of the current ...

At $45 trillion, the notional amount of CDS in existence is now fast approaching the total amount of credit market debt outstanding in the entire ...

Now that the Senate has passed a boated and, absent raising the FDIC insurance limit- materially indistinguishable bill from the one that the House voted ...

From Calculated Risk: It now looks like the National Debt will be over $10 Trillion tomorrow. As of Sept 29th, the debt was $9,945,578,231,981.59 The surge in the ...

Wow, just wow!  Hopefully they will stay in Washington and implement a plan that has a chance in hell of working. This is a rare victory ...

So far, the revised Paulson Plan looks very bad. Suspends mark-to-market pricing (not surprising, as it would BK many banks), allows banks to maintain ...

It is getting difficult to find this picture anymore: From a press conference held on June 3, 2003 — Pictured are Bush Administration officials from ...

Please read this, Petition: Economists against the Paulson Bailout Plan.

"How can we bailout Lehman without the public knowing about it?"  That's about the gist of the current thinking behind Bernanke & Paulson's latest scheming ...

Here's a great historical chart showing the DOW movements against the FED and Treasury interventions over the course of this crisis, good read (PDF): ...

Republican senator (and former Phillies Pitcher!) Jim Bunning calls for the resignations of Treasury Secretary Paulson and Federal Reserve Board Chairman Ben Bernanke. We no longer ...

Opining on the news of the Fannie Mae / Freddie Mac seizures by the Treasury Department, both Presidential candidates, as well as President Bush have ...

That is the sound of your party pilfering our bank accounts (socializing the losses), to pay for their bad investments. In the last twelve ...

Friday, after markets closed, word leaked that the Treasury will announce plans to nationalize Fannie and Freddie in the largest private bailout in our nation's ...

From The Economist: The FDIC will soon have to replenish its deposit-insurance fund, which collects premiums from banks and stood at around $53 billion before the ...

Here's an interesting commentary on how the FED is allowing highly leveraged trades of Fannie Mae & Freddie Mac bonds for hard cash from the ...