California

Marshall here, as Ed is busy sunning himself in the Bahamas, whilst I am stuck in snowy Denver! It sounds as if JMP Securities has also read the California report that I discussed recently. This is the first outside source that I have…

Yesterday, California Governor Arnold Schwarzenegger wrote U.S. Treasury Secretary Hank Paulson to warn him that California was suffering a liquidity problem and needed federal assistance in order to avoid insolvency. Below is the text of…

It sure seems like California is insolvent. Just today we heard that Arnold Schwarzenegger contacted Hank Paulson to let him know that the State is having liquidity problems (see pdf) and needs help. California ranks as the world's 9th…

Regional banks have not suffered the writedowns suffered by the major banks and investment banks due to their lack of derivatives exposure. But, loose lending standards are starting to bite. The LA Times has an excellent story out, which…

The Mess That Greenspan Made has a blog entry with good visuals giving you a sense of how price appreciation, median prices and housing sales have changed over the past 4-5 years. I recommend it highly.