Good Stuff To Read
Credit Suisse Declares the U.S. a Riskier Investment Than Indonesia
http://washingtonindependent.com/76529/credit-suisse-declares-the-u-s-a-riskier-investment-than-indonesia
This is too much. Either CS is long CDS on US Debt or selling CDS on Indonesia? What is it? Also, lets just count the Nuclear Weapons? Shall We?
Handy sovereign risk table
http://ftalphaville.ft.com/blog/2010/02/10/146606/handy-sovereign-risk-table/
More Credit Suisse Conspiracies.
Wall Street's Race to the Bottom
http://online.wsj.com/article/SB20001424052748703630404575053514188773400.html
I like Elizabeth Warren. She is on the side of the good guys, but she is wrong when she says that for 50 years we avoided blow ups. We have had many blow ups, granted not as severe as the most recent recession, but nonetheless we have had issues because policy makers have sold out the public for the benefit of big business. There is no free market and capitalism is dead.
Not so risk-free
http://www.economist.com/businessfinance/displaystory.cfm?story_id=15498265
There is no risk free trade. Its basic arithmetic. Why do you think Geithner wants to extend the duration of US Debt? Extend and Pretend Baby!
The Fed's Exit Strategy - Mark Thoma
http://moneywatch.bnet.com/economic-news/blog/maximum-utility/the-feds-exit-strategy/455/
Excellent! You can always learn something from Mr. Thoma.
Chris Hedges on the Corporatocracy
http://www.truthdig.com/avbooth/item/chris_hedges_on_the_corporatocracy_20100214/
"Democracy in America is a useful fiction and a myth." Well Said! "Obama is a Brand!" Even Better Said! Corporations, lobbyists, and Congress have used fear to make Democracy inoperable. I posted about the Permanent War Economy merged into the Perennial Corporate State yesterday, Mr. Hedges talks more about this in this piece.
Bank America Forecloses on Home that was already paid in Cash
http://www.tampabay.com/news/business/realestate/bank-of-america-forecloses-on-house-that-couple-had-paid-cash-for/1072632
These things happen when you have incompetent people working at banks, let alone the morons who are running the banks.
NJ GOV Freezes Spending
http://wcbstv.com/local/governor.christie.freezes.2.1487727.html
And to think I thought my Property Taxes were going down. Starve the beast!
‘Volcker rule’ gives Goldman stark choice
http://www.ft.com/cms/s/0/121fe9d0-1753-11df-94f6-00144feab49a.html
Its a disgrace that Goldman is a bank. The simple fact that they converted to BHC tells you they were in the same position as Lehman and Bear. That's why they were saved by Geithner and Paulson.
Georgia Gives Banks More Rope
http://online.wsj.com/article/SB20001424052748704337004575059823971151054.html
You only need more rope in the event you want to hang yourself. It just deepens the crisis as extend and pretend is now officially a law in Georgia. This is all we need. Banks to be highly concentrated to a single borrower. How is this a good idea? Because the tax payers of Georgia are on the hook if the banks default. Now you know why business like it so much.
Cost of Insuring Dubai's Debt Jumps
http://online.wsj.com/article/SB10001424052748703525704575061303885133636.html
Not a surprising story. Dubai 5YR CDS at 632BP. The impending implosion in European debt markets only means that Dubai won't have to pay those debts either.
How Christian Were the Founders?
http://www.nytimes.com/2010/02/14/magazine/14texbooks-t.html?em=&adxnnl=1&adxnnlx=1265937003-BOUagCBag382YrLNgCumsQ&pagewanted=all
If you have a few hours to kill.
Collapse of the euro is 'inevitable'
http://www.dailymail.co.uk/news/worldnews/article-1250433/Greece-debt-bailout-EU-leaders-split-euro-crisis.html
Putting band aids on cancer is not policy. Albert Edwards from SocGen has written in the past about how Central Bankers have murdered the public to the enjoyment of the Wealthy. I am shocked that people still think the the UK should join the EU.
For Some Firms, a Case of 'Quadrophobia'
http://online.wsj.com/article/SB10001424052748704479704575061481908470618.html
More stupid accounting tricks to pump up quarterly numbers that make CEO's Rock Stars.
The gods strike back
http://www.economist.com/specialreports/displaystory.cfm?story_id=15474137
You got to love Black Swans!
Wall Street Helped Greece to Mask Debt
http://www.nytimes.com/2010/02/14/business/global/14debt.html?hp=&adxnnl=1&adxnnlx=1266253215-BLchs6vklzIKMYAwYoaORA
Follow the money. Goldman is never too far when these type of shenanigans are taking place. Bankers want to convince politicians that extending problems into the future is very beneficial for the present. Let me say that bankers didn't enable Greece's problems, but they did enable them to mask the extent of the problems.
Greece Turns on EU Critics
http://www.ft.com/cms/s/0/3cfeab9e-1813-11df-91d2-00144feab49a.html?nclick_check=1
Just like a switchblade, Greece will also turn on the entire EU.
'A Churchillian Defense of the Markets'
http://online.wsj.com/article/SB20001424052748703525704575061412951235830.html
36MM people around the globe have lost their jobs in the current downturn. Mr. Green from HSBC talks a good game but we tax payers need results, reform, and regulations. Where are they?
The New Deal in Reverse
http://motherjones.com/politics/2010/02/new-deal-reverse
The headline says it all.
No comments:
Post a Comment