Credit Writedowns

Below are the prepared remarks of Goldman's CEO Lloyd Blankfein for his testimony tomorrow before the Senate Subcommittee on Investigations. Fabrice Tourre will also testify. Chairman Levin, Ranking Member Coburn and Members of the…

This is what you need for inspiration. You can do it, Herman van Rompuy -  Eye of the tiger!

he money that the government spends on a failed modification goes to banks, not homeowners. Typically, the government will have substituted an FHA insured mortgage for the original mortgage issued by a bank. This means that when a…

This past weekend, German and French government officials took a hard line on aid to Greece, sending 10-year Greek bond yields to 12-year highs above 9%.  According to the Wall Street Journal,the spread in yields between 10-year Greek…

This is a post by Bill Black and Eliot Spitzer which originally appeared at New Deal 2.0. Bill Black is an associate professor of economics and law at the University of Missouri – Kansas City (UMKC). He was the executive director of the…

Les marchés font monter la pression sur la Grèce - LeMonde.fr FT Alphaville - Neil Hume - UBS and its 1,350 S&P target Buffett Blunts Finance Rule - WSJ.com CFED: Weathering the Storm: Have IDAs Helped Low-Income…

Informed researchers are asking what happens to China based on the recent demographic shift from rural labour surplus to rural labour deficit.  The answer may be slower growth and higher inflation, according to a paper released last…

Highlights The US dollar was mostly softer vs. the majors on news that Greece requested that EU/IMF aid be activated.  EUR/USD rose on short-covering rally as a result, and came after it had earlier set a new cycle low at…

“My maid just asked for leave,” a friend in Beijing told me recently. “She’s rushing home to buy property. I suggested she borrow 70 percent, so she could cap the loss.” It wasn’t the first time I had heard such a story in China. Some…

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