Interesting stuff from Geithner tonight. From Reuters, here is what he had to say about the banks: U.S. Treasury Secretary Timothy Geithner does not see a second wave of banking collapses and the government is ready to support capital-raising when needed, a Japanese newspaper said on Sunday. In an interview with the Asahi Shimbun newspaper, Geithner was […]
Archive for April 18th, 2009
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More Doubts On China
Posted by Tom Lindmark on April 18th, 2009
A couple of days ago I wrote a post questioning China’s first quarter growth numbers. Judging from the comments on Seeking Alpha where it was picked up, there are few people who share my skepticism when it comes to that country’s future as an economic power. But I’ll soldier on as the WSJ had a […]
The Eurozone Had An Unusual Trade Deficit In February
Posted by Tom Lindmark on April 18th, 2009
The Eurozone’s exports fell by 24% in February leading to fears that the worst might still be ahead for the region. While it may be a one month phenomenon, the Eurozone also ran a trade deficit of 2 billion euros versus a 1.7 billion euro surplus in February 2008. Traditionally it has run a trade […]
Delta To Close Indian Call Centers
Posted by Tom Lindmark on April 18th, 2009
Delta Air Lines is closing its India-based call centers according to the WSJ. They’re bring the operations back to the States. Delta admits that it’s cost effective to keep the call centers in India but evidently the customer satisfaction level with the service from there is low. Though Delta didn’t mention it, the article suggests […]
Paul Volcker Still Has Some Opinions
Posted by Tom Lindmark on April 18th, 2009
No matter how hard they try, the Obama administration can’t seem to get Paul Volcker shoved completely into the background. He was making waves today at Vanderbilt University. Volcker had a couple of interesting things to say. First he spoke a lot of truth about the recession: Paul Volcker, senior economic adviser to PresidentBarack Obama, […]
Risk Aversion Pervades The Markets
Posted by Tom Lindmark on April 18th, 2009
Floyd Norris has a good article in the NYT today. He pretty much dispels the myth that corporate credit markets have returned to normal, suggesting instead that they are functioning mostly on the basis of government guarantees. One paragraph caught my eye: It could be seen as a disappointment that the $500 billion in government-guaranteed […]
