http://www.businessinsider.com/only-4-banks-failed-this-week-2009-7
Still no resolution of Corus or Citi
Focusing on current trends and ways to profit from them "There's a sucker born every minute. These are the people who believe that this time it's different. "
Saturday, July 18, 2009
Friday, July 17, 2009
Stimulus spending faces red tape bottlenecks - Eye on the Economy- msnbc.com
Stimulus spending faces red tape bottlenecks - Eye on the Economy- msnbc.com
If ever there was a sign what a huge waste the stimulis is was this is it. Also it should be cold shower to anyone who thinks the government can do it better. If they wanted results they should have given the money directly or not done it at all.
If ever there was a sign what a huge waste the stimulis is was this is it. Also it should be cold shower to anyone who thinks the government can do it better. If they wanted results they should have given the money directly or not done it at all.
Bank of America Posts Profit Drop, Sees Weak Economy (Update1) - Bloomberg.com
Bank of America Posts Profit Drop, Sees Weak Economy (Update1) - Bloomberg.com
Still big problems here.
Disclosure
Short BOA
Still big problems here.
Disclosure
Short BOA
AIG’s European Derivatives May Take Decades to Expire (Update1) - Bloomberg.com
AIG’s European Derivatives May Take Decades to Expire (Update1) - Bloomberg.com
Thanks to all us, the taxpayers, we are back stopping this.
“There’s no question that asset values have soured on a global basis. With the faith and credit of the U.S. government backing those guarantees, why would they give that up?”
Thanks to all us, the taxpayers, we are back stopping this.
“There’s no question that asset values have soured on a global basis. With the faith and credit of the U.S. government backing those guarantees, why would they give that up?”
Thursday, July 16, 2009
MGIC to halt new business; posts steep loss | Markets | Markets News | Reuters
UPDATE 2-MGIC to halt new business; posts steep loss Markets Markets News Reuters
Is it me or are we reapting last year. First the run up in Oil, now MGIC in trouble. Damn what is next, oh yeah CIT goes BK tomorrow, ala Lehman.
Is it me or are we reapting last year. First the run up in Oil, now MGIC in trouble. Damn what is next, oh yeah CIT goes BK tomorrow, ala Lehman.
Mish's Global Economic Trend Analysis: Foreclosure Filings Hit Record 1.5 Million; One in Eight Americans Delinquent; Obama's Mortgage Rescues Create ‘Confusion’
Mish's Global Economic Trend Analysis: Foreclosure Filings Hit Record 1.5 Million; One in Eight Americans Delinquent; Obama's Mortgage Rescues Create ‘Confusion’
As a said some time ago, stopping foreclosure and unemployment from accelerating should be the only priority.
Instead we get heath care, cap and trade and supreme court nominations.
As a said some time ago, stopping foreclosure and unemployment from accelerating should be the only priority.
Instead we get heath care, cap and trade and supreme court nominations.
Now Watch The CIT Backlash Begin
Now Watch The CIT Backlash Begin
Wow, we are going to let the markets work. Not sure what happen must be the sun.
Wow, we are going to let the markets work. Not sure what happen must be the sun.
Wednesday, July 15, 2009
Obama Punting On Fannie, Freddie Could Prove Costly
Obama Punting On Fannie, Freddie Could Prove Costly
Why worry, the only have 1/4 of all the mortage paper in the US? I mean how bad could the loses get? If we are int the 4 or 5 inning it could be bad.
Why worry, the only have 1/4 of all the mortage paper in the US? I mean how bad could the loses get? If we are int the 4 or 5 inning it could be bad.
Florida ‘a state in trouble’ - South Florida Business Journal:
Report: Florida ‘a state in trouble’ - South Florida Business Journal:
No big shock here. Florida needs to do some soul searching to fix it issues.
No big shock here. Florida needs to do some soul searching to fix it issues.
The Great Cabernet Ripoff - Page 1 - The Daily Beast
The Great Cabernet Ripoff - Page 1 - The Daily Beast
Drink what you like. Don't use price as a factor. And for the love of god don't drink white zinfandial.
Drink what you like. Don't use price as a factor. And for the love of god don't drink white zinfandial.
American Express suspends payments into UK stakeholder pensions - Telegraph
American Express suspends payments into UK stakeholder pensions - Telegraph
Following up from several months ago. American Express appears to be in serious trouble. This is just a further sign of what they are doing. Along with massive credit line cuts.
Following up from several months ago. American Express appears to be in serious trouble. This is just a further sign of what they are doing. Along with massive credit line cuts.
Latvia PM says latest talks with IMF difficult - Forbes.com
Latvia PM says latest talks with IMF difficult - Forbes.com
More problems as the IMF push Latvia to the edge.
More problems as the IMF push Latvia to the edge.
CIT Presses U.S. Regulators for Aid to Forestall Cash Crunch - Bloomberg.com
CIT Presses U.S. Regulators for Aid to Forestall Cash Crunch - Bloomberg.com
Bank run in progress, please help. Really?
Bank run in progress, please help. Really?
Calpers Sues Over Ratings of Securities - NYTimes.com
Calpers Sues Over Ratings of Securities - NYTimes.com
I am surpirsed it took this long.
I am surpirsed it took this long.
Tuesday, July 14, 2009
News from 1930: Monday, July 14, 1930: Dow 229.23 +4.37 (1.9%)
News from 1930: Monday, July 14, 1930: Dow 229.23 +4.37 (1.9%)
or 2009
or 2009
Important economists strongly believe current seasonal lull is low point of
the industrial depression; some good news in week-over week freight increase
and
June rise in construction contracts. Drop in steel backlog not as bad as
feared;
oil curtailment making progress; increase in rail freight
rates.
Spitzer Says Banks Made ‘Bloody Fortune’ on U.S. Aid (Update3) - Bloomberg.com
Spitzer Says Banks Made ‘Bloody Fortune’ on U.S. Aid (Update3) - Bloomberg.com
If only hooker had jack you life up people might care more.
If only hooker had jack you life up people might care more.
Drug cartels launch Mexico's 'Tet offensive' | csmonitor.com
Drug cartels launch Mexico's 'Tet offensive' csmonitor.com
Least you think I forgot about Mexico.
Least you think I forgot about Mexico.
Average length of unemployment highest since 1948. - WSJ.com
Average length of unemployment highest since 1948. - WSJ.com
Right on target. We may have plateau but the end is not near.
Right on target. We may have plateau but the end is not near.
Retail Sales Still Stink | The Big Picture
Retail Sales Still Stink The Big Picture
No big surprise here and from yesterday post we can expect July to be worse.
No big surprise here and from yesterday post we can expect July to be worse.
The Doctrine of Preemptive Bailouts and the Biggest Bailout you haven’t Heard About: The U.S. Treasury Plan C and the $3.5 Trillion You will be Paying.
The Bust of the Williamsburg Condo Boom -- New York Magazine
The Bust of the Williamsburg Condo Boom -- New York Magazine
Awesome read. Just remember Condo's are not caculted in the housiong numbers. So we have a whole bunch of foreclosed properties not even counted.
Awesome read. Just remember Condo's are not caculted in the housiong numbers. So we have a whole bunch of foreclosed properties not even counted.
Monday, July 13, 2009
Don't Gamble On Casino Stocks-Minyanville
Don't Gamble On Casino Stocks-Minyanville
My sense as well, we over played the rally. This article talks retail which is the back bone of the recovery. Does not look good.
My sense as well, we over played the rally. This article talks retail which is the back bone of the recovery. Does not look good.
Detroit Public School System Ponders Bankruptcy
Mish's Global Economic Trend Analysis: Detroit Public School System Ponders Bankruptcy
I agree this is one of many pension blow ups on the horizon.
I agree this is one of many pension blow ups on the horizon.