foreclosure

Bloomberg is reporting that Obama's transition team is exploring a pre-packaged bankruptcy filing for the US automakers as a solution to the stand-off in Washington. Apparently, Obama has some pretty savvy people in his transition team…

Today's round-up is going to principally be about the three CCC's of Countries, Citigroup and Corporates.  But I also have some tidbits on other topics as well.  So let's jump right in. Yesterday sucked. Markets fell everywhere from…

In July, I made my ten predictions for the markets and global economy for the rest of the year. Some of my predictions were pretty pedestrians, and some were fairly bold. Let's take a look and see how I'm doing.Here's what I originally…

The post-mortems on Fannie and Freddie are flying in. It seems like it is almost non-stop Fannie and Freddie. Let me add to those voices with a bit of a twist: the bailout of Fannie and Freddie was as much a political move as it was a…

At the end of last week, the warning came. The Chinese officially warned Hank Paulson et al. that they better get their act together on Fannie and Freddie. The Chinese own a ton of GSE paper and they would be hopping mad to see their…

Yesterday and overnight, there was a ton of news in Europe, in banking and in geopolitics. So, I am going to alter the format of the round-up slightly and give you a rundown with links mixed in.The long and short is that the banking sector…

From where I sit, today was a complete disaster for U.S. finance. Fannie and Freddie imploded -- their shares quickly approach zero. Lehman admitted it is scared witless and has tried to line up foreign governments to bail it out. States…

Lehman Brothers is obviously desperate to avoid Bear Stearns' fate. The FT is reporting that Lehman held secret talks with foreign investors to sell up to 50% of the company. Previously, I thought one investor might be the Korea…

In further proof that we're back to the Great Depression again, everyone is talking about unsecured bank deposits. Basically, if you have less than $100K at an FDIC institution, you're good to go. If you have more, you'll need to spread…

The day is almost over for the market (thank goodness) and it seems that financal service investors are in panic mode again. The market is down over 250 points and some shares in financial services are down over 15%. What gives?As we may…