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Recent additions to Credit Crisis Timeline
The following are the links regarding the global credit crunch that have been recently added to the Credit Crisis Timeline. The full timeline is accessible hereLatest Additions2008 06 02 Wall Street May Face $460 Bln in Losses, Goldman…
Commercial poperty ‘im Visier’
Deutsche Bank has sold three New York skyscrapers back to the Macklowe group at a discount of 20-30% reports the Wall Street Journal. This could be a watershed moment in the U.S. commercial real estate (CRE)sector. CRE is a sector that is…
Mortgage meldown in Britain
The UK is in the throes of the worst of the mortgage meltdown. Financial shares are tumbling. Home builders face collapse. Many top names in British housing and banking have been caught out and are getting a deserved swift kick: Northern…
HBOS in trouble
In April, I wondered aloud where HBOS was in this crisis in a post called "Where's HBOS?". Now, we know they are not immune to the problems infecting global finance.The Guardian has reported on the difficulty HBOS is having raising money…
The Euro crisis is beginning
As the Euro celebrates its tenth anniversary, Vaclav Klaus, the President of the Czech Republic, says:"The question is whether the eurozone countries and their citizens have cause to celebrate. The answer is uncertain, given the zone’s…
BofA is nuts: still going to acquire Countrywide
It looks like the BofA-Countrywide deal is still on. In fact, BofA is making room for some of the Countrywide executives in its own executive suite. I reckon we will look back on this deal as a very bad call by BofA.Bank of America Corp.…
The UK is even gloomier than the US
If you thought it was bad in the US, you need to read the British press. I subscribe to a number of RSS feeds for UK newspapers. I was rummaging tbough the Telegraph's news feed and I was surprised at how gloomy the mood is in the UK.…
Taxes, Taxes, Everywhere
Amity Shlaes has a good column over at Bloomberg News. Her post today is about the likely rise in taxes we are going to see in 2009 and beyond. She admonishes the Democrats for being overly complex when it comes to taxes. She says:"The…
What is Inflation?
This is an important question, because our central banks are the ones behind the rise in inflation, not OPEC, oil companies, or greedy corporations. If one must point the finger, point it at central bankers.
"Inflation is always and…
M3: I wonder what it looks like today
You know, the Federal Reserve stopped publishing M3 for some strange reason back on 23 Mar 2006.At the time, they said the following:M3 does not appear to convey any additional information about economic activity that is not already…