Archive for February 22nd, 2009

Quote Of The Day

There is one elementary truth, the ignorance of which kills countless ideas and splendid plans: the moment one definitely commits oneself, then Providence moves too. All sorts of things occur to help one that never otherwise would have occurred…Whatever you can do, or dream you can do, Begin it. Boldness has genius, power and magic [...]

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What Will We Learn From The Bank Stress Tests?

I haven’t written anything about this and I don’t intend to waste a lot of pixels doing so but let me quickly give you my opinion of the forthcoming bank “stress tests”. Nothing more than propaganda. Here is an excerpt from a New York Times article this evening on the tests. On Friday, Treasury and [...]

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Citi Is Asking The Government To Convert Its Preferred-What’s Up?

Go out to dinner and the whole world crashes down. Give me a break. Apparently, according to the WSJ, Citi is in talks with the government about converting its preferred stock interest into common stock. The details are anything but clear, however, here is how the WSJ is reporting it: Under the scenario being considered, a [...]

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SoCal Median Prices: What Do They Really Tell Us?

The LA Times had an interesting article a couple of days ago. It noted that median home prices were starting to come into line from an historical perspective with median incomes. Two housing analysts had somewhat divergent views of what this means. First, here is the chart they posted: There is virtually no explanation as [...]

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RBS: The First Domino?

The Times is reporting that the Royal Bank of Scotland is going to be restructured via the good bank/bad bank route. The details are evidently still being sketched out but the article does have some pretty good information. One thing it mentions is that several hundred billion dollars worth of assets are going to be [...]

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A Couple Smart Guys Say We’re FUBAR

I was ready to give up and get some sleep when I ran across this one. It’s from Reuters and I’ll just paste it in here so you have something to think about as you go to sleep. NEW YORK (Reuters) – Renowned investor George Soros said on Friday the world financial system has effectively [...]

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Quote Of The Day

To be clever enough to get all that money, one must be stupid enough to want it.                                                 G. K, Chesterson

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