What the bankruptcy courts have decreed let no man tear asunder. But don’t try selling that to the House of Representatives. Recall, if you will, that amid much gnashing of teeth, the government prevailed upon the bankruptcy courts to permit GM and Chrysler unilaterally void hundreds of dealer franchise agreements. The argument in favor of […]
Archive for July 16th, 2009
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Roubini Denies He’s Softening His Forecast
Posted by Tom Lindmark on July 16th, 2009
Everybody started hyperventilating today about Nouriel Roubini softening his views on the economy. Apparently it started with CNBC and, of course, every blog in the universe picked it up. Not so fast says Roubini: “It has been widely reported today that I have stated that the recession will be over ‘this year’ and that I […]
Do You Blame The Goldman Monster Or Its Creator?
Posted by Tom Lindmark on July 16th, 2009
John Carney has an excellent piece over at Clusterstock on the rising animus towards Goldman Sachs. Here’s John: It’s taken some time but finally people from all over the political spectrum are looking up and noticing that the banner waving on the flagpole stands for Bailout Nation rather than the land of the free. And […]
CRE: Scary Quote Of The Day
Posted by Tom Lindmark on July 16th, 2009
This quote from Jamie Dimon this morning during the discussion of JPM’s second quarter results is chilling: Dimon: Commerical real estate is going to get worse over the next few quarters. “It’s idiosyncratic” (second time he used that word today). He says, there are good devleopers and bad developers, good projects and bad ones. Our […]
The Beat Goes On For Own-To-Rent
Posted by Tom Lindmark on July 16th, 2009
Felix Salmon is keeping up the drumbeat for Own-To-Rent. In case you missed the previous posts from me on this bad idea (here and here) are the links. Felix notes that there’s already been a bill introduced by Rep. Raul Grijalva. If you click through you will see that the bill has been gathering dust […]
More Bad News Than Good On The Economic Front
Posted by Tom Lindmark on July 16th, 2009
Well it’s Thursday and that means the weekly jobs report. There is also a bit of other economic news bouncing about. Jobs New claims for unemployment benefits fell by 47,000 to 522,000. The four-week moving average declined from 607,000 to 584,500. Once again, the seasonal adjustments make the numbers look better than what is really […]
