Credit Writedowns

I am not the only one who sees events in Latvia as a potential catalyst for further downside risk to the reflation trade.  Mary Stokes over at Nouriel Roubini’s site has a very readable post out on why we should be watching events in that…

It seems a Q3 recovery is the new consensus of professional economists.  First, we hear Paul Krugman saying this, now Richard Berner and David Greenlaw are singing the same tune. The deepest post-war recession likely will end by…

We have just learned that Fiat has successfully completed its deal with Chrysler.  This means that the bankrupt ‘Old Chrysler’ will now have far fewer cash and assets available for creditors and that it will be liquidated with large or…

Yesterday, I argued that allowing banks to repay TARP funds meant a continuation of overcapacity in financial services, which was a direct contributor to the credit crisis through its dampening impact on unlevered returns.  Some of the…

Oil rises near $71 after large fall in U.S. crude stocks "Oil raced toward $71 a barrel on Wednesday, after settling above $70 for the first time in seven months on a larger-than-expected fall in crude oil stocks and a forecast that…

If you thought the bailout of too big to fail institutions was a massive gift from taxpayers to captains of Wall Street, the news that TARP funds are being repaid should confirm your beliefs.  Just today the U.S. Treasury has agreed to…

As I have been indicating, even the most bearish of professional economists are now seeing a probable end to the recession later this year.  Paul Krugman goes as far as to say he wouldn’t be surprised to see the official end dated…

Supreme Court Delays Sale of Chrysler to Fiat - DealBook Blame Reagan for our financial mess? - Bill Fleckenstein "The actual offending cancerous legislation that kicked off the move toward extra reckless lending did involve then-Rep.…

Green shoots? How about a 'double dip' - Globe & Mail "One trigger for a relapse, some of the double-dippers say, is a likely clampdown on government spending and a hike in interest rates within the coming year. “The question is…

This is an interview in five parts via Morningstar on May 28th with the one-time reputed perma-bear Jeremy Grantham who has been sounding much more bullish of late (in a bear-market rally kind of way). Definitely worth a look. The five…