Comments on: Links 11/25/08 http://www.nakedcapitalism.com/2008/11/links-112508.html Sun, 22 Nov 2009 14:37:59 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Anonymous http://www.nakedcapitalism.com/2008/11/links-112508.html#comment-27164 Anonymous Tue, 25 Nov 2008 21:38:00 +0000 http://www.nakedcapitalism.com/2008/11/links-112508/#comment-27164 Obama Names Bill Clinton to Presidential Post<br/><br/>http://iowahawk.typepad.com/iowahawk/2008/11/obama-names-bill-clinton-to-president-post.html Obama Names Bill Clinton to Presidential Post

http://iowahawk.typepad.com/iowahawk/2008/11/obama-names-bill-clinton-to-president-post.html

]]> By: Anonymous http://www.nakedcapitalism.com/2008/11/links-112508.html#comment-27139 Anonymous Tue, 25 Nov 2008 18:55:00 +0000 http://www.nakedcapitalism.com/2008/11/links-112508/#comment-27139 Does anyone understand this CPI stuff?<br/><br/>http://www.clevelandfed.org/Research/data/US-Inflation/chartsdata/index.cfm?state1=8&state2=&state3=&state4=&startDate=01/01/1989&endDate=11/25/2008&datatype=3&freq=quarterly Does anyone understand this CPI stuff?

http://www.clevelandfed.org/Research/data/US-Inflation/chartsdata/index.cfm?state1=8&state2=&state3=&state4=&startDate=01/01/1989&endDate=11/25/2008&datatype=3&freq=quarterly

]]> By: Anonymous http://www.nakedcapitalism.com/2008/11/links-112508.html#comment-27136 Anonymous Tue, 25 Nov 2008 18:32:00 +0000 http://www.nakedcapitalism.com/2008/11/links-112508/#comment-27136 You know things are bad when, in todays press conference Paulson's physical actions reminded me of some one having a massive panic attack or psychotic meltdown. The rolling eyes, constant licking of the lips, jittery hand movements and could not stand in one spot for more than a second. Now I'm scared. <br/><br/>Skippy You know things are bad when, in todays press conference Paulson’s physical actions reminded me of some one having a massive panic attack or psychotic meltdown. The rolling eyes, constant licking of the lips, jittery hand movements and could not stand in one spot for more than a second. Now I’m scared.

Skippy

]]> By: Stephen http://www.nakedcapitalism.com/2008/11/links-112508.html#comment-27104 Stephen Tue, 25 Nov 2008 16:02:00 +0000 http://www.nakedcapitalism.com/2008/11/links-112508/#comment-27104 The anatomy article is good one...finally someone puts down a decent timeline. This goes back a long time, we seem to have have done some sleepwalking.<br/><br/>More of a fireman than arsonist focussed article. it doesnt really go into a lot of detail about how things are interconnected, just that they are. Also doesnt describe why etc. you get hints of the horror when you read that the money market mutual funds, thiose alleged bastions of conservatism, were lending overnight money to Lehman for CDO's. Good returns when there isnt a storm but wow they were effectively lending money based on the name Lehman alone. I guess nobody ever thinks what happens if I have to collect.<br/><br/>Add one more thing to the list that the regulators are going to have to examine.<br/><br/>There is still an untold story of the Lehman collapse. The article really doesnt touch on Lehman, why it was such a house of cards, why it couldnt find a buyer or why, as is rumoured, it turned down buyers. Was Lehman a massive game a chicken?<br/><br/>Some positive hints about Larry Summers, criticizing the fact that fannie and freddie were left with mgt in place at the time. They know of the problems and they know there are congressional defenders...including potentially the new President Elect.<br/><br/>I still believe you do what you can to buy the time but you have to ensure that there is follow up, there is reform. <br/><br/>It still isnt clear that the core question of, should Central Banks prick specific asset bubbles, when and how? has been answered. Is it a job of monetary policy or is it a job of fiscal and tax policy or one of regulatory policy. <br/><br/>But good overview article. Curious to hear others on their opinions on the article and the questions it raises? The anatomy article is good one…finally someone puts down a decent timeline. This goes back a long time, we seem to have have done some sleepwalking.

More of a fireman than arsonist focussed article. it doesnt really go into a lot of detail about how things are interconnected, just that they are. Also doesnt describe why etc. you get hints of the horror when you read that the money market mutual funds, thiose alleged bastions of conservatism, were lending overnight money to Lehman for CDO’s. Good returns when there isnt a storm but wow they were effectively lending money based on the name Lehman alone. I guess nobody ever thinks what happens if I have to collect.

Add one more thing to the list that the regulators are going to have to examine.

There is still an untold story of the Lehman collapse. The article really doesnt touch on Lehman, why it was such a house of cards, why it couldnt find a buyer or why, as is rumoured, it turned down buyers. Was Lehman a massive game a chicken?

Some positive hints about Larry Summers, criticizing the fact that fannie and freddie were left with mgt in place at the time. They know of the problems and they know there are congressional defenders…including potentially the new President Elect.

I still believe you do what you can to buy the time but you have to ensure that there is follow up, there is reform.

It still isnt clear that the core question of, should Central Banks prick specific asset bubbles, when and how? has been answered. Is it a job of monetary policy or is it a job of fiscal and tax policy or one of regulatory policy.

But good overview article. Curious to hear others on their opinions on the article and the questions it raises?

]]> By: Curmudgeonly Troll http://www.nakedcapitalism.com/2008/11/links-112508.html#comment-27090 Curmudgeonly Troll Tue, 25 Nov 2008 15:03:00 +0000 http://www.nakedcapitalism.com/2008/11/links-112508/#comment-27090 Antidote not working for me this morning so had to get my fix here (w/video) -<br/><br/><a HREF="http://www.msnbc.msn.com/id/27826189/" REL="nofollow">http://www.msnbc.msn.com/id/27826189/</a> Antidote not working for me this morning so had to get my fix here (w/video) -

http://www.msnbc.msn.com/id/27826189/

]]> By: ruetheday http://www.nakedcapitalism.com/2008/11/links-112508.html#comment-27081 ruetheday Tue, 25 Nov 2008 13:43:00 +0000 http://www.nakedcapitalism.com/2008/11/links-112508/#comment-27081 Anyone see this:<br/><br/>http://biz.yahoo.com/ap/081125/mortgage_debt.html<br/><br/>Fed to buy $600 billion in mortgages and MBS from Fannie, Freddie, and FHLB. Also unveiled programs to provide liquidity to credit card, auto loan, and student loan markets. Anyone see this:

http://biz.yahoo.com/ap/081125/mortgage_debt.html

Fed to buy $600 billion in mortgages and MBS from Fannie, Freddie, and FHLB. Also unveiled programs to provide liquidity to credit card, auto loan, and student loan markets.

]]> By: Anonymous http://www.nakedcapitalism.com/2008/11/links-112508.html#comment-27073 Anonymous Tue, 25 Nov 2008 12:15:00 +0000 http://www.nakedcapitalism.com/2008/11/links-112508/#comment-27073 Just read "Anatomy of a Meltdown"<br/>and can't figure out how the inept get rewarded over and over again, just because the Fed and the Treasury don't want to look bad or their to big/IB. <br/><br/>If our recent form of capitalism has not shown its propensity to tank every so many years do to over heating/bubbles or wildly/over complicated financial vehicles that look good for a short time, only to tank hard down the road.<br/><br/>Is it not self evident the need to find parity in the private and public sectors. Monies will not fix the broader social problems that the world faces. Infinite expansion will not address the issues we really face in society today. Untill we face the real problems on the tip of our nose, we will never find traction and move in the right direction.<br/><br/>Skippy Just read “Anatomy of a Meltdown”
and can’t figure out how the inept get rewarded over and over again, just because the Fed and the Treasury don’t want to look bad or their to big/IB.

If our recent form of capitalism has not shown its propensity to tank every so many years do to over heating/bubbles or wildly/over complicated financial vehicles that look good for a short time, only to tank hard down the road.

Is it not self evident the need to find parity in the private and public sectors. Monies will not fix the broader social problems that the world faces. Infinite expansion will not address the issues we really face in society today. Untill we face the real problems on the tip of our nose, we will never find traction and move in the right direction.

Skippy

]]> By: fresno dan http://www.nakedcapitalism.com/2008/11/links-112508.html#comment-27068 fresno dan Tue, 25 Nov 2008 10:33:00 +0000 http://www.nakedcapitalism.com/2008/11/links-112508/#comment-27068 There are probably lots of reasons my simplistic idea won't work, but its very satisfying viscerally. Let Citigroup fail, plus AIG, plus all the others. Take the TARP and the other 10 or 12 acronyms, add a trillion, and make that money available to competently run financial institutions - no more affirmative action for the stupid. And a trillion devided equally among all Americans. Mayend up spending less in the long run, but have a lot more accountability. The dirty secret is that stockholders do not behave like owners. Maybe the model, although great in theory, has no relevance to reality. I own stock, and the truth is, I have no idea of how to run a bank. And even if I did, would 50% of the other stockholders know how? There are probably lots of reasons my simplistic idea won’t work, but its very satisfying viscerally. Let Citigroup fail, plus AIG, plus all the others. Take the TARP and the other 10 or 12 acronyms, add a trillion, and make that money available to competently run financial institutions – no more affirmative action for the stupid. And a trillion devided equally among all Americans. Mayend up spending less in the long run, but have a lot more accountability. The dirty secret is that stockholders do not behave like owners. Maybe the model, although great in theory, has no relevance to reality. I own stock, and the truth is, I have no idea of how to run a bank. And even if I did, would 50% of the other stockholders know how?

]]> By: Anonymous http://www.nakedcapitalism.com/2008/11/links-112508.html#comment-27061 Anonymous Tue, 25 Nov 2008 09:14:00 +0000 http://www.nakedcapitalism.com/2008/11/links-112508/#comment-27061 Shareholders should get nothing.<br/><br/>And neither should the bondholders! Shareholders should get nothing.

And neither should the bondholders!

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