There seems to be more than a fair amount of sentiment that Congress is derelict in its duty in adjourning for several months in the middle of the worst economic crisis in whatever year you care to name. Let me suggest that it may be the best thing that can happen to us. It would […]

If you’re one who believes that there is little new under the sun than the following from the WSJ economics blog might well reinforce that view. It’s some thoughts from Irving Fisher, an economist who lost his shirt in the crash and then turned to analyzing the elements of the Depression. He outlines the problems […]

As unbelievable as it sounds, it looks as if Citigroup’s days may be numbered. The Wall Street Journal is reporting that there are high level meetings, including a board meeting tomorrow, that are reviewing the bank’s options. According to the Journal, among other considerations are the sale of various assets and the sale of the […]

Fannie and Freddie announced late today that they would suspend foreclosures until January 9th. From Reuters here is the story: Fannie Mae and Freddie Mac, the two biggest U.S. home loan finance companies, on Thursday said they would suspend foreclosures of occupied homes until early 2009, as the government moves to stem the tide of […]

It was a pretty historic day in the credit market with prices rising and yields falling to practically unheard of levels. Not only are yields unbelievably low but the speed at which they have fallen is unprecedented. Jansen at Across the Curve tells the story better than anyone. When you get to his site, the […]

Try this one on for size. FBR says that the financial system needs $1 trillion to $1.2 trillion pumped into it. They also hypothesize that it will take three to five years to return to normal. Remember-was it about a year or a little more ago-when Bernanke said the subprime crisis was completely containable and […]