Credit Writedowns

If you have been wondering whether a statistical recovery is at hand, today’s ISM manufacturing report should be the clincher.  The report was definitely bullish with the ISM index rising to 55.7 and sub-components supporting the…

I will be out of pocket in the early morning. Back late morning for more news. I expect to update my thoughts on the UK TBTF situation. Junk bond revival stokes credit bubble fears - Telegraph I share these fears. (My post:…

In a clear break with US economic policy, the UK government have decided that too big to fail is too big to exist. As a result, three large financial institutions now owned at least in part by government are to be dismantled. Moreover, talk…

CIT has the approval of debtholders to file a prepackaged bankruptcy. This comes via Business Wire: CIT Group Inc. (NYSE: CIT), a leading provider of financing to small businesses and middle market companies, today announced that, with…

You judge for yourself: is Jon Stewart right to skewer Fox? Before you decide, listen to the last minute of the segment.

White House Will Not Be Told By The AP How Many Jobs The Stimulus Has Created - Dealbreaker Funny. Industrial output up 1.4% last month | The Japan Times Online More bullish data in Japan. What Exactly Is Going On…

Josh Rosner, a Managing Director at Graham Fisher & Company, an independent research for institutional investors in financial service assets, has some pretty strong words for the reform legislation proposed by the Obama Administration…

Yesterday, Moody’s cut the outlook for the sovereign debt of Portugal and put Greece on negative watch for a downgrade, signaling growing concern over spiraling debts. Just as with Spain and Ireland which I discussed yesterday, Portugal and…

The data released this morning by the U.S. Department of Commerce’s Bureau of Economic Analysis on personal income somehow managed to show weakness in income and consumption as well as savings.  I see this as proof that Americans are…

The Nationwide monthly index of house prices came in this morning showing a 0.4% bump in October from September. While this was less than last month’s 0.9% rise, it was the sixth consecutive month of price increases and it marked the first…