Economy

This morning you may have read Gideon Rachman’s positive view on Hungary.  He said the panic is all but over and it looks like Hungry is going to get through this debt crisis. The horror scenario envisaged a Hungarian banking collapse that…

Last night I received an advance copy of a new book by Wall Street Journal reporter Kate Kelly that gives us a peek inside the last seventy-two hours at Bear Stearns in March 2008.  If you are interested in finance, “Street Fighters” is…

Below is a video of Meredith Whitney talking to Maria Bartiromo earlier today on CNBC (hat tip Calculated Risk).  In the video she suggests that banks might be able to beat earnings estimates for another one or two quarters before the…

I forgot to add this to my links.  Very funny Saturday Night Live clip spoofing Timothy Geithner. 

This comes from Marc Chandler, head of the Brown Brothers Harriman Currency Strategy team (emphasis added): After today there is an important US economic report every day this week. Tomorrow's report on the March trade balance and Wed…

I found this story and video of Bill Black on Tech Ticker (hat tip Larry Doyle). Basically, Black thinks the stress tests were a joke, a common theme heard from those in the know. Listen to what he says about a really difficult stress…

The loss rate here is about 30%, $100 million on $334 million in assets. Here is the FDIC press release: Westsound Bank, Bremerton, Washington, was closed today by the Washington Department of Financial Institutions, which appointed the…

Bloomberg has the goods on Fannie and they’re not good. Fannie’s regulator wants $19 billion from the U.S. government because the firm has negative capital. Fannie Mae had $23.2 billion in losses last quarter alone. And it says losses in…

The Employment Situation Summary for April was released today by the U.S. Department of Labor and the headline data was right in line with estimates.  The unemployment rate came in at 8.9%, up from 8.5% in March. Job losses for April were…

In the CNBC video below, Ken Lewis defends his company’s performance on the stress test and answers some pointed questions in the John Thain – Ben Bernanke – Ken Lewis – Hank Paulson he said she said match.  He also details how Bank of…