Credit Writedowns

A Glance At The Upcoming Eastern European Cataclysm - Zero Hedge Jim Rogers on Wall Street Maseratis - Tim Iacono Rio's Chinese takeaway - smh.com.au Rescue plan for Ireland's banks - BBC News Put Call Ratio Suggests a Market…

The title of this post is fairly provocative and categorical. This is by design. For I see Obama's banking plan as more of the same -- not 'change we can believe in.' And we all need to be clear about the need for Obama and his team to…

Jobless claims for the week ended February 7th came in at 623,000, pushing the 4-week average above 600,000 for the first time since 1982. This is a clear indication that the U.S. jobs picture remains weak. Further evidence of this…

Below is a good video clip from the recent World Economic Forum in Davos. The speakers are addressing the issue of how they see the global economic outlook going forward. The moderator who begins the discussion is Martin Wolf of the…

Here, Maxine Waters, a U.S. Congresswoman from Los Angeles gets hot under the collar about the banking industry given its predatory lending (credit cards and housing) in her constituency. You may remember she was very skeptical about the…

We heard testimony before the House Banking Committee in Washington today. The CEOs of eight large financial institutions are being raked over the coals by Congress. It was a scene which reminded me of the Pecora Hearings during the Great…

Politico asked a bunch of pundits from across the political spectrum to size up U.S. Treasury Secretary Tim Geithner's performance in explaining his plan for rescuing the U.S. banking system. They were asked, "Did Tim Geithner blow it? What…

Judging from recent events, the bond vigilantes are right to suspect that Ben Bernanke is all talk and no action when it comes to keeping long-term rates low. If you recall, I had actually believed the Fed would support bonds because it…

Yesterday and today, the heads of British banking institutions face the music in Westminster before a live camera. Yesterday's proceedings were fairly dramatic as I suggested in my post HBOS and RBS get a right bollocking. There has been…

McGraw Hill is one of the major book publishers in the United States. It also happens to own Standard & Poors, a well-known rating agency. Fellow econblogger Barry Ritholtz was due to release a book via McGraw Hill titled "Bailout…