Credit Writedowns

The Bank of Canada's statement yesterday, where it dropped it conditional promise about keeping rates steady and raised this year's growth outlook triggered new Canadian dollar buying.  We too have been bullish the Canadian dollar.…

Bubbles are important for the country because there is nothing more dangerous and damaging to an economy than a great asset bubble that breaks. And this is something the Fed never seems to get. … We looked back as far as we could, , 32…

Finance and Economy GM repays $8.1-billion in loans to Canada, U.S. - The Globe and Mail FDIC Closes on Two Note Offerings Backed by Loans and Real Estate from Corus Bank and Franklin Bank, S.S.B  Shocking Fraud from Financial Scum…

Highlights        The US dollar is mostly higher today, but the drivers are elsewhere.  Greek talks with the EU/ECB/IMF are beginning, but they look to continue for a couple of weeks.  It seems…

Veteran regulator believes Lehman Brothers is a case of fraud and believes the Feds need to bring charges. But, more than that, Black hones in one the mortgage fraud which underlies much of the speculative fervour in the market by citing…

Marshall Auerback here. Neither the Dodd Bill, nor the House version, will do much to prevent the abuses described in the SEC's lawsuit against Goldman Sachs. Senator Dodd himself acknowledged this fact. Additionally, as Frank Partnoy has…

Roger Lowenstein - How Wall Street Became a Giant Casino - NYTimes.com Confessions of a grade inflator | The Economist CBC News - British Columbia - New mortgage rules take effect FP Tech Desk: Apple wants Gizmodo to return missing…

Goldman Sachs is launching an aggressive response to its political and legal challenges with an unlikely ally at its side — President Barack Obama’s former White House counsel, Gregory Craig. The beleaguered Wall Street bank hired…

You can get some pretty good mortgage deals in Canada these days Today I got this drift via this intrusive banner advert from CIBC. Clearly CIBC wants you to see this advertisement. The deal is 4.74 fixed with 2% cash back if you switch…

This is THE issue that everyone wants to know. When I wrote the The politics of the Goldman fraud case and referred to "leeway in how to proceed later against Goldman and other firms using the same practice," I meant that it was…