Credit Writedowns

In January, I wrote Definition of terms which defined kleptocracy, looting, crony capitalism, propaganda and ideology.  Here are four more terms relevant to today: Bezzle To the economist embezzlement is the most interesting of…

Highlights The US dollar is beginning the new week as it finished last week, with a heavy tone.  Position adjusting in the wake of the European/IMF deal and ahead of month end is the main driver.   Also prompting some…

The first link is interesting. And too bad it is in Spanish for those of you who don't speak English. It is an important piece about what happens when a central bank is not independent.  The opinion piece from Argentine daily "La…

I am publishing a lot more links at my twitter feed. Follow my tweets here - and be sure to re-tweet my posts as that helps me immensely in reaching a wider audience. Who Will Tell The President? Paul Volcker « The Baseline Scenario…

A post by John Mauldin. "To trace something unknown back to something known is alleviating, soothing, gratifying and gives moreover a feeling of power. Danger, disquiet, anxiety attend the unknown - the first instinct is to…

Bank failure watch FDIC Pares Aid for Bank Buyers – WSJ.com New York Community Bank, Westbury, New York, Assumes All of the Deposits of Desert Hills Bank, Phoenix, Arizona Bank of the Ozarks, Little Rock, Arkansas, Assumes All of the…

Greek Sovereign Debt Crisis From A Greek Debt Crisis To A Eurozone Structural One? Europe puts the loaded gun on the table but no bailout Figaro: France will accept the IMF for Greek bailout Germany: First the penalties, then the…

What follows is a more comprehensive re-write of my take on the latest bailout proposals by the Obama Administration. I felt the original write-up was a bit rushed and one-sided. I have tried to outline the objectives of the bailout plans…

When we look back five years from now, will we see this week as marking a turning point in the short, but far from uneventful, ten year history of Europe’s common currency? Certainly recent comments by the deputy governor of the People's…

Highlights The US dollar is broadly lower, though mostly within yesterday’s trading ranges, as the market adjusts positions in light of the European agreement on support for Greece.  This is the main market development.  However,…