July 2008

"I think a lot of banks are already bankrupt." "And a lot of insurance companies and financial institutions, but they hide their rotten assets in level three asset categories, where you don't need to value them." "I think the financial…

Fannie and FreddieThe Fannie-Freddie Maelstrom Continues - WSJ MarketBeatThe Fannie and Freddie doomsday scenario - FortuneMcCain Says Fannie, Freddie `Vital,' Must Not Fail - BloombergKiss of death for Fannie, Freddie? -…

As I said in an earlier post, taking over Fannie and Freddie has been the plan all along for the Bush Administration. They have been planning this since at least March. Coincidentally, I have confirming evidence now. The New York Times…

The FT reports: Citigroup is close to agreeing a sale of its German retail banking operations to Credit Mutuel for between €3bn and €5bn, after the French bank outbid Deutsche Bank in a close race, according to bankers close to the…

Everyone should recall that Fannie Mae and Freddie Mac were forced to massively increase their already bloated balance sheet in the aftermath of the Bear Stearns collapse. It seems reasonable to me to assume that the two organizations did…

Spain pulled a potential sale for 15-year bonds as the appetite for the issue just wasn't there. Before the Euro, some in the European debt capital markets, where I worked, pejoratively called Portugal, Italy, Greece, and Spain, the PIGS.…

Inflation is a concern for everyone, especially for those living on fixed incomes. With the cost of basic necessities like food and oil rising day-to-day, many people with limited incomes wonder how they are going to afford to put food on…

The old adage goes that on a Parents Day, a class of children brought their parents in to school. A few parents got up in front of the class to explain what they did for a living. One woman was a firefighter. One man was a baseball player.…

Chief North American economist David Rosenberg said the following about the Bush Administration's fiscal response to the credit crisis:We are nervous that we have ended up following in Japan's footsteps due to the inept fiscal response to…

The situation with Fannie and Freddie is coming to a head soon. Here are a few links on the chatter in the markets and on the blogosphere:Fannie, Freddie `Insolvent' After Losses, Poole Says - BloombergU.S. Mulls Future of Fannie, Freddie -…