Credit Writedowns

Paul Krugman has it right when he says this: I hold no brief for weak financial regulation in America. But it’s a bad sign that Germans still think of this as a made-in-America crisis. The truth is that the European housing bubble was…

The decision to leave rates on hold was an easy one for the Fed to make.  The Fed still anticipates this will be the case for an extended period.  The statement seemed to recognize some of the less favorable data since it met…

German daily Die Zeit published comments from an interview with famed US hedge fund investor George Soros who was sharply critical of German economic policy.  Soros claimed that Germany was "isolated" in its austere…

The 32.7% decline in new homes sales to a new cyclical low has actually sparked a bout of dollar and yen buying on risk aversion. The revisions to the March and April time series also point to a much weaker picture than we had.  …

Sales of new homes plunged a record 33% in May to a record-low after the expiration of the federal tax credit subsidy for home buyers expired. Sales were a seasonally adjusted annualized rate of 300,000, the lowest since record-keeping…

Must-read News A Colossal Fracking Mess | Business | Vanity Fair The Burning Platform - Too Small To Matter The Usual Fare iTunes-Konkurrenz: Google will Musik über das Internet verkaufen - WELT ONLINE U.S., England Need…

Gray Newman of Morgan Stanley is the third analyst this week who has been making Mexico-bullish noises due to the Chinese peg move.  In his recent research piece called "Latin America: The Renminbi Impact" he says we have…

Australian PM Rudd is coming under stronger domestic pressure as the opposition to the resource tax gains momentum.  There have been press reports of a leadership challenge and a local report claims that a key bloc in the Rudd's Labor…

Highlights The US dollar is little changed against most of the major foreign currencies, but sterling continues to respond favorably to yesterday’s budget.  News that for the first time since Aug 08 a BOE member (Sentence) called…

The iPhone goes on sale right now, 12 midnight today. Walt Mossberg gives his view on the product in the video below. He likes the Phone. He just doesn't like AT&T – and this is the same complaint the review at Boing Boing had as well.…