Credit Writedowns

Testing the Tesla Roadster Electric Sports Car - WSJ.com A muscle car that's electric? Yes. BerkShares, Buckaroos, and Bear Dollars: What Makes a Local Currency Tick? - Randy Wray More on California's IOUs as a currency. Whitney…

I have introduced the concept of a technical recovery to describe the anticipated weak recovery period that lies ahead.  Van Hoisington and Lacy Hunt have a different term to remember: Partial recovery.  They see the potential…

I listened to the first day of the Sonia Sotomayor confirmation hearings for a spot as a US Supreme Court justice. I was very impressed.  The three who impressed me the most were Al Franken (D-MN), Arlen Specter (D-PA), and Sotomayor…

Just when I was wondering where Meredith Whitney had gone, she’s back.  But she has a whole new tone to her.  In this interview on CNBC, she says she is expecting a monster number from Goldman (GS) tomorrow morning, in 2010 and in 2011. She…

Central banks are not the only ones printing money to help get through this financial crisis.  Private citizens are increasingly turning to the printing press to help alleviate their financial problems as well.  My translation of…

This was a front-page story at the Wall Street Journal today.  It should bring home the problem with lack of benefits in America. Also see Mark Thoma’s post yesterday on health care called "The Hottest Places in Hell are Reserved…

This comes via the Telegraph: UK Financial Investments (UKFI) said in its annual report that its loss on the two stakes - 70pc of RBS and 43pc of Lloyds Banking Group - had reached £10.9bn at the end of June. The losses, which are not…

Last week, I followed up Yves Smith’s excellent post on “Why Big Capital Markets Players Are Unmanageable” with “More on why big capital markets players are unmanageable.” I would like to extend the discussion beyond the U.S. border into a…

History suggests it could be decades before the dollar is dislodged - Roger Bootle "China's central bank governor has gone so far as to suggest that the dollar's role as a reserve currency helped to bring about the current financial…

Banks buying back TARP warrants at discount: panel - MarketWatch "bought-out the stakes at 66% of their face value" Great Moments in Ogling: Obama Checking Out Girl - The Hollywood Gossip The G8 isn't just about economics…