The Fed is planning is planning to launch advertisements in movie theaters warning us about scammers selling foreclosure assistance. From the WSJ, here is the ad: Is this sick? Any wonder why we can’t control the financial sector? We can’t even stop a bunch of low lifes from ripping off people. These guys are going to […]
Archive for March 26th, 2009
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Another Convert To The Smaller Bank Movement
Posted by Tom Lindmark on March 26th, 2009
Alan Greenspan suggests that sliding capital standards be used to keep banks from growing too big. Glad to have him on board. Not a bad idea to make it economically unattractive to grow too big. more: here
Heads I Win Tails You Lose
Posted by Tom Lindmark on March 26th, 2009
If ever you needed proof that the game is rigged here it is. From the WSJ: Federal Deposit Insurance Corp. Chairman Sheila Bair said Thursday she would be open to letting banks see some of the profits if they dump problem loans that ultimately recover some value. The comments, made in a conference call with […]
Promises, Promises
Posted by Tom Lindmark on March 26th, 2009
From Greg Mankiw’s blog: “President Obama’s budget chief hinted Wednesday that the president’s signature campaign issue — a middle-class tax cut — will not likely survive a budget battle with Democrats on Capitol Hill. On a conference call with reporters in advance of the president’s trip to the Hill to speak before the Senate Democratic […]
Facing Reality The EU Prepares For Quantitative Easing
Posted by Tom Lindmark on March 26th, 2009
Better late than never. The reality of a recession bordering on a depression within some of their member states has finally dawned on the financial geniuses of the EU. Accordingly, they appear ready to engage in quantitative easing. The Telegraph.co.uk. reports that though an official announcement has not been forthcoming the deal is indeed done. […]
Geithner’s New Regulations
Posted by Tom Lindmark on March 26th, 2009
Treasury Secretary Geithner fired his first shots in the re-regulation war. He outlined four areas which the administration considers worthy of attention — Systemic risk (the financial institutions), protecting the consumer, consolidation of the regulatory structure and international cooperation. His testimony today focused on the first. Here is the outline for his strategy to address […]
Commercial Real Estate Outlook Is Getting Grimmer
Posted by Tom Lindmark on March 26th, 2009
It looks like commercial real estate may crash harder than a lot of people thought it would. The WSJ is out with some rather frightening numbers. The Journal notes that the delinquency rate on securitized commercial real estate loans has doubled since September and now stands at 1.8%. While that number indicates the problems that […]
