financial news

You may have noticed that the news cycle has turned down: U.K. manufacturing down, bank stocks down, Chinese inflation and exports down. All of this points to the underlying weakness in the global economy. I should also point out that a…

The Agony Continues - Latvian GDP Falls By 18% - Edward Hugh "Latvia’s economy shrank by nearly a fifth (year on year) in the first quarter, according to the latest flash estimate from the national statistics office. Obviously this is a…

The American Press on Suicide Watch - Frank Rich - NY Times The Next Supreme Court Justice - 538 Bush May Haunt Republicans for Generations - 538 Great graphs on Dem/Repub affiliation by generation. The "Apparent…

Schöner sterben mit dem "SZ-Magazin" " Stefan Niggemeier interessantes Gespräch über den Mangel an deutschen Bloggern, vor allem im akademischen Bereich Wells Fargo Gets $8.6 Billion in Stock Sale, More Than Planned - Bloomberg…

Did Chrysler Secured Lenders Get a Raw Deal? - Yves Smith This is a VERY good synopsis of some of the issues surrounding the Chrysler bankruptcy. Definitely worth the read. RBS Posts Loss on $7.4 Billion Bad Loans, Writedowns -…

YouTube - Pig Slop Processor A friend of mine sent me this link. It has nothing to do with finance, but it was so good I had to post it. WARNING: don't watch this while eating. The Banks and Orwell - Yves Smith This post…

GM details plans to wipe out current shareholders | Reuters General Motors Corp on Tuesday detailed plans to all but wipe out the holdings of remaining shareholders by issuing up to 60 billion new shares in a bid to pay off debt to the…

FT.com - Spanish banks lead the way in risk management Spain's banks are beig praised for risk management, much as Canadian banks are. The Cajas are a different story. "Managers believe that this intense board-level focus on risk is one…

Chrysler's Capitalist Pansies? - Paul Kedrosky Laugh out loud funny post here about the current Sunday-night silliness emanating from certain over-heated quarters over whether the government was or was not mean to investors who…

Interfluidity :: Continuous bankruptcy Suggesting an in-arrears convertible cumulative preferred equity. Cumulative means that if the issuing firm has skipped some dividend payments, the firm is said to be "in arrears", and…