Credit Writedowns

After a blip in the data last month, Nationwide is reporting that U.K. house prices have resumed their fall.  However, for the second month in a row, the annual price fall has slowed.  In March, the fall was 15.7%. This month we see only…

It looks like Chrysler is going down for the count. A few piggish bondholders decided to play chicken with the Federal Government. They are going to lose this game and, consequently, lots of money too. Chrysler and the Obama…

This is from BofA's website: Bank of America Corporation today announced the results of management and shareholder proposals at the company's 2009 annual meeting... All 18 directors were elected to the board by comfortable margins. In…

This comes from Bloomberg. Unfortunately it is pretty scary stuff: The World Health Organization said the first pandemic since 1968 is imminent after an outbreak of swine flu spread to eight nations and 11 U.S. states. The WHO’s…

This comes from Bloomberg: President Barack Obama plans to announce tomorrow that Chrysler LLC will be placed into Chapter 11 bankruptcy, leading to an alliance with Italian automaker Fiat SpA, people involved in the matter said.…

Watch the video below and then read the text and the linked full article. No cheating! As anyone who has ever been in a verbal disagreement can attest, people tend to give elaborate justifications for their decisions, which we…

The U.S. GDP report for the first quarter of 2009 was pretty awful.  GDP came in much worse than expected at an annualized  -6.1% below Q4.  Here are a few data points (all referencing real GDP data): The numbers were much worse than…

The following is a worthy analysis from Marc Chandler of Brown Brothers Harriman regarding the recent GDP numbers released in the U.S. and their significance for currencies (emphasis mine): The initial reading of the US Q1 GDP was worse…

This individual is live-blogging BofA's annual shareholder meeting via Twitter.  Hat tip Deal Breaker.