Fannie Mae will need a bailout (prophesy)
By Divorced one like Bush ”From the perspective of many people, including me, this is another thrift industry growing up around us,” said Peter Wallison a resident fellow at the American Enterprise...
View ArticleThe ‘Dr. Doom’ Prescription
by Tom Bozzo From my inbox this morning, Nouriel Roubini says, “The world is at severe risk of a global systemic financial meltdown and a severe global depression.” (Tell me something I don’t know.) Go...
View ArticleHank Paulson’s Two Choices Explained
Right now, Hank Paulson has two choices. or Right now, he claims to be pushing toward the second, but isn’t getting out of the cab. The post Hank Paulson’s Two Choices Explained appeared first on Angry...
View ArticleWasting More Money
The leadership at Wells Fargo must be royally peeved at this point: Stable national players like Bank of America, JPMorgan Chase, and Wells Fargo are already digesting acquisitions. A second group of...
View ArticleSo Why Did we Give SunTrust "bailout buying" money?
Via Dr. Black, Alpha Bank and Trust of Alpharetta is now FDIC-owned. In related news, PNC is paying about $5.6 billion for midwest-based National City, which was a major player in subprime until...
View ArticlePanic of 1873 Redux?
Was the Great Depression really THE Great One? Apparently not, according to Scott Reynolds Neslon, 19th century historian. The Real Great Depression was the Panic of 1873 [fixed]. The parallels to...
View ArticleShiela C. Bair Tries to Save the World–Again
Via Felix, we discover Joe Nocera at the NYT reporting that securitization professionals are not as stupid as they would have had us believe: What [the FDIC] has discovered, said [Michael H....
View ArticleAnother Meme Busted beyond Repair
Brad DeLong sends us to Rex Nutting at MarketWatch: U.S. nonfarm payrolls plunged by an astonishing 533,000 in November, the worst job loss in 34 years, the Labor Department reported Friday. It’s only...
View ArticleThis Makes More Sense–or Does It?
Dr. Black (you know the site) links to AIG Strike Three. And unlike the Citi debacle previously discussed (relatively) positively and rather negatively here, this one makes some form of sense. The...
View ArticleThe Two Sides of AIG
In this corner, as previously mentioned, Yves Smith goes for the slam dunk: Let’s see, the credit default swaps market, due to some netting, is now somewhere north of $30 trillion (as opposed to its...
View ArticleNot Quite Hoisted from Comments: Laugh or Cry?
Tom Bozzo …in the absence of blogging inspiration, had the exchange below the fold today on a well-known social networking website. Tom is Dear Markets, just because I don’t have any money in stocks...
View ArticleThere is a difference between then and now?
By divorced one like Bush The following from Robert’s post got me thinking about railroads. “There have been three big banking booms in modern U.S. history. The first began in the late nineteenth...
View ArticleMorgan Stanley Plans to Turn Downgraded Loan CDO Into AAA Bonds
by divorced one like Bush Well, well, well, seems our Robert will have some more thinking to do. Via C & L to Radamisto who want’s to know if we have ADD or what comes the Bloomberg story that the...
View ArticleWednesday reports released
The NYT reports on the Financial Crisis Inquiry Commission. “The Republican members of the commission appointed by Congress to investigate the causes of the financial crisis plan to release on...
View ArticleCalculated Risk commentary: Subprime Thinking
Commentary: Subprime Thinking from Wednesday morningre-posted with permission from the author When I started this blog in January 2005, one of my goals was to alert people to the housing bubble, and to...
View ArticleObama road tests hopey changey 2.0
Yves Smith spells out her strong opinion of our dilemma nationally for the elections of 2012. This particular arena of regulating banks and non banks and and accountability also takes on a wider...
View ArticleEuro area troubles, banks, and sovereign debt connections
Economist Mark Blyth talks on Europe and rescuing the banks… See 35 minutes in on context for LIBOR troubles. (70% of the special investment vehicles designed to pump and dump mortgages belong to...
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