Category Archives: remainders

The End: Michael Lewis on the death of Wall Street. The Hedge Fund Collapse: Jesse Eisinger on the death of the hedge funds. R.I.P. Franklin Bank: Lew Ranieri faces up to the death of his most recent creation.

NBER’s Hall Sees `Conclusive’ Evidence of Recession: "’The evidence is more than compelling,’ Robert Hall, the Stanford University economist who leads the National Bureau of Economic Research’s business cycle dating committee, said in an interview. ‘It’s conclusive, in my personal … Continue reading →

Berkshire Hathaway Profit Falls 77% to $1.06 Billion: Oof. And the reinsurances losses attributable to hurricanes Ike and Gustav, along with some other natural catastrophes, added up to only $186 million. There were much bigger losses attributable to the fact … Continue reading →

CDS, the DTCC and data mining: Putting the CDS market in perspective. ABX and DTCC Data: When the tail wags the dog. Obama’s Choice: On Geithner and Summers. The Mais Lecture on ‘Maintaining stability in a global economy’ given by … Continue reading →

Morally Conflicted About Walking Away? Don’t Be. California is a non-recourse state for a reason; take advantage of it. Fed Economists Duel Over Crisis ‘Myths’ October Pain Was ‘Black Swan’ Gain: How Taleb’s new fund is performing. Convertible Bonds Cause … Continue reading →

A new taxpayer-owned mega-bank: "What the Treasury has dubbed UK Financial Investments Limited will end up as one of the biggest bank holding companies in the entire world." Sovereign debt hit by default fears: An interactive chart. JPMorgan Closing Up … Continue reading →

Itau to Buy Unibanco in $12.5 Billion Agreed Takeover: For anybody like me who’s been following Brazilian banking for years, this is huge. Hedge Funds: The Future: As seen by Paul Wilmott. The Mythology Of Credit Default Swaps Crisis management: … Continue reading →

Iceland, Mired in Debt, Blames Britain for Woes If we only had a financial system: And how the lack thereof caused the present crisis. GM needs bankruptcy, not a bailout ICE to Buy Clearing Corp. as Big Banks Support Plan: … Continue reading →

It’s time: "The Economist does not have a vote, but if it did, it would cast it for Mr Obama. We do so wholeheartedly." The £5,000bn bailout: "£5,000bn has implicitly or explicitly been made available by central banks and governments … Continue reading →

Treasury, FDIC Crafting Plan to Rework Millions of Mortgages: We need a lot more detail than this before working out what to make of it. So how many hedgies did Porsche really kill? Not as many as you might think. … Continue reading →

VW briefly world top company as shortsellers caught: Is Porsche a car company or a market-manipulating hedge fund? Mrs Watanabe and the sudden rise of the yen: "It was common for Japanese retail investors to be offered leverage of 20 … Continue reading →

Greasing the Slide: On vicious cycles in the financial markets. More here. Mark to market for Social Security? Seems reasonable. Paulson Explains Himself: Calling Frank Drebin! Why didn’t Paulson tell Fuld to sell Lehman?

Paulson & Co. Scores Again This Year: His three main funds are up between 15% and 25% this year. FIG vs SHLD vs GS vs GLRE: The hedge-fund plays. If you’re down 40% in the past three months, that’s pretty … Continue reading →

30-year Swaps: Look’s like we’ve got a bad transmittor: More craziness in the fixed-income markets. Chartgame.com: How good are you at technical analysis? Running A Country Can’t Be All That Difficult: Paul Wilmott thinks that butlers and footmen should be … Continue reading →

Fed to Provide Up to $540 Billion to Aid Money Funds: Yet another indication the credit crunch is far from over. Porsche, VW – and hedge funds: Did Porsche engineer a VW short-squeeze? Revisiting the 1932 Economic Yearbook

First Birthday for the Recession? "In all likelihood, this recession either has reached its first birthday or will soon do so." Is A Recession The Best Time To Tackle Climate Change? Stallion Fees Sink as Financial Crisis Hits Thoroughbred Market: … Continue reading →

Money in the street: Very high yields on TIPS; it’s unclear why. Bank-Lending Boost Could Spur Thaw: The first signs of life in the interbank market. Jim Cramer Retreats Along With the Dow: A weirdly sympathetic article by David Carr. … Continue reading →

Those stupid bankers and their stupid stupidity: Dsquared on why blaming people is a little bit silly. Now do something about the interbank market – directly: Willem Buiter on how central banks can bring down Libor. Libor to Decline on … Continue reading →

Treasury Has No Authority to Coerce the Banks Worldwide Financial Crisis Largely Bypasses Canada: Thanks to a worthwhile initiative or two. Requiem for the CPDO Four Magic Words: "We Are Providing Capital" Jokes about the financial crisis: "What’s the capital … Continue reading →

LIBOR Stress could = $730B in damage already Chart of the Day: The Magic Hour: These crazy end-of-day swings are actually a new phenomenon. A Simple Hedge Fund Outflow Model: Last in, first out? Gold darn it: "When Crimnex opened … Continue reading →

Bailouts At a Glance: US vs UK. Candide, or Optimism: Why Paulson’s no hero. Next Victim of Turmoil: Your Salary Now Might Be a Good Time to Take the Social Security Trust Fund Balance Out of Treasuries and Move It … Continue reading →

Taleb vs economists: "What we economists have to learn from Taleb has nothing to do with the nature of risk – we’ve all known that – but about others’ rationality." Related: I told you so: bankers are brainless. Bulls, Bears, … Continue reading →

Honoring Paul Krugman: Ed Glaeser insists his PhD students memorize Krugman’s 1991 model. Barack Obama and Joe Biden: A Rescue Plan for the Middle Class: Lots of detail here. “Unlimited” Dollar Liquidity: "Nothing like ‘unlimited’ dollar liquidity to send Libor … Continue reading →

Are the fiscal pockets deep enough to save the banks? Asks Willem Buiter. Lehman: One Big Derivatives Mess Pakistan, The Land That Financial Bad News Forgot: Part II: The flat-lining of the Karachi stock exchange. Private sector loans, not Fannie … Continue reading →

Cramer Should Be Suspended: "His market call on the Today Show this week for investors to completely liquidate out of the stock market is the most irrational market commentary I have ever heard." Why Gordon Brown Demurs over Deposit Guarantees: … Continue reading →