Jesse's Café Américain Fri 2009-09-04 18:58 EDT

Stiglitz on the Financial Crisis

Jesse

Joe Stiglitz describes the current financial crisis and prospective recovery quite well, and the conclusions he draws are remarkably similar to our own which is gratifying. It's good to hear these things from a distinguished Nobel laureate, and not just from your humble Propriétaire, while puttering over his daily bread. Bloomberg Stiglitz Says U.S. Economic Recovery May Not Be `Sustainable' By Michael McKee Sept. 4 (Bloomberg) -- The U.S. economy faces a ``significant chance'' of contracting again after emerging from its worst recession since the 1930s, Nobel Prize-winning economist Joseph Stiglitz said. ``It's not clear that the U.S. is recovering in a sustainable way,'' Stiglitz, a Columbia University professor, told reporters yesterday in New York.

Financial Crisis; Jesse's Café Américain; Stiglitz.

Bruce Krasting Fri 2009-09-04 18:29 EDT

FHFA Report on Restructurings -- Everything is Going Fine

Bruce Krasting

The FHFA released a report on their refinancing activity for the year to date. As usual it was cast in glowing terms. It is clear that FHFA is doing something. In my view that `something' is consistently the wrong thing...No private lender in their right mind would make a 125% loan. These are just losses to be. The FHFA is perpetuating the cycle of default. They are making things worse, not better...No single entity should have this much exposure to the credit market. It defines systemic risk.

Bruce Krasting; FHFA reported; going fine; restructuring.

Jesse's Café Américain Sun 2009-08-30 12:00 EDT

A Run On the Funds: Majority of Cerberus Investors Want Out -- Now

Jesse

When investors or depositors ask for the immediate withdrawal of 71% of their money there is only one thing to call it: a run on the bank.The selling in the markets is still quiet, and overshadowed by some of the visible bubbles in financial assets and rosy headlines. The bank bailouts are working, but only to produce a false Spring to lure in the last of the greater fools.

Cerberus Investors Want; funds; Jesse's Café Américain; major; running.

Jesse's Café Américain Thu 2009-08-27 10:45 EDT

'New Deal for Wall Street' Programs Subsidizing Subprime Lenders

Jesse

Welfare for Wall Street is just another phase of the 'trickle down' approach that seems to be so popular with the financerati. If "Cash for Clunkers" had involved subsidized loans for cars administered by the banks it would have been touted as the greatest thing since sliced bread by the coporate media and mainstream infomercials, instead of being slammed on a daily basis as a troubled, pointless giveaway program.

Jesse's Café Américain; new deal; Programs Subsidizing Subprime Lenders; Wall Street.

The IRA Analyst Thu 2009-07-30 00:00 EDT

The Institutional Risk Analyst: Kabuki on the Potomac: Reforming Credit Default Swaps and OTC Derivatives

-- he Masters of the Universe who run the largest Wall Street firms of have learned not a thing when it comes to credit default swaps ("CDS") and other types of high-risk financial engineering. Indeed, not only are the largest derivative dealers fighting efforts to reform the CDS and other derivative instruments that caused the AIG fiasco, but regulators like the Federal Reserve Board and US Treasury are working with the banks to ensure that a small group of dealers increase their monopoly over the business of over-the-counter ("OTC") derivatives.''

Institutional Risk Analyst; IRA Analyst; Kabuki; OTC derivative; Potomac; Reforming Credit Default Swaps.

Tue 2009-04-21 00:00 EDT

Newsweek's Fearful Krugman Profile - Finance Blog - Ryan Avent - Market Movers - Portfolio.com

by Felix Salmon; ``No one is quoted saying a single nice thing about Krugman's economics or his opinions.''

com; financing blog; Market Movers; Newsweek's Fearful Krugman Profile; portfolio; Ryan Avent.

Mon 2009-04-06 00:00 EDT

Bill Moyers Journal . Transcripts | PBS

ex-banking regulator William K. Black calls fraud: ``make really bad loans, because they pay better. Then you grow extremely rapidly, in other words, you're a Ponzi-like scheme. And the third thing you do is we call it leverage. That just means borrowing a lot of money, and the combination creates a situation where you have guaranteed record profits in the early years. That makes you rich, through the bonuses that modern executive compensation has produced. It also makes it inevitable that there's going to be a disaster down the road.''

Bill Moyers Journal; PBS; Transcript.

Thu 2009-01-15 00:00 EST

Just when you thought things couldn't get any worse | The Smirking Chimp

Just when you thought things couldn't get any worse, by Mike Whitney | The Smirking Chimp; deflation, market failure, and government bungling

just; Smirking Chimp; thought things; worse.

Fri 2008-12-12 00:00 EST

AlterNet: Chomsky: Is There Truth in Obama's Advertising?

AlterNet: Noam Chomsky: Is There Truth in Obama's Advertising? ``what's happened to the country...is that there was extensive and very constructive activism in the 1960s...And the activism did civilize the country''; Tom Ferguson's investment theory of politics; Brand Obama; ``The goal of advertising is to create uninformed consumers who will make irrational choices...And when they turn to selling a candidate they do the same thing...So you undermine democracy pretty much the same way you undermine markets.''

AlterNet; Chomsky; Obama's Advertising; truth.

Fri 2008-11-07 00:00 EST

Hussman Funds - Weekly Market Comment: July 10, 2006 - There's No Such Thing as Idle Cash on the Sidelines

2006-07-10

2006; Hussman Funds; Idle Cash; July 10; s; sidelined; thing; weekly market comments.

Sun 2008-09-28 00:00 EDT

The scariest thing about Sarah Palin isn't how unqualified she is - it's what her candidacy says about America

Mad Dog Palin: by Matt Taibbi; ``like watching Gidget address the Reichstag''

America; candidacy says; Sarah Palin; Scariest things; unqualified.

Thu 2008-07-17 00:00 EDT

The Institutional Risk Analyst: Time for Hank Paulson to Do the Right Thing and Nationalize the GSEs

Time for Hank Paulson to Do the Right Thing and Nationalize the GSEs

GSEs; Hank Paulson; Institutional Risk Analyst; nation; right thing; Time.

Thu 2008-07-03 00:00 EDT

The Necessary War by William S. Lind

The Necessary War, by William S. Lind; reviews Pat Buchanan's "Churchill, Hitler, and the Unecessary War"; demolishing Churchill; "n both World Wars, the U.S. came out a winner because it left most of the fighting to others." "Debunking comic-book history and replacing it with the real thing is vital if America is to avoid the dual trap of cultural Marxism and Brave New World."

necessary war; William S. Lind.

Sat 2008-05-17 00:00 EDT

Minyanville -

NEWS & VIEWS-Five Things You Need to Know: The Inflation Hysteria, by Kevin Depew; "Today's 'inflation' is illusory. It is the tail end of the Federal Reserve's mirage of economic production; credit creation."

Minyanville.

Mon 2007-12-10 00:00 EST

Calculated Risk: Ten things to know about the Freeze

Paulson mortgage plan facts

Calculated Risk; freeze; know; thing.

Fri 2007-11-30 00:00 EST

Five Things You Need to Know: Why Should You Care About LIBOR?; Risk Aversion Leads to Risk Aversion: Financial News - Yahoo!

Five Things You Need to Know: Why Should You Care About LIBOR?; Risk Aversion Leads to Risk Aversion, by Kevin Depew (minyanvill); watching LIBOR; banks hoarding cash, reluctant to lend (2007-11-16)

care; financial News; know; LIBOR; needed; risk aversion; Risk Aversion Leads; thing; Yahoo.