Sun 2008-11-23 00:00 EST

Joe Bageant: Sarah Palin is the Future of Conservatism

by Anonymous Political Consultant John Brown; ``In a system, which is entering a period of semi-permanent crisis, to plant oneself or one's party in its political center is to make yourself responsible for a political system which is forever failing, losing legitimacy and eventually its right to rule. In the long run, the future will belong to whichever political force flies the boldest flags, stands credibly far enough from those who will be held accountable for our troubles, and curses the loudest at the coming darkness.''

Conservatism; future; Joe Bageant; Sarah Palin.

Fri 2008-11-07 00:00 EST

SSRN-Looting: The Economic Underworld of Bankruptcy for Profit by George Akerlof, Paul Romer

(1994); ``Bankruptcy for profit will occur if poor accounting, lax regulation, or low penalties for abuse give owners an incentive to pay themselves more than their firms are worth and then default on their debt obligations.''

bankruptcy; Economic Underworld; George Akerlof; Paul Romer; profits; SSRN-Looting.

Tue 2008-10-07 00:00 EDT

naked capitalism: Goal of Paulson Plan: Restore Mark-to-Myth Accounting

goal; Myth Accounting; naked capitalism; Paulson plans; Restore Mark.

Tue 2008-10-07 00:00 EDT

James Grant - Bad Medicine

(Washington Post); ``Low interest rates, easy money and malleable accounting rules are what plunged Wall Street into crisis. Yet it is low interest rates, easy money and malleable accounting rules that top the list of federal fixes''

Bad Medicine; James Grant.

Tue 2008-08-26 00:00 EDT

The End of the Beginning -- Developments in the Credit Crisis

The End of the Beginning - Developments in the Credit Crisis, by Satyajit Das (Prudent Bear); 2008-05-27; ``limited recognition of the massive de-leveraging of the global financial system that is under way.'' ``The banking systems ability to supply credit is significantly impaired and will remain so for the foreseeable future.'' ``Changes in financial markets will have a significant impact on many companies that now rely on financial engineering rather than real engineering'' Das proposes: ``holdings and values of risky assets held by banks and investment banks must be accurately determined...Risky assets must be valued on a hold-to-maturity basis...Mark-to-market accounting should be suspended...Capital levels should be set on a bank-by-bank basis by regulators...Capital requirements should be eased...government [should] guarantee of all major bank liabilities''

Begins; credit crisis; develop; ending.

Thu 2008-07-17 00:00 EDT

naked capitalism: Phony Accounting on Fannie, Freddie Rescue Legislation

Fannie; Freddie Rescue Legislation; naked capitalism; Phony Accounting.

Tue 2008-05-27 00:00 EDT

Mish's Global Economic Trend Analysis: Alice-in-Wonderland Accounting

hiding dodgy assets

Alice; Mish's Global Economic Trend Analysis; Wonderland Accounting.

Fri 2008-05-16 00:00 EDT

Calculated Risk: On Freddie Mac Accounting Change

Freddie Mac increases Level 3 assets to 23% of total assets; Freddie Mac reports negative net assets

Calculated Risk; Freddie Mac Accounting Change.

Sat 2008-04-19 00:00 EDT

Mish's Global Economic Trend Analysis: Digging Into Citigroup's Numbers

Citigroup's financial condition continues to deteriorate; Citigroup using accounting tricks to hide deteriorating financial condition

Citigroup's Numbers; digging; Mish's Global Economic Trend Analysis.

Wed 2008-04-16 00:00 EDT

Institutional Risk Analytics

Large OTC Markets + Excessive Leverage + Fair Value Accounting = Systemic Risk, by The Institutional Risk Analyst; FAS 157; JPMorgan "an uncapitalized, $76 trillion OTC derivatives exchange with a $1.3 trillion asset bank appendage"

Institutional Risk Analytics.

Wed 2008-03-26 00:00 EDT

Winter (Economic & Market) Watch >> Rebuttal of GaveKal's Bully ``Wealth & Platform Theory''

Winter (Economic & Market) Watch >> Rebuttal of GaveKal's Bully "Wealth & Platform Theory"; platform companies "outsource American jobs to safe production locales like China and Thailand, who then pollute the global environment and fail to account for the negative externalities (true costs) of their production...the peculiar slash and burn notion that the US can just eat its young by outsourcing jobs to foreign polluters, while failing to invest in capex and just merrily borrowing from foreigners against its Bubble induced wealth."; 2006-12-26

economic; GaveKal's Bully; Market; Platform Theory; Rebuttal; watch; wealth; winter.

Tue 2008-02-12 00:00 EST

The Wall Street Examiner >> Fed Eunuchs Reveal True Selves In Technicolor

by Lee Adler; "Fed has aggressively collapsed the size of the System Open Market Account...to withdraw billions of dollars of what is, in essence, margin buying power from the trading accounts of the Primary Dealers"

Feds Eunuchs Reveals True Selves; Technicolor; Wall Street Examiner.

Tue 2008-02-12 00:00 EST

Market Ticker: The Most Important Ticker You Will Read This Year - UPDATED

Market Ticker: The Most Important Ticker You Will Read This Year; "Fed has been aggressively draining the SOMA account, with the pace of that drainage stepping up precipitously since December"

Important Ticker; Market Ticker; reads; Update; years.

Tue 2007-11-27 00:00 EST

Calculated Risk: SIV Accounting

Calculated Risk; SIV Accounting.

Fri 2007-10-19 00:00 EDT

Mish's Global Economic Trend Analysis: Enron Accounting at Citigroup

(sponsored by the Treasury)

Citigroup; Enron accountant; Mish's Global Economic Trend Analysis.

Fri 2007-09-14 00:00 EDT

Heard on the Street - WSJ.com

Marking Down Wall Street, by David Reilly; mark-to-model, mark-to-make-believe accounting rules

com; Heard; Street; WSJ.