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Economy
Ambac Files for Bankruptcy
This is something that we were talking about last November: Bond insurer Ambac Financial has warned bankruptcy is a distinct possibility, sending its shares plummeting more than 30% today. What is intriguing about this pending…
On The Jobs Numbers
I was on RT TV America last Friday talking about the jobs report. The video from that discussion is below (it runs about 5 minutes). Here's the deal: The US is in the midst of a technical recovery that has been on-going for about…
Bove: Bank stocks will soar during QE’s “financial war with China”
In the fall of 2008, when the government took extreme steps to avoid a financial collapse, it created, what might be described as a partial liquidity trap. At the time, this was not a problem. The policymakers were not trying to assist…
A Few Thoughts on the Employment Numbers
By Dr. Lacy Hunt, Hoisington Investment Mgt. Co. The October employment situation was dramatically weaker than the headline 159k increase in the payroll employment measure. The broader household employment fell 330k. The only reason that…
Eliminating Foreclosure Fraud: Setting the Record Straight on Bank of America, Part 2:
William K. Black is an Associate Professor of Economics and Law at the University of Missouri-Kansas City. He is a white-collar criminologist and was a senior financial regulator. He is the author of The Best Way to Rob a Bank is to Own…
Open Bank of America’s Books And Set the Record Straight
William K. Black is an Associate Professor of Economics and Law at the University of Missouri-Kansas City. He is a white-collar criminologist and was a senior financial regulator. He is the author of The Best Way to Rob a Bank is to Own…
Stat of the Day: Ireland soars to number three for highest government default probabilities in the…
Despite austerity in Ireland, things have gone decidedly pear-shaped for the Irish government as its bank bailout-ridden deficit has ballooned to a magnificent 32% of GDP and debt spreads to German bunds are at record levels.…
How Quantitative Easing and Permanent Zero are Toxic To Bank Net Interest Margins
All eyes are on the Fed today because markets across the globe in bonds, equities, commodities and forex want to know how much quantitative easing (QE) the Federal Reserve will do and what assets they will buy. As US short-term interest…
ADP: U.S. private employers add 43,000 jobs in October
The ADP number is higher than expected and is the last piece of major economic data we will see before the Fed's FOMC meeting announcement. I am not sure whether the Fed will have seen the Labor Department number, but these jobs data…
Chart of the Day: The World’s Top 50 Banks (bubble chart version)
I have written a few posts showing you the ranking for the big banks globally, with a special emphasis on Europe because of systemic risk. But here's a great bubble chart that gives you a visual on the relative size of the big banks…