Credit Writedowns

The U.S. and the UK are not the only countries suffering from a housing bust and a credit crisis. Ireland and Spain have had massive busts as well and it is only a matter of time before we begin to see effects on the banking sector. And…

Below are the latest major credit crisis stories from the web that I have seen. Most of these stories have more to do with raising capital, merging, and bankruptcy than writedowns. Quite honestly, I have been caught up in the bailouts so I…

Right now, it is all bailout all the time Everyone is talking about the Paulson mortgage bailout proposal. This is the news that dominates the headlines.My opinion about the proposal is that the proposed measures do not require the urgency…

Apparently Lehman not only failed, it left a gaping hole its accounts. The UK pension scheme is missing £100 million. UK regulators certainly need o investigate whether the shortfalls are the result of criminal activity.However, pensions…

"Section 8. Review. Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency."Sounds like Paulson wants…

While you have your eye firmly peeled on the financial mess splayed in front of you, other industries are busy setting themselves up to profit from close business ties to the Bush Administration before a new Sherriff comes to town.The…

Firms are being added left and right to the list of companies that cannot be sold short due to the market meltdown. GM, GE and Ford wanted in. Blackrock now has in too. If there is one feature about the new crisis protections put in…

I have taken my time to let the basics of the Paulson Plan seep in before I rushed to judgment. But, the time to judge has come and the plan comes up short on all counts. His plan is geared more toward Wall Street and protecting the…

With Goldman Sachs and Morgan Stanley becoming bank holding companies, the traditional U.S. investment banking model has come to an end. But it bears remembering that investment banks are highly leveraged institutions. Both Goldman…

I named my blog "Credit Writedowns" because I anticipated an historic wave of credit writedowns in the global banking system which would lead to a wave of deleveraging, systemic risk, and bank failures -- in short, a massive financial and…