Credit Writedowns

Morgan Stanley Asia head Stephen Roach believes that Asia will weather the economic storm with a less severe downturn than the West. However, as the economies are predominantly export-led, he also believes that the countries are followers,…

Paul Kasriel of Northern Trust is one of the few economists to have warned about the present economic malaise. So his analysis of present events carries weight. In making recommendations about our future economic path, Kasriel leans heavily…

Report 44 — The Obama Watch (A new blog that I like) Geithner plan disappoints investors - Telegraph Bad debt leads to big loss at UBS - BBC News Bond market calls Fed's bluff as world falls apart - Ambrose Pritchard-Evans, Telegraph…

The hope of bipartisanship dies an early death with Barack Obama's stimulus bill.

A condition of conflict or anxiety resulting from inconsistency between one's duty as regulator and one's actions

Martin Wolf of the Financial Times has issued a damning assessment of the Geithner bailout package. His main criticism is that Geithner's aims are the same narrow set of goals set out by the Bush Administration of working through this…

I will dispense with the commentary and let you judge for yourself.

Caroline Baum has a good column today at Bloomberg.com regarding public anger in America.  She correctly states that the American public is not just angry at Wall Street, but at what Wall Street represents in terms of special interests,…

Update: 18 Mar 2008. I am reposting this entry from Feb 10th because it is relevant to the need to liquidate insolvent institutions like AIG that are now getting bailouts.

I watched the proceedings of the UK Treasury Committee with HBOS and RBS this morning on Bloomberg UK TV and it was a dismal sight. It had the feel of the Nuremburg trials, honestly. The clip below doesn't do justice to how tense the…