Taxes will soar in credit crisis Times Online
Weekend Special: Financial Poetry by Popular Demand Macro Man
Potentially more toxic than sub-prime: the £6.6bn of ‘Alt-A’ that spooked HBOS investors Independent
The housing meltdown: Why did it happen in the US? Menzie Chinn
Oppose The Treasury’s Bailout Plan David Merkel
Ambac Setback Scurvon Investing. In case you’ve been too distracted by the bailout headlines to notice this one….
Truth & Reconciliation Steve Waldman
Sorry to have been thin on links the last two nights. I have had huge Internet problems that will not be resolved until Monday at best. Broadband modem not synching, no cellphone signal here (yes, Virginia, there are places in the US, even some very nice ones, with no cellphone access), so I am mooching off an open access point with a pretty erratic signal.
Antidote du jour:
6 comments
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Dear Yves:
In UAE (and Doha, Kuwait Muscat) We had markets rejoice today as the $700 bn plan got unveiled,
we had short selling in UAE; players part of it have been dissuaded from doing so.
I dont like the response of the markets arent we closing our eyes to impact on dollar atleast for GCC countries….
I am not finding any analysis of the plan. If you find some would post it on your site.
thanks a ton.
Like your site, I visit it daily.
regards:
gsmani@gmail.com
Hang in there, Yves; you are our window on a clearer view of the world. This coming week will be a wild one, so I hope we’re rested and ready. . . . Do you get _any_ sleep these days?? Best for now.
All strength to your arm, madam. Keep up the good work.
With the other commenters, here — keep us informed. I am pissed as hell at this bailout at the moment. If we do this, I want those quants who saw this coming testifying, I want to know who told the quants to shut up, and I want the people who knew this was coming and let it happen anyway in jail. They don’t get to live on their yachts while we bail them out.
Mortgage business is cyclical, and the risks were obviously calculated based on normal distributions and didn’t consider the fat tail risk of a lot of these loans going down at once. Somebody knew this was Wrong, and somebody had to have told them to be quiet. I want those quants testifying, and their bosses locked up.
Yves;
You’re a beacon during a very stormy time, thank you for your very intilligent analysis.
Stay the course.
Testing how to comment on your excellent blog
Hirsch