Monthly Archives: October 2007

October 31, 2007

• Martin Wolf is Down on Biofuels
  by Yves Smith 3:44 pm

• Jim Rogers Increases His Bets Against Investment Banks
  by Yves Smith 2:31 pm

• A Revealing Subprime Chart
  by Yves Smith 1:22 am

• Beware Dubious (as in Most) Surveys
  by Yves Smith 12:47 am

October 30, 2007

• Rubin Criticizes Weak Dollar Policy
  by Yves Smith 7:36 pm

• Federal Home Loan Banks Standing in for Commercial Paper Buyers
  by Yves Smith 2:29 pm

• A Wee Bit of Good Environmental News
  by Yves Smith 1:22 pm

• Arguing Against a Rate Cut
  by Yves Smith 1:56 am

• Countrywide Skeptics
  by Yves Smith 12:03 am

October 29, 2007

• Worries About Monoline Insurers Grow
  by Yves Smith 11:03 pm

• Fed Reluctant to Cut Rates This Week
  by Yves Smith 2:15 pm

• Shang-Jin Wei: Yuan Float Will Yield Only Modest Benefits
  by Yves Smith 3:36 am

• Nouriel Roubini’s Latest Take on Housing
  by Yves Smith 2:37 am

• Is Merrill in Peril?
  by Yves Smith 2:19 am

• More Doubts About Hedge Fund Performance
  by Yves Smith 1:12 am

• Larry Summers on How to Manage the Dollar’s Decline
  by Yves Smith 12:01 am

October 28, 2007

• Ben Stein and Space Aliens
  by Yves Smith 2:43 am

• Conventional Wisdom Watch (Financial Innovation Edition)
  by Yves Smith 12:37 am

October 27, 2007

• Rising Ozone Levels to Reduce Agricultural Productivity by 40%
  by Yves Smith 11:37 pm

• Wall Street Journal Gets It Wrong on Bankruptcy
  by Yves Smith 11:07 pm

• One Third of Primates at Risk of Extinction
  by Yves Smith 3:14 pm

October 26, 2007

• The Ignored Information Content of Stan O’Neal’s Call To Wachovia
  by Yves Smith 11:37 pm

• Connecticut AG Investigating Rating Agencies for Thuggish Behavior
  by Yves Smith 11:06 pm

• Yet More Reservations About the SIV Rescue Plan
  by Yves Smith 9:49 pm

• Be Careful What You Wish For (Schumer/Paulson Edition)
  by Yves Smith 1:33 am

October 25, 2007

• The Grim Results of a Pandemic Planning Exercise
  by Yves Smith 11:29 pm

• Past Crashes, Current Lessons, and China’s Externalities
  by Yves Smith 11:12 pm

• On the Libertarian Who Got a £16 Billion Bailout
  by Yves Smith 11:02 pm

• MBIA’s $1.8 Billion SIV Having Funding Trouble
  by Yves Smith 2:30 pm

• An Update on Housing Market Downside
  by Yves Smith 2:01 am

• On the Canard that Subprimes Are Good for Borrowers
  by Yves Smith 1:50 am

• Making Copper 200x Faster
  by Yves Smith 1:01 am

October 24, 2007

• The Role of CDOs in Merrill’s Losses (Updated and Expanded Version)
  by Yves Smith 11:13 pm

• Higher Temperatures Linked to Mass Extinctions
  by Yves Smith 2:51 pm

• Phone Sex and Mortgage Servicing Priced the Same
  by Yves Smith 1:35 pm

• Why Countrywide is Modifying Mortgages (Plus Its Option ARM Worries)
  by Yves Smith 2:09 am

• The SIV Rescue Plan: Dissed Again by the Journal
  by Yves Smith 1:49 am

October 23, 2007

• Money Markets Still Under Stress
  by Yves Smith 11:23 pm

• Jim Rogers Abandons the Dollar
  by Yves Smith 11:09 pm

• Former Fraudster Frank Abagnale: "Technology Breeds Crime"
  by Yves Smith 9:53 pm

• Nicholas Taleb Attacks the "Pseudo-Science" of Modern Finance
  by Yves Smith 3:12 pm

• Countrywide Says It Will Modify Up to $16 Billion in Loans
  by Yves Smith 11:19 am

• The "No More Stupid Mortgages" Bill
  by Yves Smith 1:49 am

• More on Puzzling Out the SIV Bailout Proposal
  by Yves Smith 1:36 am

• Securitization Ain’t What It Used to Be
  by Yves Smith 1:21 am

• CO2 Levels Rising Faster Than Forecast
  by Yves Smith 12:13 am

October 22, 2007

• The Clear and Present Danger of Inflation
  by Yves Smith 10:01 pm

• Mirabile Dictu: Bear Makes a Deal With Citic
  by Yves Smith 4:26 pm

• Microsoft Accepts the Rule of Law (EU Antitrust Edition)
  by Yves Smith 4:10 pm

• Housing Speculation Says Bottom Is Not Yet Nigh
  by Yves Smith 12:47 am

• G-7, IMF Meetings Unproductive and Divided
  by Yves Smith 12:18 am

October 21, 2007

• Defaults Hit CDOs, Consumer Credit
  by Yves Smith 11:17 pm

• Is Paulson’s Lobbying Working? Reports of SIV Bailout Progress Prove Premature
  by Yves Smith 11:05 pm

• Barclays, RBS Set Up $30 Billion in Credit Facilities for Stressed Borrowers
  by Yves Smith 7:33 pm

• IMF Meeting Focus: Food Inflation, Lax US Regulations, IMF Prescriptions
  by Yves Smith 5:23 pm

• The Future of Coral Reefs
  by Yves Smith 11:51 am

October 20, 2007

• The SIV Bailout Plan: Does the Math Work Even for Citi? (Revised)
  by Yves Smith 11:32 pm

• SIV Rescue Plan: From Smoke and Mirrors to Jawboning
  by Yves Smith 4:53 am

• "Why Debunking Myths Can Backfire"
  by Yves Smith 2:06 am

• Proposal to Let Stressed Homeowners Raid Retirement Accounts
  by Yves Smith 1:40 am

October 19, 2007

• Real Estate Porn
  by Yves Smith 3:01 pm

• Greenspan Gives Vote of No Confidence on SIV Bailout Plan
  by Yves Smith 2:24 pm

• Citi Secures Interim Funding as SIV Plan Gets Jeered
  by Yves Smith 1:48 am

• Some Modest Suggestions for Rating Agency Reform
  by Yves Smith 1:21 am

October 18, 2007

• ABX Index Tanks Again
  by Yves Smith 11:01 pm

• SIV Bailout Plan Having Trouble Enlisting Supporters
  by Yves Smith 3:50 pm

• Warm Wind a Culprit in Arctic Melt
  by Yves Smith 12:50 pm

• A Rant About a Misguided Defense of Hedge Funds
  by Yves Smith 1:34 am

• Greenspan Talks Up the Dollar; Mr. Yen Forecasts Possible "Plunge"
  by Yves Smith 12:44 am

• Xenophobia Watch: Journal Blames SIVs on London
  by Yves Smith 12:33 am

October 17, 2007

• IMF and G-7 at Cross Purposes on the Dollar?
  by Yves Smith 11:40 pm

• Oceans Becoming More Acidic (and Why That’s a Big Deal)
  by Yves Smith 11:12 pm

• First SIV Failure: Cheyne Finacial
  by Yves Smith 8:52 pm

• The SIV Bailout: The Search for Bagholders is On
  by Yves Smith 4:33 am

• A Tip on Making Better Group Decisions
  by Yves Smith 1:28 am

• "The Financial Crisis – Why It May Last"
  by Yves Smith 12:33 am

October 16, 2007

• August International Capital Flows Turn Negative
  by Yves Smith 11:59 pm

• Why Does This Remind Me of Citi and the Treasury Department?
  by Yves Smith 8:35 pm

• Further Developments on the SIV Rescue Front
  by Yves Smith 3:29 am

• More Confirmation of the Impediments to Mortgage Loan Modifications
  by Yves Smith 1:18 am

• Paulson Facing Heat From G-7 on Regulations and the Dollar
  by Yves Smith 12:03 am

October 15, 2007

• Bernanke: "I Would Like to Know What Those Damn Things Are Worth"
  by Yves Smith 11:59 pm

• The Smoke and Mirrors SIV Rescue Plan
  by Yves Smith 4:52 am

• Two Thirds of CEOs Say They Are Overpaid
  by Yves Smith 1:30 am

• Taking Central Bankers to the Woodshed
  by Yves Smith 1:25 am

• On Wal-Mart Fighting to Cut Local Tax Bills
  by Yves Smith 12:55 am

• Treasury Sales to Rise Sharply to Fund Deficit
  by Yves Smith 12:04 am

October 14, 2007

• SIV Rescue Plan: Will it Get Done?
  by Yves Smith 1:54 am

• Companies That Make Buybacks Lag the Market
  by Yves Smith 12:47 am

• The Economist Gets It Wrong on Japanese Outsourcing
  by Yves Smith 12:00 am

October 13, 2007

• Wonder Why No One Has Touched This Story With a Ten Foot Pole
  by Yves Smith 11:40 pm

• 20 Years of PCs, and What Do We Have to Show for It?
  by Yves Smith 11:20 pm

• In Case You Thought the Credit Crunch Was Over….(SIV Rescue Edition)
  by Yves Smith 2:57 am

• Up to 70% of Mortgage Defaults Linked to Misrepresentation
  by Yves Smith 1:35 am

• Political Humor (French Edition)
  by Yves Smith 1:11 am

October 12, 2007

• Google Advertising Model Under Threat?
  by Yves Smith 2:34 pm

• Gillian Tett: The Perverse Effects of Value-at-Risk Models
  by Yves Smith 4:53 am

• WSJ: Wide of the Mark on Valuation Difficulties
  by Yves Smith 4:08 am

• On Earnings Prospects and the Accuracy of Forecasts
  by Yves Smith 12:55 am

• Speculative Herd Behavior?
  by Yves Smith 12:40 am

• Mirabile Dictu: Wall Street Journal Says Income Inequality is Rising
  by Yves Smith 12:31 am

October 11, 2007

• Jeffrey Garten on Forestalling a Dollar Rout
  by Yves Smith 1:57 am

• Another Sign of the Lack of Civil Discourse in America
  by Yves Smith 12:48 am

• Willem Buiter Critiques the Northern Rock Bailout
  by Yves Smith 12:33 am

• Morgan Stanley’s Excuse for Dropping $390 Million in One Day
  by Yves Smith 12:11 am

October 10, 2007

• The Journal on the Demographics of Subprime
  by Yves Smith 11:52 pm

• Joseph Stiglitz: "House of Cards"
  by Yves Smith 2:47 am

• Mervyn King’s Lonely Struggle
  by Yves Smith 1:50 am

• Corporate Chiefs Uncertain About Economic Outlook (And With Good Reason)
  by Yves Smith 1:45 am

• One in Five Working Families Struggling
  by Yves Smith 12:48 am

October 9, 2007

• George Magnus: We’re Not Out of the Woods Yet
  by Yves Smith 1:57 am

• Menzie Chin Parses the Meaning of "Strong Dollar"
  by Yves Smith 1:40 am

• American Express: Another Example of How Fees Skew Credit Decisions
  by Yves Smith 12:56 am

October 8, 2007

• The Journal Tells Us Now That Hedge Funds Shop for Valuations?
  by Yves Smith 11:01 pm

• Clive Crook on America’s Sham Carbon Emission Legislation
  by Yves Smith 1:56 am

• Scrutiny of Pay Gap Between CEO and Direct Reports
  by Yves Smith 12:44 am

October 7, 2007

• Quel Surprise! Auction Houses Ramp Up Prices
  by Yves Smith 11:50 pm

• IMF Chief Talking Up the Dollar
  by Yves Smith 11:05 pm

• Arctic Walruses Displaced by Polar Ice Retreat
  by Yves Smith 9:52 pm

• Robert Kuttner: Congressional Testimony on Parallels to 1920s
  by Yves Smith 2:31 am

October 6, 2007

• New Consumer Funding Source: 401(k)s
  by Yves Smith 2:24 am

• Floyd Norris: A Skeptic of the Job Creation Stats
  by Yves Smith 2:04 am

October 5, 2007

• 2007 Ig Nobel Winners
  by Yves Smith 11:11 am

• Best Securities Reform Proposal
  by Yves Smith 10:23 am

• Extreme Measures IV: Sheila Bair of the FDIC on Subprimes
  by Yves Smith 1:43 am

• The ECB Ignores Inflation For Now
  by Yves Smith 12:21 am

October 4, 2007

• Vietnam and Qatar Retreat From Dollar
  by Yves Smith 11:10 pm

• It Pays to be a Metrosexual
  by Yves Smith 11:01 pm

• Signs of improvement in Commercial Paper Market
  by Yves Smith 3:06 pm

• On the Fragile State of the Credit Markets
  by Yves Smith 2:24 am

• Dire Outlook for the Tasmanian Devil
  by Yves Smith 1:27 am

• Monkey See, Monkey Do (Climate Change Edition)
  by Yves Smith 12:55 am

October 3, 2007

• Why Subprime Mortgages Aren’t Getting "Mods"
  by Yves Smith 11:56 pm

• Republicans Join Free Trade Skeptics
  by Yves Smith 10:16 pm

• A Wee Notice to Readers (Consulting Porn Edition)
  by Yves Smith 8:40 am

• Martin Wolf on Resurrecting Securitization
  by Yves Smith 2:25 am

• Countrywide Hires Expensive Cheerleader
  by Yves Smith 2:11 am

• International Investors Tell SEC That US Corporate Governance is Too Weak
  by Yves Smith 1:45 am

• Bankruptcy Filings Rising
  by Yves Smith 1:02 am

October 2, 2007

• IBM Seeks to Patent Checking a Box
  by Yves Smith 11:07 pm

• Existing Home Sales Fall; MIlken Says Recovery a Long Way Away
  by Yves Smith 4:04 pm

• Mirable Dictu! The Journal is Skeptical About the Stock Rally
  by Yves Smith 12:35 am

• "What Happened to the Quants in August 2007?"
  by Yves Smith 12:10 am

October 1, 2007

• Thomas Palley: Why Conventional Trade Theories Don’t Work Any More
  by Yves Smith 11:28 pm

• Bill Gross: Does the Fed Understand the Brave New World of Finance?
  by Yves Smith 11:04 pm

• Tim Duy Weighs in on What the Fed Might Do Next
  by Yves Smith 12:10 am