Credit Writedowns

I think this video is an example of the most self-reflective you will see the current U.S. President George W. Bush become. In it, he talks about his mistakes, grappling in front of the camera with how historians may look back on his stint…

We are in a secular bear market. What this means for many pensioners or for many about to become pensioners is great uncertainty about the quality of their retirement. I expect this uncertainty to translate into anger regarding the move…

The earnings season starts soon and we shall see how much the latest upturn lasts. I expect stocks to decline this year. Remember, there was a huge rally in 1930 before reality set in. I do see today as similar. That's my commentary for…

Fred Hickey is bullish. This is big news. He has sold all of his puts for the first time in years and is now playing the markets from the long side. His favorite picks are in precious metals and technology. See the attached video during…

I am very happy that the weekend has been a fairly news-lite affair. It does seem like the worst of last September's panic is now over and we have moved to worrying more about the real economy than the financial system. Areas getting hit…

General Motors, struggling under the weight of a mountain of debt, is finding it difficult to raise cash. For one, the U.S. automaker is finding no buyers for its Swedish Saab unit, according to Swedish Daily "Dagens Nyheter."…

Coming on the heels of the Rubin resignation as it does, the resignation of Ezra Merkin as Chairman of GMAC makes it seem like a bit of shake up in financial services management is underway as 2009 begins. Merkin was tainted by the Madoff…

The Chief Economist of Goldman Sachs sat down with the FT's David Oakley and had a go on a number of topics from the financial crisis, investments in Emerging Markets, the future of the Bric (Brazil, Russia, India and China) economies, to…

This just hit the wires. Apparently, Bob Rubin has tendered his resignation at Citigroup. Here is he story from the Wall Street Journal:

I guess it's not just another stunt by Larry Flynt. The porn industry is hurting as the downturn bites. Sales are down 20%. And the annual Porn convention, the AVN Adult Entertainment Expo, going on now in guess which city has seen a…