Dear patient readers, this is a bit of sentence first, verdict afterwards, but it is 6:00 AM and I have spent all day and all night dealing with copy edits and am still behind the eight ball and need to sleep too, or my productivity will go from poor to non-existent. So you get an […]
Read more...Ping me please @ yves@nakedcapitalism.com, thanks! Yes, this is reminiscent of Desperately Seeking Susan, hopefully without a missing jacket and amnesia.
Read more...Submitted by Edward Harrison of Credit Writedowns Back in April I told you I anticipated an uptick in GDP in part because of changes in inventories – massive change in the inventories. At the time, I thought I was going out on a limb by suggesting we could see positive GDP numbers in Q3 and […]
Read more...By George Washington of Washington’s Blog. The talking heads say that financial blogs aren’t trustworthy. But the whole debate about blogs versus mainstream media is nonsense. In fact, many of the world’s top PhD economics professors and financial advisors have their own blogs. For example (in no particular order): Nouriel Roubini Paul Krugman Nassim Nicholas […]
Read more...Unhealthy men ‘may lose 10 years’ BBC. Here comes the Z5 Jerusalem Post (hat tip reader John D). Saves gas and reduces air pollution. Some fires are best left to burn out William White, Financial Times (hat tip reader Don B) BlackRock’s Fink Says Obama Loan Rules Threaten Mortgage Market Bloomberg (hat tip reader Scott). […]
Read more...Reader Scott pointed out this BankImplode story, “Exclusive – Wells Fargo’s Commercial Portfolio is a ticking time bomb.” I can’t verify it, but it sounded plausible and contained some juicy details: Wachovia, which Wells purchased last fall as it teetered on the brink of collapse, was so desperate to increase revenue in the last few […]
Read more...The Wall Street Journal has a headline that would warm the cockles of any populist’s heart: “Bankers Face Sweeping Curbs on Pay.” And even more impressive, who is going to rein in banker compensation? The Fed. That alone should tell you there is less here than meets they eye. Let’s look at the outline of […]
Read more...Taking showers ‘can make you ill’ BBC China Will Be an Even Bigger Bubble Than Japan Pragmatic Capitalist Volcker Sees ‘Long Slog’ for U.S. Economy, Seeks Bank Limits Bloomberg Norman Borlaug, Michael Jackson, and the Invisible Hand Cactus, Angry Bear China to world: No more shiny metals for you FT Alphaville Exposure at Default: As […]
Read more...Last year when oil was skyrocketing, peak oil talk was all the rage. Now you hear nary a peep save from the diehards. But commodity prices are grinding upward, in the face of rather sizable inventories. Jim Hamilton also suggested a connection that has been generally overlooked, namely, that it was the oil/commodities price spike […]
Read more...Let’s see, Leon Black of Apollo Management, which is a very savvy real estate player, warned of a coming “black hole” in commercial real estate six months ago. US bank regulators seem to be taking warnings of his sort seriously only now. The Fed is poking its nose into the portfolios of some banks, oddly […]
Read more...We’ve note during the well-warranted furor over the dreadful performance of rating agencies in assigning credit grades to structured credits, a business that was handsomely profitable to them, that it was difficult to limit their impact. Ratings are enshrined in all sorts of regulations, from the Fed’s haircuts on its discount window to its alphabet […]
Read more...By Swedish Lex, an expert and advisor on EU regulatory and political affairs. The City’s political clout in Brussels is waning as the UK’s financial industry model has gone from being the envy of the European peers to being a liability. Meanwhile, the EU will in the future probably be proposing new banking and financial […]
Read more...By Thomas Adams, at Paykin Krieg and Adams, LLP Denial Was Rampant in the Buildup to the Financial Crisis. Arguments that Lehman Should Have Been Bailed Out Show that Denial Continues Today While this week marks the first anniversary of the shocking collapse of Lehman Brothers, it is also the second anniversary of the events […]
Read more...Dear patient readers, I will not bore you with details, but we had some technical difficulties. I could not view or access the site since late afternoon yesterday, and was therefore unable to post. I gather many readers could still view the site (at least until this morning) but could not comment. This WordPress transition […]
Read more...Submitted by Edward Harrison of Credit Writedowns Say I’m a politician and I am concerned about my re-election prospects in 2010. I have been a member of Congress for seven years now and have developed a good reputation as a reform-minded economic realist willing to listen to a number of competing economic ideas. However, right […]
Read more...