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Browsing Category
Economy
Ken Lewis points the finger at Bernanke and Paulson
The drama at Bank of America continues with Ken Lewis testifying before Congress today. Most of the events surround claims by Lewis that he was coerced into doing the Merrill deal by Hank Paulson and Ben Bernanke. I…
Initial claims hit lowest in 5 months, continuing claims hit record
The U.S. Labor Department came out with its latest weekly report. The data were mixed because initial claims are pointing to recovery, but continuing claims continue to hit new records. The long and short: the U.S. Labor market remains…
When will the U.S. recover?
Since so many economists are signing up to the second-half recovery meme (Berner, Gordon, Krugman, Bernanke), I am going to ask you whether you believe them or not.
What say ye?
(If you can't read the above it is a poll asking you…
Roubini’s RGE Monitor: Threat of ‘Asia-Style Crisis’ in Eastern Europe
I am not the only one who sees events in Latvia as a potential catalyst for further downside risk to the reflation trade. Mary Stokes over at Nouriel Roubini’s site has a very readable post out on why we should be watching events in that…
Morgan Stanley: Recession will ‘end by mid-to-late summer’
It seems a Q3 recovery is the new consensus of professional economists. First, we hear Paul Krugman saying this, now Richard Berner and David Greenlaw are singing the same tune.
The deepest post-war recession likely will end by…
Repayments will make banks weaker and could lead to more failures
Yesterday, I argued that allowing banks to repay TARP funds meant a continuation of overcapacity in financial services, which was a direct contributor to the credit crisis through its dampening impact on unlevered returns. Some of the…
Ten big banks receive approval to repay TARP funds
If you thought the bailout of too big to fail institutions was a massive gift from taxpayers to captains of Wall Street, the news that TARP funds are being repaid should confirm your beliefs. Just today the U.S. Treasury has agreed to…
Krugman sees recovery by end of Summer
As I have been indicating, even the most bearish of professional economists are now seeing a probable end to the recession later this year. Paul Krugman goes as far as to say he wouldn’t be surprised to see the official end dated…
Reaction to President Obama’s speech in Cairo on Charlie Rose
From Charlie Rose’s site: “Reaction to President Obama's speech in Cairo with Mohamad Bazzi, Roger Cohen, David Ignatius and Robin Wright.”