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Everyone is using Twitter these days. Econbloggers are getting in the spirit too. I have started to use it. I know Paul Kedrosky uses it. Even Yves Smith is thinking of getting in on it, although her inner luddite holds her back. So…

The details on Obama' new mortgage relief plan are out. The key parts are the following:

Below is an interview with an expert on the issue of mortgage cramdowns. Basically, this issue is all about debt forgiveness for borrowers and writedowns for lenders. Lenders do not like cramdowns for that reason. See below for a view on…

Bezos talks to Charlie Rose about internet retailing, the new Kindle 2, and more.

Banks do not have enough tangible common equity to make the grade on Tim Geithner's stress tests. That means the government will have to step in and bail them out. I will call this creeping nationalization. Paul Miller of FBR Capital…

James Galbraith, a well-known professor at the University of Texas-Austin has joined Paul Krugman in declaring Barack Obama's nearly $800 billion stimulus plan too small. Below is a video from the Wall Street Journal explaining why the…

Yesterday, Latvia was downgraded to junk. Despite its diminutive size, this is a big deal. Fist, it is a harbinger of what is to come for the rest of Eastern Europe. But, more importantly it is a signal that Western European banks…

After 10 years of 7% growth, the Russian economy is set for a serious setback. The video below lays out some of the details.

The Dow Jones and the S&P 500 both closed at levels not seen in nearly twelve years. Despite a 'bailout rally' for the financials in the morning, the day was marked by heavy selling with the Dow down to 714 and the S&P ending the…

Right now I am trying to forget that we are back to 1997 levels on the market. So, I am posting this WSJ clip about the Oscars. Overall, I guessed 4 out of 7 of the big categories right. It was the best show in years with "Slumdog…