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The drama at Bank of America continues with Ken Lewis testifying before Congress today.  Most of the events surround claims by Lewis that he was coerced into doing the Merrill deal by Hank Paulson and Ben Bernanke.   I…

I am not the only one who sees events in Latvia as a potential catalyst for further downside risk to the reflation trade.  Mary Stokes over at Nouriel Roubini’s site has a very readable post out on why we should be watching events in that…

Yesterday, I argued that allowing banks to repay TARP funds meant a continuation of overcapacity in financial services, which was a direct contributor to the credit crisis through its dampening impact on unlevered returns.  Some of the…

This is an interview in five parts via Morningstar on May 28th with the one-time reputed perma-bear Jeremy Grantham who has been sounding much more bullish of late (in a bear-market rally kind of way). Definitely worth a look. The five…

This case is going to the Supreme Court of the United States.  It will be a landmark ruling when the issue is decided. Take a look at what David Boies has to say about the issue.

The number of persons filing an initial claim for unemployment insurance in the week just ended May 30 declined to 621,000 from 625,000 the prior week.  In addition, the number of persons still receiving unemployment insurance dropped to…

The Institute for Supply Management released its monthly manufacturing index.  The data shows that the manufacturing sector is still contracting with the headline number rising to 42.8 in May, up from 40.1 in April. This number was ahead of…

Charlie Rose's site says of this video clip: A conversation about Bear Sterns and the economic crisis with Kate Kelly, author of "Street Fighters: The Last 72 Hours of Bear Stearns, the Toughest Firm on Wall Street" and William D. Cohan,…

I was on the BBC yesterday talking autos and my commentary was almost entirely political.  So, as we await the likely General Motors bankruptcy, I think it bears discussing how political this process has been and will continue to be.…

GM Bondholders are not happy about the GM deal because the government seems to be running the same scheme where senior bondholders get a serious haircut while other constituents like the union and the federal government get more.  Chrysler…