naked capitalism

ndk says:

I say this only out of the deepest affection, but that dog reminds me of a feeding sea apple. If you’ve never witnessed that spectacle, visit your local aquarium. Guaranteed to fascinate and gross you out.

lewy14 says:

Yellin:

…Yellen said she was “absolutely open” to the idea of the central bank buying long-term Treasuries if it would help the overall functioning of the credit market.

Meanwhile, Yellen told reporters the Fed needed to fight back against the notion that its liquidity efforts would inevitably lead to higher inflation and higher interest rates, terming the notion “ludicrous.”

Hmm… pace Fox Mulder, I WANT TO BELIEVE… but I don’t, quite…

jmd says:

General Counsel

[SEC Chairman Mary] Schapiro yesterday named David Becker, 61, a partner at Cleary Gottlieb Steen & Hamilton in Washington, to become the SEC’s chief legal officer and senior policy adviser.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aCZ4.zPMlVMs&refer=home

Obama must realllllly be in bed with Wall Street, inexplicably, since the pitchforks are being prepared.

Those in the community will recall that Giovanni Prezioso, also a Cleary alum, was the GC of the SEC during the period when some of the most egregious 'dis-interest' in Markopoulos type information was the norm. After his tenure in Wdc, he promptly returned to Cleary to continue building their securities and corporate practice. I'm just sayin', Becker has no incentive to make a difference, just to restore the status quo, same as his boss, Schapiro, who is besties with all of the usual suspects. La plus ca change!!!

Anonymous says:

More Dubai news:

http://dubai.travellop.com/bank-aid-prompts-fears-over-support-for-dubai.html

“Abu Dhabi’s unilateral move to recapitalise its own banks has sparked fears among investors that the oil-rich capital of the United Arab Emirates may hesitate to support Dubai as the impact of the credit crunch worsens.

A senior Abu Dhabi official said this week’s decision to inject Dh16bn ($4.3bn, €3.4bn, £3bn) of extra Tier 1 capital into its five banks, but ignore other banks of the seven-emirate federation, was meant to add an addition layer of protection for its own local houses.

Bankers warned that Abu Dhabi’s go-it-alone attitude could mean the federal government might not be as willing as expected to rescue Dubai entities facing default.”

Will loan defaults in Dubai and Abu Dhabi trigger a collapse of British Financial institutions, which are heavily exposed there?

D

Anonymous says:

Lewy14: Inflation? You think that the US will bump against its capacity ceiling, so as to trigger a rise in prices? While the world economy contracts?
You REALLY do “believe”, don’t you?

Anonymous says:

Re “CEOs, Bankers Used Corporate Credit Cards for Sex, Says New York Madam”: This gives a whole new meaning to the phrase “stimulus package.”

jm says:

Yves, you wrote, “Foreigners were “local staff” and had no opportunity to be promoted above a certain level (I was the first Westerner hired into the Japanese hierarchy and was roughed up accordingly).”

This is ambiguous — does this mean that you were hired in at or promoted above “that certain level”? Were you able to rise in the hierarchy? Did the “roughing up” drive you out? Having much experience with Japan, and knowing that not all Japanese companies behave in the same way, I am very interested to know more.

Anonymous says:

Could Abu Dharbi and Dubai borrowers be defaulting to loans to UK banks?

Anonymous says:

“”Yellen, speaking on the same day the government announced the biggest job losses in 34 years, said now is not the time to dither or debate endlessly on the shape of fiscal stimulus.

“It is critical that decisions on these matters be made on a timely basis,” she said.”"

In the thin-strip-of-wintry-settlements-along-the-northern-US called Canada, our great Leader HelmetHair is repeating (with vigour) the “pass my budget or starve” argument.

For some odd reason, I doubt His sincerity. Maybe it was the impassioned predictions of calamity that accompanied Generalissimo Bush and Hank Paulson’s last efforts. Or the odd politically convenient “terror alerts.” Or maybe I’m too cynical and tired.

ignorantmike

Don says:

I kind of like this idea:

http://www.ft.com/cms/s/0/258c36fc-f483-11dd-8e76-0000779fd2ac.html

“Lars Nonbye, general manager of the Nonbye sign-making company in Denmark, has found his own way to tackle the global economic slump. He has banned it from work premises. Newspapers are clipped to remove doom-laden articles, talk about the crisis is banned at the start of meetings and anti-crisis stickers are handed to customers. “You have to say, ‘enough is enough’,” maintains Mr Nonbye.

As strategies go, his is arguably as effective as any yet devised by a politician or central banker. “

Don the libertarian Democrat