Monthly Archives: February 2009

February 28, 2009

• Links 2/28/09
  by Yves Smith 12:10 am

February 27, 2009

• US to Convert Preferred Shares in Citi to Common at 32% Premium to Market Price
  by Yves Smith 8:21 am

• Links 2/27/09
  by Yves Smith 12:38 am

• More on the Simply Dreadful Performance of CDOs
  by Yves Smith 12:18 am

February 26, 2009

• Links 2/26/09
  by Yves Smith 1:01 am

• AIG Breakup LIkely
  by Yves Smith 12:52 am

• Goldman: China Tax Receipts Show Marked Fall in Incomes
  by Yves Smith 12:24 am

• Is the Treasury Planning on a Near Term Recovery in Bank Stocks?
  by Yves Smith 12:01 am

February 25, 2009

• Taleb Attacks Wall Street Bonuses
  by Yves Smith 11:00 am

• Some Slightly Good News: Feds Trying to Engage in More Serious Oversight of Citigroup
  by Yves Smith 1:17 am

February 24, 2009

• Japan Exports Fall By 46% in January, Producing Record Trade Deficit
  by Yves Smith 8:30 pm

• Links 2/25/09
  by Yves Smith 7:12 pm

• Links 2/24/09
  by Yves Smith 2:55 am

• AIG to Retrade Its Bailout Yet Again? (Banana Republic Watch)
  by Yves Smith 1:43 am

February 23, 2009

• From the Banking Officialdom: So This is Meant to Reassure?
  by Yves Smith 4:59 pm

• Links 2/23/09
  by Yves Smith 2:30 am

• Treasury Soliciting Bankruptcy Funding for GM, Chrysler
  by Yves Smith 1:22 am

February 22, 2009

• Now It’s Official: Stress Test Results Pre-Determined
  by Yves Smith 10:31 pm

• Citi Endgame Nigh?
  by Yves Smith 8:53 pm

• Links 2/22/09
  by Yves Smith 5:30 am

• More on That Dirty Word "Nationalization" and Possible Approaches
  by Yves Smith 5:14 am

• More on Big Bank Endgames
  by Yves Smith 3:35 am

• Object Lesson: Consumer Frugality in Japan
  by Yves Smith 12:09 am

February 21, 2009

• Links 2/21/09
  by Yves Smith 2:45 am

• We Talk to CNBC About Bank Nationalization
  by Yves Smith 12:25 am

• Is the Public/Private Plan Inferior to TARP?
  by Yves Smith 12:01 am

February 20, 2009

• White House Says Banks Should Stay Private
  by Yves Smith 3:34 pm

• Citi Stock Being Heavily Sold by Employees in Asia
  by Yves Smith 2:49 pm

• Links 2/20/09
  by Yves Smith 2:19 am

• Aggressive Reductions of Principal in Mortgage Mods Reduces Borrower Recidivism
  by Yves Smith 1:41 am

February 19, 2009

• New York Subpoenas Bank of America CEO on Merrill Bonuses (and Where is the SEC?)
  by Yves Smith 10:23 pm

• Why the Failure to Understand the Global Financial System?
  by Yves Smith 9:44 pm

• Links 2/19/09
  by Yves Smith 2:48 am

• Asian Container Traffic Tanked in January
  by Yves Smith 1:22 am

• Delusion Watch: 2/19/09
  by Yves Smith 12:40 am

February 18, 2009

• Greg Mankiw in Favor of Nationalization (and Tries to Clean Up Nomenclature)
  by Yves Smith 10:07 pm

• "Asia diesel market seen going from bad to worse"
  by Yves Smith 5:56 pm

• Freudian Slip at the Financial Times?
  by Yves Smith 4:36 pm

• Links 2/18/08
  by Yves Smith 2:00 am

• Martin Wolf: Rethinking the Lessons of Japan’s Debt Unwind
  by Yves Smith 1:35 am

February 17, 2009

• Greenspan Predicts TARP Will Prove Insufficient, Supports Bank Nationalization
  by Yves Smith 10:36 pm

• Black Hole Alert: GM, Chrysler Seeking More Federal Support
  by Yves Smith 7:35 pm

• Links 2/17/09
  by Yves Smith 2:00 am

• William Black: "There Are No Real Stress Tests Going On"
  by Yves Smith 1:36 am

• So Much For Stimulus: Chinese Loans Diverted to Stocks, Feeding Rally
  by Yves Smith 12:31 am

• Dizard: Financial Industry Reform is in Limbo
  by Yves Smith 12:15 am

February 16, 2009

• Banks Tightening Screws Further on Hedge Funds
  by Yves Smith 10:20 pm

• Collateralized Loan Obligations: Another Time Bomb?
  by Yves Smith 9:36 pm

• Zeitgeist Watch: Kansas May Suspend Tax Refunds
  by Yves Smith 5:48 pm

• Links 2/16/09
  by Yves Smith 2:10 am

• Companies Paring Exposures to Risky Counterparts
  by Yves Smith 1:19 am

• Geithner and Summers Consolidating Power (Auto Bailout Edition)
  by Yves Smith 12:03 am

• Japanese Economy Shrinks at Nearly 13% Annual Rate in Q4: No Relief in Sight
  by Yves Smith 12:02 am

February 15, 2009

• Links 2/15/09
  by Yves Smith 2:10 am

• Will Eastern Europe Trigger a Financial Meltdown?
  by Yves Smith 1:55 am

• Obama to Neuter Bank Pay Restrictions
  by Yves Smith 12:09 am

February 14, 2009

• Links Valentine’s Day
  by Yves Smith 2:23 am

• "We Are Threatened by a Veritable Disaster"
  by Yves Smith 2:04 am

• Another Sign That Volcker is Marginalized (And a Preview of His Program)
  by Yves Smith 12:32 am

February 13, 2009

• North Carolina Attorney General Asks Bank of America to Describe and Justify Bonuses
  by Yves Smith 9:19 am

• Links 2/13/09
  by Yves Smith 3:20 am

• New York Times: US Going Down the Japan Path By Not Taking Out Dud Banks
  by Yves Smith 2:06 am

• China Showing Signs of Recovery?
  by Yves Smith 12:41 am

February 12, 2009

• We Talk to CNNMoney About Geithner Plan, Bank Nationalization
  by Yves Smith 3:55 pm

• Links 2/12/09
  by Yves Smith 3:23 am

• Bank Stress Testing: Less Than Meets the Eye
  by Yves Smith 2:54 am

• "European banks’ toxic debts risk overwhelming EU governments"
  by Yves Smith 1:59 am

• Irving Fisher’s Debt Deflation Theory and Its Relevance Today
  by Yves Smith 1:17 am

• Toxic Assets: Sellers Holding Out for Government Deal?
  by Yves Smith 12:19 am

February 11, 2009

• Links 2/11/09
  by Yves Smith 1:36 am

• China’s Exports Fall 17.5%, Most Since Asian Crisis
  by Yves Smith 12:15 am

February 10, 2009

• Geithner Plan Smackdown Wrap
  by Yves Smith 11:49 pm

• Chinese Bank Advisor Demands Guarantees on Its Treasury Bond Holdings
  by Yves Smith 8:55 pm

• Black Hole Alert: Fannie, Freddie Cash Needs May Exceed $200 Billion
  by Yves Smith 12:07 pm

• Links 2/10/08
  by Yves Smith 1:51 am

• Geithner Bank Bailout Plan: Fiasco
  by Yves Smith 1:28 am

February 9, 2009

• Financial Times’ Martin Wolf: Team Obama "Too Politically Frightened" to Admit US Banks Insolvent
  by Yves Smith 11:34 pm

• US Desire for Priority Repayment May Lead to GM, Chrysler Bankruptcy Filing
  by Yves Smith 9:03 am

• Links 2/9/08
  by Yves Smith 4:28 am

• Now It’s Semi-Official: MLEC to Rise From the Dead
  by Yves Smith 12:48 am

• Blankfein Advocates Partner-Like Compensation, More Regulation, Preservation of Mark to Market
  by Yves Smith 12:05 am

• Bond Investors Call Fed’s Bluff
  by Yves Smith 12:03 am

• Mark-to-Market, RIP?
  by Yves Smith 12:02 am

February 8, 2009

• EIA Gasoline Data: Too Often on the High Side
  by Yves Smith 10:18 pm

• Links 2/8/09
  by Yves Smith 1:24 am

• Steve Keen: "The Roving Cavaliers of Credit" (or Why Ben’s Helicopter Will Fail)
  by Yves Smith 12:50 am

• David Sirota: "Obama’s Team of Zombies" (Updated: Frank Rich on Geithner)
  by Yves Smith 12:49 am

February 7, 2009

• Recession Indicator: Paid Blood (Plasma) Donations Rising
  by Yves Smith 6:54 pm

• Links 2/7/09
  by Yves Smith 2:51 am

• Madame Defarge Watch: Pay Disparity in US Exceeds France Under Its Last King
  by Yves Smith 2:12 am

• Rogoff: "Is China Immune to Crisis?"
  by Yves Smith 1:31 am

February 6, 2009

• IBM Offshoring Its North American Employees
  by Yves Smith 5:55 pm

• Links 2/6/09
  by Yves Smith 5:03 am

• Willem Buiter: The US and UK as Banana Republics
  by Yves Smith 3:01 am

February 5, 2009

• Paulson Overpaid by $78 Billion for TARP Bank Equity
  by Yves Smith 11:14 pm

• Pimco’s Gross Calls for US to Spend Trillions to Save the Economy
  by Yves Smith 6:02 pm

• Coming to a Theater Near You: "Scumbag Billionaire"
  by Yves Smith 5:05 pm

• Credit Card Delinquencies Reach Record Level
  by Yves Smith 9:19 am

• Links 2/5/08
  by Yves Smith 4:09 am

• The Fed’s Bear Stearns Assets: "No Prospect for a Profit"
  by Yves Smith 2:26 am

February 4, 2009

• Guest Post: "Dear Mr. Volcker: It’s the Banks, Stupid"
  by Yves Smith 11:26 pm

• SEC Stonewalls at Senate Hearings on Madoff (and Congressional Fireworks!)
  by Yves Smith 7:28 pm

• More Real Estate Porn
  by Yves Smith 11:13 am

• Links 2/4/09
  by Yves Smith 4:42 am

• Obama’s Executive Comp Proposals: Closing the Gate After the Horse is in the Next County
  by Yves Smith 4:27 am

• Martin Wolf: "This Way Lies a Catastrophe"
  by Yves Smith 3:21 am

• The Bad Bank Assets Proposal: Even Worse Than You Imagined
  by Yves Smith 12:19 am

February 3, 2009

• Links 2/3/09
  by Yves Smith 3:07 am

• Twitter, Communication, and My Intermittent Inner Luddite
  by Yves Smith 2:52 am

February 2, 2009

• "The Rise and Fall of the US Mortgage and Credit Markets"
  by Yves Smith 11:40 pm

• Analyst Blames OPEC for Oil Price Plunge
  by Yves Smith 10:34 pm

• China: Agricultural Ministry Pegs Unemployment Higher than Wen; Official Warns of "Challenges to Social Stabilty"
  by Yves Smith 4:24 pm

• Links Groundhog Day
  by Yves Smith 3:00 am

• Veneroso: Japan on the Edge of the Abyss
  by Yves Smith 2:49 am

• Sentence First, Verdict Afterwards on TARP?
  by Yves Smith 12:24 am

February 1, 2009

• Willem Buiter: Mismanagement by the Officialdom Can Produce a Depression
  by Yves Smith 10:26 pm

• John Paulson Attacks Fellow Hedge Funds for Restricting Redemptions (and Implications for Banks)
  by Yves Smith 8:53 pm

• Links 2/1/09
  by Yves Smith 3:27 am

• "Fix the Accounting, Then Fix the System"
  by Yves Smith 2:27 am

• Unrest in China Worse Than Widely Reported
  by Yves Smith 1:14 am

• Revisionist History on FBI and Mortgage Fraud
  by Yves Smith 12:05 am