Monetary System

Artificially low interest rates are what got us into this mess. Why should we think that they will help us get out? That's the question I ask myself and Marc Faber, otherwise known as Dr. Doom, answers that they won't.They certainly…

As I do every week, I am updating you with links to important news in the credit crisis. These links are compiled in my credit crisis timeline, which is the most comprehensive list credit crisis links on the Internet.However, one big hole…

In a move widely anticipated for months by many analysts, Meredith Whitney amongst others, Bank of America has finally cut its dividend. Releasing its earning report two weeks early, BofA said it would cut the dividend 50%. I view the…

Fortis, the nationalised Belgo-Dutch bank and largest private employer in Belgium. This is a good thing as I have a distinct preference for mergers over bankruptcy or long-term nationalisation as a way to hep consolidate and rationalize…

I have been a bit on edge of late because of the credit crisis that is making headlines. Recently, a lot of people have been duped into believing that the economic crisis we are experiencing is not critical and have their eyes focused…

According to the Times of London, that's what Lehman's creditors seem to suggest in Lehman's bankruptcy filings. Apparently, JP Morgan cut Lehman off the night before it filed for bankruptcy and creditors are blaming this action for Lehman…

The Europeans have no idea what is about to hit them. Their banking system is collapsing and European politicians are fighting amongst themselves. At French President Nicolas Sarkozy's crisis summit, the politicians were unable to craft a…

A week into the European leg of the meltdown of the global financial system, Germany has hit major turbulence. Hypo Real Estate, a member of the DAX-30, Germany's equivalent of the Dow Jones Industrial Average looks to be on the verge of…

Marshall Auerback here. I have a quick thought regarding the credit crisis and bank lending in the US. If the real purpose of the Paulson Plan is recapitalization more than reliquification, and if the Scandinavian public recaps of their…

The deal everyone first expected to happen is now likely to proceed. Wells Fargo is set to buy Wachovia. Earlier this week, we heard that Wachovia was to be acquired by Citigroup, the beleaguered corporate behemoth that has written down…