Archive for February 11th, 2009

Quote Of The Day

This goes out to the bankers who endured Maxine Waters today.                                     “A thick skin is a gift from God.”                                                                     Konrad Adenauer

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What’s Behind Geithner’s Stress Test?

I’ll probably follow this up with some more comments tomorrow but for now take a look at the New York Times article on Geithner’s “stress testing” and what might transpire. Keep in mind that the article is speculative but probably pretty close to reality. Nearly 100 federal banking regulators descended on Citigroup in New York on [...]

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Can Congress Level With The Public?

We all to some extent exist in separate realities. Normally they aren’t too different which allows us to co-exist with our neighbors. Every now and then they get radically out of line, communication becomes impossible and the state has to step in and control the party that has strayed too far from the norm. What [...]

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What Hath Congress Wrought

Here is some data that indicates the recession is starting to bite the upper income strata. Toll Brothers saw their quarterly revenue declined by half as a result of contract cancellations for expensive homes ballooned. The quarter’s 157 cancellations, which totaled $115 million, hit the company’s higher-end offerings and occurred mainly in New York, Credit [...]

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Fannie And Freddie: More Money Needed And A Plan For More Risk

Fannie and Freddie are flying under the radar what with all the other things going on this week but that doesn’t mean there isn’t some news out of them that deserves attention. First off, the regulator of the two quietly let drop the news that they may need more than $200 billion in additional funding. [...]

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The Ordeal Of The Tarp 8

The House inquisition of the eight banking executives appears to be winding down-not that it should ever have been wound up. Predictably nothing was accomplished. Here are my observations for whatever they’re worth and they’re worth little more than the collective wisdom of our elected leaders that has been on display. The highlight of the [...]

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