Archive for March 5th, 2009

Obama’s Gift To The Home Builders

So much for change. The WSJ reports this evening that President Obama’s new budget includes a big payoff for large businesses including the home builders. As part of its $3.6 trillion budget blueprint unveiled last week, the administration proposed allowing large businesses to use recent tax losses to offset taxable profits earned in the past, and [...]

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GM May Consider Bankruptcy

Victories for the system as we used to know it are few and far between but tonight we might be on the cusp of one of them. The WSJ is reporting that GM appears to be “more open” to a bankruptcy reorganization. Top General Motors Corp. executives are more open to a speedy bankruptcy reorganization [...]

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Another European Bank Problem

I guess this is one of those good news/bad news stories. The Telegraph reported yesterday that European banks have built up a $2 trillion funding gap. The banks were basically borrowing in their local currencies to finance the acquisition of dollar assets. They have been able to cover their positions by buying dollars short term [...]

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Barney Frank: “Fed Has Lost Some Purity”

As most of you know, I’m becoming a bit of a bore when it comes to the subject of Fed independence. So, fair warning, here’s another little post on the subject. My favorite congressman, Barney Frank, had some hearings today on the future of financial regulation. Afterwards, he offered his opinion that the Fed should [...]

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More Foreclosure Plans From Washington

This morning Arnold King wrote that, “I predict that in 2015 we will still be reading op-eds with suggested refinements to the housing bailout.  That is because the whole concept of bailing out mortgage borrowers is misguided.” He goes on to compare the whole process to the attempts to control oil prices in the 1970′s. It’s a [...]

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The Daily Show Takes On CNBC

It’s everywhere today, so I guess I might as well put it up. Actually pretty amusing.   CNBC Gives Financial Advice Daily Show Full Episodes Important Things With Demetri Martin Political Humor Joke of the Day The Daily Show With Jon StewartM – Th 11p / 10c

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A Quick Roundup Of The Morning News

As the markets comes to grips with the fact that China is not going to conjure up some magic that will pull the world out of the doldrums, let’s do a quick wrap-up of the news and data. First, of course, is China. I didn’t understand all the heavy panting yesterday about the supposedly imminent [...]

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