Tasmanian devils now endangered BBC Explosions in the Lab Slate Dick Cheney: Washington trembles at the return of ‘Darth Vader’ Guardian Geithner Adopts Part of Wall Street Derivatives Plan Bloomerg. Goldman, JP Morgan, and friends get what they wanted. Tiverton Work Shows Stimulus Not Denting Job Losses Bloomberg Sorry Greg, This Crisis Was Completely Predictable […]
Read more...In 2007, Dean Baker proposed an idea he called “own to rent“, in which homeowners facing foreclosure would be given the option of staying in their home indefinitely, provided they paid market rent. The notion was that stressed families would be spared the cost and disruption of moving if they were indeed viable renters (a […]
Read more...Submitted by Jesse of Le Café Américain “We are out of money.” Barack Obama May 23, 2009 Obama openly says what anyone with common sense has known for quite some time: the US is broke, and will not be able to honor in full its financial and fiduciary obligations. The question remains how the US […]
Read more...Submitted by Edward Harrison of the site Credit Writedowns. A recent post I published on both Credit Writedowns and Naked Capitalism, “Both initial claims and continuing claims now pointing to recovery,” has left the impression that I am a wild-eyed bull – for which I have been duly smacked about the head. This is far […]
Read more...PARO: Therapeutic Baby Seal Robot! Inhabitots Edmund Andrews Explains His Decision to Omit his Wife’s Bankruptcies Megan McArdle RealtyTrac: 500,000 REOs being held off the market BubbleMeter Mass Layoff Events Pick Up, Faciliate EPS Beats Tyler Durden Regional Federal Reserve Banks Think the Geithner-Bernanke-Summers Plan Is Failing the Real Economy Jesse Prospect of LP Defaults […]
Read more...Having seen what Cerberus has done to one of its acquirees (New Page, a group of mills that produce coated paper), nothing should surprise me. But the way that Chrysler treated its dealers as stuffees, pressuring them take extra inventory and make extra investments in plant and facilities shortly before the dealerships were cancelled, is […]
Read more...Submitted by Leo Kolivakis, publisher of Pension Pulse. Fiscal 2009 Portfolio Performance by Asset Class CPP FUND RETURNS Asset Class Fiscal 09* Fiscal 08* Canadian public equities -32.3% 3.2% Canadian private equities -7.8% 2.2% Public Foreign developed market equities -29.7% -13.9% Private Foreign developed market equities -17.8% 8.5% Public emerging market equities -32.6% N/A** Private […]
Read more...Rare white seal caught on camera BBC Cattle Rustling Increases As Economy Gets Worse Boom2Bust The Road to Bankruptcy Megan McArdle (hat tip reader Scott C) Private equity consortium wins BankUnited auction Financial Times Global electricity use forecast to fall Financial Times. Wow. Bankruptcy surgery revives Chrysler after all Reuters. This article is a Pangloss […]
Read more...The very fact that it took such a long headline to explain the latest (possible) Treasury bouquet to the TARP recipients says the odds are high the troubling scenario will come to pass. With the Fed a combo hedge fund/SIV and the Treasury actively engaged in regulatory arbitrage (evading budgetary restrictions by making clever use […]
Read more...I always enjoy reading the Financial Times’ editor, Martin Wolf, but I sometime forget how refreshing and pointed he can be when he decides to let loose at a deserving target. Today’s lesson is the almost ludicrous efforts of the financial services industry to explain why the debacle that they just foisted on all of […]
Read more...I returned this week from giving a speech in Washington State to a very nice group of economists (the Pacific Northwest Regional Economic Conference, if you must know). I sat in on some of the other presentations. One, on the challenges of measuring inflation, had speakers from the BLS and the BEA. The BLS presentation […]
Read more...The notorious Public Private Investment Partnership, aka “Son of MLEC,” was supposed to be up and running as of early May but its debut has instead been pushed off to July. The need to sort out some details is the official reason for the delay, but the Financial Times’ Gillian Tett says that the banks […]
Read more...It’s been obvious to anyone who bothered paying attention that the Fed is increasingly acting as an extension of the Administration, without the oversight and disclosure to which the Executive Branch is subject. For instance, only the Federal Reserve Board of Governors appears to be obligated to honor to Freedom of Information Act requests (the […]
Read more...Submitted by Edward Harrison of the site Credit Writedowns. I’m back after a brief hiatus. I would like to present you with some data on jobless claims, an economic data series that will become increasingly important in the weeks and months ahead. The data suggest that a recovery is imminent. This should come as no […]
Read more...Country GP tells how he saved boy with home drill The Age (hat tip reader Shannon) NZ hunts accidental millionaires BBC (hat tip reader Steve L) Can “Terminators” Actually be our Salvation? h+magazine AIG’s Whistleblower? Independent Accountant The Economics of CAFE James Kwak Republicans, the Stupid Party; it’s Much Worse than I Thought (Niall Ferguson […]
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