Credit Writedowns

Yesterday was both an historic and eventful day. In the United States, we were celebrating the inauguration of a new President. I did my part over the past few days to bolster the economy by going to a number of parties and balls and…

Louise Yamada is one of Wall Street's foremost technical analyst. She is quite bearish and thinks the Dow Jones Industrial Average could go to 6000. Her advice: sell stocks.

As the financial industry further unraveled yesterday, Mathieu Robbins of the Irish Indendent asked a worthwhile question: Was RBS the idiot company of all-time in buying ABN Amro at the top of the market? Robbins says no and offers up…

Recently, I was discussing the economy with a lawyer expert in both commercial real estate and taxation, workouts, and bankruptcy. He made a few statements that I felt relevant enough to pass on here.

Here is the inaugural address of the new President, Barack Obama, from earlier today.

Today's links are dedicated to the banking crisis in the U.S. and Western Europe and to posts from my econblogging brethren. Below are my links for the day divided into three sections. Enjoy.

I am skeptical as to the economic benefits of the Eurozone. In my view, the Euro has always been more of a political construct than an economic one. Nevertheless, the Euro has functioned quite well as a leading international currency in the…

Recently, I posted a video of Peter Schiff making the argument for small government and resisting stimulus. As I see much to like in Peter Schiff's views, I sympathisize with the broad themes of his message. However, I do not feel he is…

Crunch 'cost Arabs $2.5 trillion' - BBC News Ireland's financial sector is 'no Iceland', says minister - Telegraph Illinois-based National Bank fails: FDIC - Reuters Pimco’s Gross Buys U.S. Debt for First Time in Year - Bloomberg.com…

This just in from the German daily Der Spiegel: German banks are still loaded with risky U.S. assets, only a fraction of which has been written down. If this report is true, it suggests that the entire German banking sector is extremely…