Links: 2009-03-10
Predictions
Whitney says credit cards are the next credit crunch - Reuters (I have also predicted that this would occur)
S&P to bottom at 600 points in October: Merrill (More Predictions, this time from David Rosenberg)…
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Will China enter deflation?
According to this Bloomberg video, China will enter deflation when data is released later today. Deflation may stay with China for all of 2009 because of lower commodity prices:
Does Obama have the legal authority to take over Citi?
From Justin Fox of Time Magazine:
FDIC chairman Sheila Bair doesn't think a full government takeover of Citigroup and other multinational financial institutions is practical or even possible. Here are her reasons, as summarized by…
Too big has failed
This is the name of a speech made by Kansas City Fed CEO Thomas Hoenig which is creating quite a stir. He makes the following points in his speech:
Quantitative easing in the U.K.
Thirty years ago, it was "Anarchy in the U.K." as Britain tried to get away from its role as the sick man of Europe. That meant civil unrest, high inflation and a weak economy. Margaret Thatcher was seen by many as the solution. Today,…
Links: 2009-03-09
Three more Obama nominees withdraw from running - Telegraph (hat tip Michael)
Returned to TARP - FT Alphaville
R.B.S. Seeks to Unwind a Decade of Deals - Deal Book - NY Times
Geithner, With Few Aides, Faces Challenges - Deal Book -…
More Warren Buffett on CNBC
Warren Buffett answers questions from viewers on CNBC. He talks about his investment philosophy and recent stock picking performance. He bought ConocoPhillips at the top. And he made poor investments in Irish banks. About Wells Fargo, he…
Warren Buffett: we have to be sure all debt liabilities of Citigroup are met
Warren Buffett spoke with CNBC about the U.S. economy and the banking system in an interview televised this morning. His basic message was that the economy cannot function without confidence in the banking system. The FDIC can work its…
Links: 2009-03-08
Bank nationalisation 'not needed' - BBC News
Goldman CEO opposed to full bank nationalization - Reuters
No Doom, Just Gloom - David Levy, Barron's
How Severely Will Asia Be Affected By the Global Recession? - Roubin's RGE Monitor…