Monthly Archives: February 2009

Links 2/28/09

Still in Kansas City, had great fun and got to hang out with fellow bloggers, snow here tomorrow, so may have transit hassles, but hope to be back to a more normal schedule by tomorrow evening. Key Metric: The F/R Ratio Josh Marshall, TPM Cafe (hat tip reader Scott) The Model That’s Killing Pension Funds? […]

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Links 2/27/09

Rare cheetah captured on camera BBC The “Worst Food Product Ever” May Have Been Found [Awesome] Consumerist And Yet, Still Rules Their World Digby (hat tip reader Doug) A few words from a reader on TALF mechanics Ed Harrison Lonely Geithner Felix Salmon Moody’s predicts default rate will exceed peaks hit in Great Depression Telegraph. […]

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More on the Simply Dreadful Performance of CDOs

Apologies for the terse posts tonight; out of town, will be lighter than usual today and tomorrow. The Financial Times has been keeping tabs on the results, or perhaps more accurately, the lack thereof, of collateralized debt obligations. A couple of weeks ago, it highlighted research by Morgan Stanley and Wachovia that concluded that nearly […]

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Links 2/26/09

Posts will be thin Thursday and Friday (on the road, then at an econbloggers conference hosted by the Kauffman Foundation), so I am giving you extra goodies to keep you busy in the meantime. Do chat among yourselves. No food fights, however. Tiger attacks trigger expert plea BBC Designer Babies – Like It Or Not, […]

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Goldman: China Tax Receipts Show Marked Fall in Incomes

Note the wording Goldman used in describing the implications of the decline in income tax revenues in China, via Bloomberg (hat tip reader MIchael): “Tax data show much sharper deceleration in income and consumption in the past few months than suggested by official retail sales or income growth figures,” Goldman Sachs analysts Joshua Lu, Caroline […]

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Is the Treasury Planning on a Near Term Recovery in Bank Stocks?

Reader M&M called my attention to a Bloomberg story I was really hoping to avoid, “U.S. Sets a Six-Month Deadline for New Bank Capital“. The opening: The government set a six-month deadline for the biggest 19 U.S. banks to raise any new capital deemed necessary after a mandatory review of their balance sheets. The regulators […]

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Taleb Attacks Wall Street Bonuses

Nassim Nicholas Taleb, of Black Swan fame, joins the chorus in attacking asymmetrical bonuses, the “head’s I win” if things go well, “tails you lose” syndrome. An oversight in this piece is that this approach nevertheless worked reasonably well in the old Wall Street. Why? The big reason was that you had owner/managers whose capital […]

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Some Slightly Good News: Feds Trying to Engage in More Serious Oversight of Citigroup

To be honest, I’m not quite sure how to read this Wall Street Journal piece, since this is a spat between two parties, with a “he said, she said” quality to it. However, the title, “Citigroup Chafes Under U.S. Overseers:” suggests a bias in favor of Citigroup.”Overseers” is a weak word, suggesting Uncle Sam really […]

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Japan Exports Fall By 46% in January, Producing Record Trade Deficit

Japan has been hit by a double-whammy: the global fall in trade, made worse by its (formerly) rising yen. While deteriorating conditions in China generally get more media attention, the falloff in Japan is stunning and serious. Japan has spent more than a decade stagnant, but the overall growth figures mask the fact that the […]

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Links 2/25/09

Lifeline for endangered albatross BBC First evidence of a supernova in an ice core physics arXiv Thousands queue at New York job fair Financial Times The Media Continue to Ignore Welfare for Citi Shareholders Beat the Press AIG’s Liddy May Shift Strategy as Asset Sales Stall Bloomberg and As A.I.G.’s Losses Grow, Its Survival Options […]

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Links 2/24/09

Tech layoffs: The scorecard CNet (hat tip reader John) Shiller: House Prices Still Way Too High Clusterstock U.S. Consumers Driven Away From Drink Spending: Chart of Day Bloomberg (hat tip reader John). Gee, I am not part of this trend, although it would be better if I were. US natural gas prices could hit $2/MMBtu […]

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From the Banking Officialdom: So This is Meant to Reassure?

Guess the continuing deterioration in the stock market is beginning to capture the attention of the financial regulators. The Treasury, FDIC, OCC, OTS, and Federal Reserve issued a joint statement just after 4:00 PM (hat tip reader Steve). Some key bits (boldface ours); A strong, resilient financial system is necessary to facilitate a broad and […]

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