Monthly Archives: April 2008

Links May Day 2008

Criminals try to ‘copyright’ malware PhysOrg Next decade ‘may see no warming’ BBC Nuclear’s CO2 cost ‘will climb’ BBC Where Are They? Why I hope the search for extraterrestrial life finds nothing MIT Technology Review Pricing power: signal versus noise Tim Price McCain’s Health Care Plan: Why It’s Another Dumb Idea Robert Reich Republicans Plan […]

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Fed Weighs Increasing Term Auction Facility Yet Again

When the Fed’s innovation, the Term Auction Facility, which is in effect an improved discount window, was implemented last December, its size was $40 billion, which was considered extraordinary, a sign of how desperation conditions in the money markets were. Now that several increased put the facility is $100 billion, the banking community and the […]

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Quelle Surprise! Bush Homeowner Rescue Program Falls Short of Low Expectatios

Last year, we were less than impressed with Bush’s tightly bounded but widely touted plan to use the FHA, a traditional source of financing to low and middle income borrowers, to help salvage homeowners at risk of begin dispossessed. Note we have doubts about “rescue debtor” operations. Iin many cases, these borrowers had little to […]

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Martin Wolf on Reforming Agriculture

In a bit of synchronicity, food worries are getting prominent billing tonight in the media. The Financial Times” Martin Wolf sketches out some dimensions of snowballing agricultural problems and possible solutions. Wolf’s piece endeavors to cover a lot of ground, which means of necessity it gives short shrift to depth. It touches on the central […]

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Foreclosures Hitting Rentals Too

Thanks for your patience. Still in LA at the Milken Conference (I feel like I have been parachuted into a Pasadena Republican/Chicago School of Economics parallel universe, although I have managed to find some fellow apostates. If I spent enough time here, I might be brainwashed (social assent is very powerful). Thus I hope you […]

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Larry Summers Disingenuous Discussion of Free Trade

Larry Summers, in “America needs to make a new case for trade,” worries, as do many others, about rising protectionist sentiments: In a world where Americans can legitimately doubt whether the success of the global economy is good for them, it will be In a world where Americans can legitimately doubt whether the success of […]

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Quelle Surprise! Real Estate Lenders Fight Tough Rules

The New York Times, in “Loan Industry Fighting Rules on Mortgages,” tells us that the real estate creditors are fighting tooth and nail to gut new rules that the Fed intends to impose. The Times, apparently reflecting the sentiment of sources in the Fed, Capitol Hill, and consumer advocates, seems surprised at the vehemence of […]

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Real Estate Porn

Note: Regular readers will recognize this submissoin. We got a very good response last time, both domestically and abroad, and real estate professionals recommended continued exposure. Rest assured that this is NOT crowding out other posts! And for those new to it, enjoy! In a departure from our usual programming, I thought I would introduce […]

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Jeremy Grantham: "Immoral Hazard" and the Loss of Standards

I believe in synchronicity, so I found it noteworthy that I came across two articles that gave great prominence to the issue of values, one Jeremy Grantham’s April newsletter, “Immoral Hazard,” the other a post by Willem Buiter on, of all things, the Olympics. Grantham’s excellent piece is unfortunately too long to present in full; […]

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