Archive for January, 2009

Friday Failures: A Hat Trick For The FDIC

The FDIC (actually the state of Utah was involved in one) closed three banks today. The Utah bank was a big enough lemon that they couldn’t find anyone to pick up the pieces. From Market Watch, here are the details: Utah’s MagnetBank became the fourth bank failure of the year, and the Federal Deposit Insurance [...]

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GDP Numbers: Some Perspective

Not trying to put a happy face on the economic numbers today but some historical perspective is useful. I did some prowling around and came up with this. From Econobrowser: On the other hand, today’s number does not mean that the real value of goods and services produced in the U.S. fell by 3.8% in [...]

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Thoughts From Others On Mortgage Cram-Downs

I started compiling some of the articles that I’ve seen recently on cram-downs. I figured that since Congress seems intent on providing for the cram-down of residential mortgage debt in Chapter 13 it would be worthwhile to gather all of this in one place and then look back in a few months. On the off chance [...]

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If Only Our Leadership Understood This

Justin Fox at the  Curious Capitalist blog had a good, short post on his interview with Peter Thiel, the founder of Facebook. What struck me the most was Thiel’s opinion as to how we get out of this mess. Then what is going to restart it or who is going to fix it? I think if [...]

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GDP Numbers Come In Lower Than Expected: There’s A Reason Why

What appeared to be a good data point this morning, turned out on further analysis to be anything but that. Fourth quarter GDP declined at a seasonally adjusted annual rate of 3.8%. Economists had suggested the decline would be in the 5.5% range. The fly in the ointment was inventories which increased by $6.2 billion [...]

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Quote Of The Day

I usually don’t try and relate these quotes to anything specific but this one is too relevant to events.                                              Laws go where dollars please.                                                                       Portuguese Proverb

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Economists Sound Off On Fiscal Stimulus

I’m suffering from a miserable cold, so posting will be light this evening which ticks me off as there is a lot I want to write about. So, taking the easy way out, here are a couple of things pulled off the WSJ Real Time Economics site. What would the economy look like without fiscal [...]

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