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Archive for August 6th, 2009

Fannie’s Dismal Financial Results

Earlier I wrote a short post about Fannie and Freddie going hand in hand off into the sunset to be replaced by who knows what. I should have included this in the post but I hadn’t noticed it and it shouldn’t go unnoticed. This is from Fannie’s press release detailing its results for Q2. I [...]

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Flying High With Congress

At least there is still one corner of the country that’s still partying like it was 2005. Those lovable fellows on Capitol Hill have decided that the time is ripe to upgrade their personal airline. From the WSJ: Congress plans to spend $550 million to buy eight new jets, a substantial upgrade to the fleet [...]

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What To Look For In The Jobs Numbers Tomorrow

Tomorrow’s employment report is an important one. After a disappointing report in June when the jobs lost increased unexpectedly, this report is going to be watched closely to see if the trend has turned positive again. David Leonhardt notes in an article in the New York Times that it’s important to pay attention to the [...]

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Bankers Being Bankers

I think it must be genetic. No matter where they seem to be located, bankers seem to feel that bonuses are somehow a birthright. From the WSJ: The long-running debate in France over executive pay was rekindled this week when BNP Paribas SA, France’s largest bank by market value, said it had set aside about [...]

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What Will Be Done With Fannie And Freddie?

The buzz today comes from the Washington Post’s article about plans for Fannie and Freddie that the Obama administration is kicking around. Briefly, the thinking seems to be that you set up a good bank/bad bank structure, let the government work out the bad bank loans over time and spin off the good bank in [...]

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Initial Unemployment Claims Show Very Modest Improvement

Here’s a quick look at the initial claims data. Initial claims for unemployment insurance for the week ending August 1 dropped from 588,000 the week before to 550,000. The four-week moving average which is the one you want to watch was at 555,250 which represents a drop of 4,750. The four-week average peaked 17 weeks [...]

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