naked capitalism Tue 2009-09-01 19:06 EDT

More Bogus Bailout Reporting: ``As Big Banks Repay Bailout Money, U.S. Sees a Profit''

Clearly, the spin is in...The fact that we have such patent garbage running as a front page New York Times story says either the reporter and his editors lack the ability to think critically (or find sources who could do that for them) or that we have a controlled press. Bogus NYT reporting.

Big Banks Repay Bailout Money; Bogus Bailout Reporting; naked capitalism; profits; U.S. Sees.

The Guardian World News Sun 2009-08-30 14:43 EDT

Iceland votes to repay UK savings

Iceland's parliament today approved a plan to repay Britain and the Netherlands £3.4bn they used to compensate depositors after the collapse of an Icelandic bank. Johanna Sigurdardottir, the prime minister, said the "Icesave" bill was an important step in her country's economic recovery, paving the way for it to receive financial help from the International Monetary Fund and other countries and keeping open the option to join the EU. "It's obviously best for all three nations to reach an amicable agreement on this for it is in no one's interest to see Iceland economically unable to meet its obligations," Sigurdardottir told Reuters after the vote, which followed an acrimonious national debate. Critics objected to paying for mistakes made by private banks under the watch of other governments and for...

Guardian World News; Iceland votes; repay UK savings.

Rick Bookstaber Sun 2009-08-30 12:07 EDT

Not with a Bang but a Whimper -- The Risk from High Frequency and Algorithmic Trading

Rick Bookstaber

``There is a general view that one way or another the end result of all the high frequency and algorithmic trading will be a blowup. But I don't think the risk is as big as many are making it out to be...the risk of a cataclysm is constrained by the lack of feedback and lack of tight coupling...As the field gets increasingly crowded, market impact will rise and opportunities will diminish'' First, let me point out the difference between high frequency trading and algorithmic trading. Both execute using computers, and since computers work really fast, both can be accused of whatever sins are embodied in millisecond trading. High frequency trading is a type of proprietary trading. The trader (or his computer) sees a profit opportunity and trades accordingly. This profit opportunity...

algorithmic trading; bang; High Frequency; Rick Bookstaber; Risk; Whimper.

The IRA Analyst Wed 2009-08-26 15:50 EDT

Washington Fiddles as Global Deflation Rages

The surprise facing Geithner, Bernanke et al is that by Q3, the true economic deterioration in many toxic assets will be clear for all to see. ``whatever relief that financial institutions and other residents of the hold-to-maturity world believe that they will receive through the modification of fair-value accounting and other official dispensation, they will lose through deteriorating economic fundamentals and falling cash flows supporting these assets as 2009 unfolds.''

Global Deflation Rages; IRA Analyst; Washington fiddles.

Tue 2009-06-16 00:00 EDT

naked capitalism: Guest Post: The Imminent Disinformation Schism

``naive, easily-manipulated, small-time mom and pop investors, who only care about looking at their daily yahoo finance screens and 401(k) statements...and the forward looking taxpayers, who see the upcoming budget deficit fiasco, the social security ponzi scheme, the Medicare/Medicaid debacle, the ridiculous underfunding in public and corporate pension funds, the rising city and state taxes, the shuttering factories, the rising unemployment, the plummeting American production base, the "seasonally" upward-adjusted economic data coupled with consistently downward revised prior economic releases, the increasing savings rate and the multi trillion discrepancy in consumer purchasing power.'' Time contributing author Douglas McIntyre declares end to 2008 banking crisis

Guest Post; Imminent Disinformation Schism; naked capitalism.

Tue 2009-04-21 00:00 EDT

Jesse's Café Américain: Mr. Pot Calling Mr. Kettle. Mr. Pot Calling Mr. Kettle.

Jesse's Café Américain: Mr. Pot Calling Mr. Kettle. Mr. Pot Calling Mr. Kettle.; Blackstone CEO Steve Schwarzman blames rating agencies; ``The destruction of the real wealth was in the bubble when the middle class was systematically destroyed. This is just the settling of accounts. What we are seeing now is the paint peeling off the rotten economy which the financiers created for their personal benefit.''

Jesse's Café Américain; Mr. Pot Calling Mr. Kettle.

Tue 2009-02-24 00:00 EST

Jesse's Café Américain: Inflation v. Deflation and the Yield Curve: Jesse's Lifetime Trading Plan

Jesse's Café Américain: Inflation versus Deflation and the Yield Curve: Jesse's Lifetime Trading Plan; ``we could see short term rates spike up to 15 to 20 percent with much of the longer yield curve at 12+%''

deflation; Inflation; Jesse's Café Américain; Jesse's Lifetime Trading Plan; yield curve.

Thu 2009-01-15 00:00 EST

The Institutional Risk Analyst: On the Prime Solution: Interview with Eric Hovde

The Prime Solution: Interview with Eric Hovde, by The Institutional Risk Analyst (IRA); ``he manifest statist, anti-market tendencies of Ben Bernanke and Tim Geithner should disqualify both of these men from future roles in the economic rebuilding effort''; FICO demise predicted; ``There isn't going to be any [real estate] development in New York once the current projects are complete. Nothing.''; Bear, AIG should all have been put into bankruptcy; ``the same economic team that lit this fuse and let this fuse go 12 years ago is now about to come back into power...It is stunning to me that we are not seeing a wholesale switch-out of these Goldman Sachs participants or their protégés''

Eric Hovde; Institutional Risk Analyst; interview; Prime Solution.

Mon 2008-12-08 00:00 EST

Looming Inflation a Matter of Fact, or Faith? | The Wall Street Examiner

``I dont think its prudent to automatically assume that any of this will result in inflation at any time in the forseeable future. We remain in a deflationary debt collapse, and until I see evidence that this slide is beginning to reverse, I want no part of any major committment to an inflation trade''

fact; Faithful; Looming Inflation; matter; Wall Street Examiner.

Thu 2008-11-13 00:00 EST

Mish's Global Economic Trend Analysis: Strange Case of Falling International Reserves Explored

``Expect to see a narrowing of the reported trade deficit from ~7% to 2% or less of GDP (now at slightly less than 5%).''

Falling International Reserves Explored; Mish's Global Economic Trend Analysis; strange case.

Fri 2008-11-07 00:00 EST

Mish's Global Economic Trend Analysis: Where Are Food Prices Headed?

2008-10-17; ``Judging from a broad basket of commodity prices, we are likely to see declining prices at the grocery stores in the weeks or months ahead''

Food Prices Headed; Mish's Global Economic Trend Analysis.

Fri 2008-11-07 00:00 EST

Jesse's Café Américain: Marc Faber Sees Bankruptcy for the US

Jesse's Café Américain: Marc Faber Sees Bankruptcy for the US

Jesse's Café Américain; Marc Faber Sees Bankruptcy.

Mon 2008-08-04 00:00 EDT

Is the U.S. Banking System Safe? - Seeking Alpha

Is the U.S. Banking System Safe? by James Quinn - Seeking Alpha; "The U.S. banking system is essentially insolvent. The Treasury, Federal Reserve, FASB, and Congress are colluding to keep the American public in the dark for as long as possible...When you see a bank CEO or a top government official tell you that everything is alright, run for the hills. They are lying."

Seeking Alpha; U.S. Banking System Safe.

Wed 2008-05-14 00:00 EDT

Jesse's Café Américain: Bank of America Sees Higher Losses; Banks Have "Enormous Unrecognized Losses"

Jesse's Café Américain: Bank of America Sees Higher Losses; Banks Have "Enormous Unrecognized Losses"

America Sees Higher Losses; bank; Enormous Unrecognized Losses; Jesse's Café Américain.

Thu 2008-05-08 00:00 EDT

Mish's Global Economic Trend Analysis: U.S. Sees First Sales Tax Revenue Drop in 6 Years

6 years; Mish's Global Economic Trend Analysis; Sales Tax Revenue Drop; U.S. Sees.

Wed 2007-12-19 00:00 EST

LA Weekly

- Matt Taibbi on How the U.S. Is Like Ike Turner - The Essential Online Resource for Los Angeles; "you don't see...the money process that goes on behind the scenes"; "The people in our government are so corrupt and so interested in doing favors that they cant even respond to an emergency anymore, like Katrina or like Iraq." [or credit implosion]

LA Weekly.