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Economy
China’s $600 billion stimulus package will yield results
China is holding its ownregarding economic growth because the government is pumping massive amounts of government money into the economy in order to make up for the loss in trade. What does this mean for China, Chinese shares and the…
Stress tests reveal Citi and BofA need more capital, but you knew that already
The leaks about who failed the stress tests are already starting. Who got a big fat 'F'? Apparently, Citi and BofA for starters. But is that any surprise?
Regulators have told Bank of America Corp. and Citigroup Inc. that the banks may…
Ackman and Stigliz talk Stress Tests with Charlie Rose
In this much-talked about Charlie Rose roundtable with Nobel Laureate Joseph Stiglitz joined by Bill Ackman of Pershing Square, Andrew Ross Sorkin of the New York Times and Kate Kelly of the Wall Street Journal, these experts discuss the…
Swine Flu has Mexican peso bears feeding at the trough
After a good run-up in the last month, the Mexican Peso is getting crushed in the currency markets today. How much of the pullback is a result of the news regarding Swine Flu and how much is technical, due to the prior run up, is hard to…
BofA saga continues as John Thain calls Lewis a liar
The Wall Street Journal is running a front-page story about John Thain today in which he accuses Bank of America CEO Ken Lewis of lying about events surrounding the Bank of America - Merrill transaction and the ouster of Thain as a top…
German banks loaded with 816 billion in toxic paper
On Friday, the German daily Süddeutsche Zeitung (SZ) leaked a bombshell - a confidential report by Bafin, the Federal Financial Supervisory Authority, found that German banks were sitting on over 800 billion euros in toxic assets. Just…
Spain begs to be at upcoming G-20, Brazil says no
We are starting to get a sense of who the winners and losers of the Great Unraveling are. Spain is definitely a loser.
Just think, a few years ago Spain was the envy of Western Europe with a dynamic and booming property market and…
The horrible self-dealing of Ken Lewis and the principal-agent problem
I don't much like Ken Lewis. It should be fairly obvious to everyone that he is a man who has only his own interests at heart. But, his revelation that BofA bought Merrill Lynch for the agreed-upon September price, despite Merrill's having…
A conversation with Brent Scowcroft on Charlie Rose
George H. W. Bush's National Security Advisor talks with Charlie Rose and Carlos Pascual, Brookings Institute vice president and director of Foreign Policy. They opine on "the Obama Doctrine" as Barack Obama nears his 100-day mark in…
All your bank are belong to us
It looks pretty clear that the U.S. regulators are going to clean house this year -- at least with small banks. Hundreds of small banks and credit union will go into receivership in 2009. However, big banks are getting a free ride. First…