crisis

Last month, Hank Paulson, the U.S. Treasury Secretary, was waxing prosaically about covered bonds and their benefits to mortgage markets. From his comments, one gets the impression he sees this a potential solution to preventing a future…

Below are the latest writedown stories from the web that I have seen. For the full timeline of news, visit my credit crisis timeline. Bloomberg recently updated their tally of writedowns to arrive at $503.8 Billion to date. That is on…

I have a friend who is a very unusual and cosmopolitan blend. Satoshi is a Japanese guy who grew up in the deep south in New Orleans who I met when we worked together at a German bank in the high yield market in London ten years ago. He…

PIMCO, the brainchild of Bill Gross and now owned by the German insurance giant Allianz, is concerned enough about the bankruptcy of Roskilde Bank in Denmark to have sent the following e-mail out to its clients. I have put important parts…

A year into the crisis, it's time to let banks start to fend for themselves -- or at least let their shareholders do the heavy lifting. That's what the President of the Dutch Central Bank Nout Wellink had to say earlier today. Below is my…

Below are the latest writedown stories from the web that I have seen. For the full timeline of news, visit my credit crisis timeline. Bloomberg recently updated their tally of writedowns to arrive at $503.8 Billion to date. That is on…

Kenneth Rogoff, the Harvard Professor and former IMF Chief Economist shares my view that another large U.S. financial institution will go bust. I predicted this will happen before the end of 2008. He gives no specific date, but he does go…

As you could probably tell -- from all the stories I have been writing about the Baltics, Denmark, Sweden, you name it -- I believe that Europe is the next leg down in the global housing bubble. As such, it will pay to focus as much…

Below are the latest writedown stories from the web that I have seen. For the full timeline of news, visit my credit crisis timeline. Bloomberg recently updated their tally of writedowns to arrive at $501 Billion to date. That is on the…

Yesterday I pointed out that today's global banking crisis has some historical precedents worthy of comparison. In particular, I looked at the Japanese bailout schemes from their housing bubble to see if there was anything there to learn.…