No surprise here. The Fed is extending some of its lending facilities which were set to expire on January 30th to April 30th. Across the Curve had a nice take on the money markets and the Fed’s support thereof. Be sure and read the last sentence which goes to the issue of reducing these support […]

If not the biggest news of the day, the biggest media event was the Obama meeting with the National Association of Governors. It was a big love-in which shouldn’t come as any surprise when a large group of beggars gets together with the only guy with money in the town. Carefully scripted as well were […]

I came across this today and I’m still digesting it. Bill Gross, in his monthly epistle, opines on the relative value of equities and why they aren’t as cheap as many think. I have a post I started before this miserable flu bug hit and hopefully will finish this week. Essentially, I agree with Gross that the […]

First, the automakers turned in another awful performance. November car sales were down 31% while truck and van sales fell 24%. Here is the body count: GM                                    -41% Ford                                  -34%    Chrysler                            -47% Toyota                              -34%  Honda                              -32% All of those are November as compared to October numbers. Naturally, this news just happened to fall on the first day of […]