March 2009

The Absolute Return Letter March 2009 "Many of today's policy proposals start from the view that "greed" and "incompetence" and "poor risk assessment" are the ultimate source of what went wrong. In fact, they were not the true cause at…

Oppenheimer has a research note out today that calls Tim Geithner an "evil genius." The genius moniker comes from the steady creep up the capital structure, giving Geithner access to huge pools of money as the Treasury dials for dollars.…

Bill Fleckenstein is a well-known money manager and write over at MSN Money. He has been fairly bearish on the medium-term outlook for U.S. equities and technology stocks in particular for some time. His viewpoint stems from what he sees…

Banks do not have enough tangible common equity to make the grade on Tim Geithner's stress tests. That means the government will have to step in and bail them out. I will call this creeping nationalization. Paul Miller of FBR Capital…

Marshall Auerback here. Unlike Ed, I like to call a spade a spade regarding the Obama Administration's economic gurus. The more they screw up, the greater the number and depth of the crises, the greater the responsibility/ power Obama…

Happy snow day!

Predictions that the savings rate would increase as the Depression in America took hold are coming true. The Bureau of Economic Analysis reported that the savings rate in the U.S. hit 5%.

We should expect a very negative open to the markets today. The Dow Futures are pointing to an open under 7000, with key support levels to be tested. As usual, the reason is the financial sector with AIG and HSBC making headlines. AIG…

A massive $61.7 billion loss for AIG - that is the quarterly loss for the insurance giant, a record for the world. That comes to a loss of $465 $465,000 every minute of every day in that quarter. The full-year loss comes in over $100…