Monthly Archives: January 2009

January 31, 2009

• Quote of the Week
  by Yves Smith 10:26 pm

• Links 1/31/09
  by Yves Smith 5:36 am

• Wall Street Quakes at Threat of $400,000 Pay Cap
  by Yves Smith 3:00 am

January 30, 2009

• "An Open Letter to the Western Banking Establishment"
  by Yves Smith 11:52 pm

• Links 1/30/09
  by Yves Smith 5:56 am

• So Why is the Journal (Sort of) Defending Peter Schiff’s Simply Wretched Investment Performance?
  by Yves Smith 5:44 am

• Goldman: Bank Rescue May Reach $4 Trillion (and "Bad Bank" Issues)
  by Yves Smith 3:59 am

• Congressional Sound and Fury Over Wall Street Bonuses Sure to Signify Nothing
  by Yves Smith 12:04 am

January 29, 2009

• Senate Wants SEC to Regulate Hedge Funds
  by Yves Smith 3:44 pm

January 28, 2009

• Links 1/29/08
  by Yves Smith 11:24 pm

• IMF Slashes Growth Forecast While US Stocks Party on FOMC Statement
  by Yves Smith 11:05 pm

• Taleb Foresees Private Equity Firm Failures If Stock Market Falls
  by Yves Smith 11:43 am

• Links 1/28/09
  by Yves Smith 3:23 am

• Global Banking Organization Predicts Worldwide GDP Fall for 2009
  by Yves Smith 2:42 am

• "The Tarp is a fiscal straitjacket"
  by Yves Smith 2:21 am

• Another Geithner Ethics Compromise (Let Them Eat Cake Edition)
  by Yves Smith 12:08 am

January 27, 2009

• Wall Street Employees Unhappy About 2008 Bonuses
  by Yves Smith 9:37 am

• Links 1/27/09
  by Yves Smith 3:02 am

• Credit Crunch Leads Nations to Barter for Food
  by Yves Smith 2:19 am

January 26, 2009

• Merrill Pay Down Only Slightly in 2008 From 2007 Levels
  by Yves Smith 11:30 pm

• Your Tax Dollars at Work: Citi Buys New Corporate Jet (Updated: Defends Purchase)
  by Yves Smith 6:02 pm

• Links Australia Day 2009
  by Yves Smith 2:37 am

• Quelle Surprise! Big Banks Who Got TARP Funds Reduced Lending
  by Yves Smith 1:46 am

• Merrill Bonus Plot Thickens: BofA Was Informed
  by Yves Smith 12:49 am

January 25, 2009

• Quelle Surprise! Summers Says Banking Industry May Need More Dough
  by Yves Smith 5:41 pm

• Links 1/25/09
  by Yves Smith 3:47 am

• Ben Stein Asks Us to Feel Sorry for Wildly Irresponsible People
  by Yves Smith 3:00 am

• Obama’s Financial Reform Proposals: Less Than Meets the Eye
  by Yves Smith 1:14 am

January 24, 2009

• Links 1/24/09
  by Yves Smith 6:15 am

• Guest Post "Lessons From India"
  by Yves Smith 5:41 am

• "Cramdown and Future Mortgage Credit Costs: Evidence and Theory"
  by Yves Smith 3:24 am

January 23, 2009

• Links 1/23/09
  by Yves Smith 3:35 am

• Soros Gives Thumbs Down to TARP 1.0, Revisited, "Aggregator Bank"
  by Yves Smith 2:41 am

• Geithner Doth Speak With Forked Tongue (Dollar Edition)
  by Yves Smith 12:40 am

January 22, 2009

• Thain Forced Out, NY Attorney General Cuomo Investigating Merrill Bonuses
  by Yves Smith 6:12 pm

• Links 1/22/08
  by Yves Smith 1:39 am

• China Moves to Shorter Maturity Treasuries Out of Bond Bubble Worries
  by Yves Smith 1:02 am

• Merrill Execs Pay Selves Bonuses Ahead of Schedule (and Before BofA Closing)
  by Yves Smith 12:09 am

• China Claims 6.8% Economic Growth for 4Q 2008
  by Yves Smith 12:01 am

January 21, 2009

• Links 1/21/09
  by Yves Smith 3:00 am

• Is Sterling About to Tank?
  by Yves Smith 2:20 am

• Is Cap and Trade Dead on Arrival?
  by Yves Smith 1:33 am

• National Association of Home Builders: Cumulative Price Fall to Exceed 45% in 2009
  by Yves Smith 1:00 am

• Fiat-Chrysler Deal Hinges on Obtaining $3 Billion in US Loans
  by Yves Smith 12:41 am

January 20, 2009

• Bank of England to Start Quantitative Easing
  by Yves Smith 11:05 pm

• Chinese Unemployment Jumps, May Hit 30 Year High
  by Yves Smith 5:05 pm

• Links Inauguration Day
  by Yves Smith 2:22 am

January 19, 2009

• Banks Lowering the Boom on Small Builders
  by Yves Smith 11:50 pm

• Geithner Image Burnishing? Disingenuous Story on Lehman Emerges Now
  by Yves Smith 10:50 pm

• Putin Orders New Budget With $41 Oil
  by Yves Smith 8:20 pm

• Links 1/19/09
  by Yves Smith 2:18 am

January 18, 2009

• WTI Crude Index Losing Favor Due to Worries About Distortion
  by Yves Smith 10:51 pm

• Setser: China to Continue Buying Treasuries
  by Yves Smith 9:20 pm

• Links 1/18/09
  by Yves Smith 4:20 am

• Steve Waldman: First, Let’s Shoot All the Lenders
  by Yves Smith 3:25 am

• How to Waste $350 Billion
  by Yves Smith 12:01 am

January 17, 2009

• Links 1/17/08
  by Yves Smith 5:11 am

January 16, 2009

• British Banks Deemed "Technically Insolvent"
  by Yves Smith 11:01 pm

• Links 1/16/09
  by Yves Smith 2:27 am

• Fitch Foresees "Hard Landing" for China
  by Yves Smith 1:23 am

• WSJ: Bank of America to Receive $20 Billion Injection, Support for $118 Billion of Loans
  by Yves Smith 1:21 am

January 15, 2009

• Links 1/15/09
  by Yves Smith 4:00 am

• Pandit: A More Than $800 Million Man?
  by Yves Smith 3:26 am

• Willem Buiter Argues Against Eurozone Breakup Worries
  by Yves Smith 1:58 am

• Foreclosure Filings Rose 81% in 2008
  by Yves Smith 12:35 am

• Mother-In-Law Research and JP Morgan
  by Yves Smith 12:14 am

January 14, 2009

• US Negotiating to Backstop BofA Purchase of Merrill
  by Yves Smith 5:42 pm

• Wolf Versus Pettis on US Stimulus, Fiscal Deficit (Not for the Fainthearted)
  by Yves Smith 10:43 am

• Links 1/14/09
  by Yves Smith 3:32 am

• Asia-Europe Shipping Rates Drop to Zero
  by Yves Smith 2:49 am

• "Bernanke an Expert on the Great Depression??"
  by Yves Smith 2:12 am

January 13, 2009

• Chrysler End Game Nigh? Talks on With Renault and Magna
  by Yves Smith 11:50 pm

• TARP Arm-Twisting Begins Again
  by Yves Smith 11:28 pm

• Setser: Hot Money Fleeing China
  by Yves Smith 6:18 pm

• FT: Citi to Split Investment and Commercial Bank
  by Yves Smith 3:12 pm

• Links 1/13/09
  by Yves Smith 4:40 am

• Will Gulf States Beat the US in the Green Energy Push?
  by Yves Smith 3:10 am

• Options Traders Volatility Bets Suggest Stock Rally Will Resume
  by Yves Smith 2:14 am

January 12, 2009

• Is Bush Tanking Stocks to Grab the Remaining $350 Billion TARP?
  by Yves Smith 10:48 pm

• Links 1/12/08
  by Yves Smith 3:52 am

• Why So Little Self-Recrimination Among Economists?
  by Yves Smith 3:26 am

• China to Relax Bad Debt Rules to Encourage Lending
  by Yves Smith 1:19 am

• Some Cautionary Observations from Marc Faber
  by Yves Smith 12:13 am

January 11, 2009

• Bond Recovery in Bankruptcies Likely to Be Far Lower Than in Past Downturns
  by Yves Smith 10:41 pm

• Links 1/11/08
  by Yves Smith 3:45 am

• "Bullshit Promises"
  by Yves Smith 2:49 am

January 10, 2009

• WSJ: Chinese Imports, Exports Continued to Fall in December
  by Yves Smith 10:41 pm

• Chase Behaving Badly: Unintended Consequences of the Fed’s New Credit Card Rules
  by Yves Smith 9:02 pm

• Links 1/10/09
  by Yves Smith 3:50 am

• Chinese Central Bank to Test Program to Settle Trade in Yuan Rather Than Dollars
  by Yves Smith 2:03 am

• Citi on Its Way to Breakup?
  by Yves Smith 12:32 am

January 9, 2009

• Rubin Resigns from Citi; Bank to Sell Smith Barney
  by Yves Smith 3:53 pm

• Links 1/9/08
  by Yves Smith 3:30 am

January 8, 2009

• Dividends: What the Bank Giveth, the Bank Now Taketh Away
  by Yves Smith 11:45 pm

• Quelle Surprise! Hedge Funds Had a Horrible 2008, Lost 18%
  by Yves Smith 11:21 pm

• Links 1/8/09
  by Yves Smith 3:42 am

• NY Times: China Cooling on US Debt
  by Yves Smith 1:37 am

• CBO: Seeing Stars? ($1.2 Trillion Deficit Edition)
  by Yves Smith 12:01 am

January 7, 2009

• Links 1/7/08
  by Yves Smith 2:48 am

• More Bad News Out of China, Including Capital Flight
  by Yves Smith 1:19 am

• Private Equity Firms Expected to Show 20-30% Losses for 2008
  by Yves Smith 12:01 am

January 6, 2009

• Quelle Surprise: Manhattan Apartment Sales, Office Rentals Fall
  by Yves Smith 3:25 pm

• Krugman Runs Stimulus Numbers and Finds Obama Plan Wanting
  by Yves Smith 2:06 pm

• Links 1/6/08
  by Yves Smith 2:52 am

• "The myth of the riskometer"
  by Yves Smith 2:44 am

January 5, 2009

• Poor Old Hedgies Face More Rough Sailing
  by Yves Smith 11:05 pm

• Links 1/5/08
  by Yves Smith 2:49 am

• Willem Buiter Calls for Less US Stimulus, Expects Collapse in Price of Dollar Assets
  by Yves Smith 12:22 am

January 4, 2009

• Obama Considering $310 Billion Tax Cut
  by Yves Smith 7:38 pm

• Links 1/4/08
  by Yves Smith 3:47 am

• Woefully Misleading Piece on Value at Risk in New York Times
  by Yves Smith 3:04 am

January 3, 2009

• Links 1/3/08
  by Yves Smith 5:11 am

• Cautionary Tales: Central Bank Liquidity Injections Made Crises Worse in Latin America
  by Yves Smith 4:20 am

• More Real Estate Porn
  by Yves Smith 3:05 am

• New York Times Gives Pride of Place to Economists Who Badly Misread Downturn
  by Yves Smith 12:48 am

January 2, 2009

• Links 1/2/09
  by Yves Smith 1:51 am

• Chinese Factory Output, Employment Falls at Record Pace
  by Yves Smith 1:08 am

• Hybrid Car Sales Fell Sharply in November
  by Yves Smith 1:00 am

January 1, 2009

• Past Financial Crises Suggest Pain Far From Over
  by Yves Smith 9:41 pm

• Links Happy New Year!
  by Yves Smith 1:13 am