credit markets: Comments on todays CBO Projections - 03/20/09 03:08 PM
So this afternoon the Congressional Budget Office or CBO released their updated budget projections for the US government and the numbers are both a shocker and a head scratcher. They are now projecting the US gov to run budget deficits, of $1.8 Trillion this year and $1.4 Trillion next year. That … (7 comments)
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credit markets: Fractional reserve banking and FED incompetence - 03/18/09 11:58 PM
Going off the reservation on another financial rant/post today...
The other day I saw this great post explaining Fractional Reserve Banking in really simple terms. It really lays the foundation for why our Federal Reserve and Treasury's policies not just now but over the last decade have helped lead us … (8 comments)
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credit markets: The next big asset bubble - 03/18/09 04:34 PM
We've all seen several prominent asset bubbles and their collapses in the last decade. The collapse of the stock market in 2000 and again in the last year, the ongoing "housing bubble" bursting, a less talked about but no less spectacular recent collapse in the commodities and corporate debt markets. A … (12 comments)
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credit markets: Look At The Dollar Rocket - 10/21/08 11:24 PM
One of my 10 predictions at the start of the year was despite the forecasts of most, was the US dollar was going to strengthen against foreign currencies during the year. Well in the last couple weeks the dollar has been on an absolutely impressive tear against almost every currency in … (16 comments)
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credit markets: Credit Market Update - A False Recovery??? - 10/21/08 12:21 PM
It's now been just over a week since the FED, treasury and central banks around the world made some massive interventions to try and stabilize the credit markets. My prediction is that these interventions would do very little to unlock the credit markets the main issue is trust, not liquidity. I've … (7 comments)
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credit markets: The TRUTH Behind The Credit Market Lockup - 10/15/08 10:47 PM
The truth behind the credit market lockup has nothing to do with liquidity or lack of capital in the system, it is literally about TRUTH itself. Let me list a few examples that illustrate my point.
In March, Bear Stearns' CEO goes on national TV and claims they are well capitalized … (12 comments)
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credit markets: You Call That a Bailout, THIS is a Bailout - 10/13/08 07:00 PM
Boy, it's Monday and there is already a years worth of news to report on the bailouts, credit markets and the global economy. The central banks the world game out of the G7 meetings with a real fire lit underneith them, some might say desperate and have been enacting financial measures … (11 comments)
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credit markets: Credit Market Update For The Week - Bond Market Dislocates - 10/11/08 05:35 PM
Sorry, I didn't get a chance to do updates during the week, things were moving so fast that I barely had the time to keep on top of them myself. Pretty much everybody is fixated on the "crash" in the stock markets with major US indexes plunging about 17% on the … (29 comments)
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credit markets: Thursday Bailout and Credit Market Comments - 10/02/08 12:16 PM
I haven't given an update in a few days since I've been stuck in meetings all day. Here's where we stand with things, after Congress surprisingly rejected the bailout bill in front on them on Monday, Senate took the lead in reintroducing and yesterday voting for a revised bill.
The bill … (12 comments)
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credit markets: Monday Bailout Comments and A Solution - 09/29/08 05:54 PM
I got off my flight down to Los Angeles a few hours ago and was pleased to see that Congress had rejected the bailout bill, woops I mean Financial Stability Act. I would not be surprised though to see it come back from the dead, given the fear today's large stock … (22 comments)
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credit markets: Sunday Bailout Update - Pretty Much a Done Deal - 09/28/08 10:48 PM
The last remaining significant resistance in Congress and the Senate has appears to have crumbled tonight and party leaders announced that they believe that the bailout is a done deal with voting in the house starting tomorrow. At 9:00 EST the Treasury department held a conference call with primary dealers to … (19 comments)
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credit markets: The WaMu Seizure and Capital Market Consequences - 09/28/08 05:01 PM
Outside of the bailout bill currently under debate probably the biggest news last week was the failure of the largest thrift in our nation, Seattle based Washington Mutual. On Thursday, the FDIC took the step of seizing WaMu due to them being vastly under-capitalized. The deposits and some other assets were … (6 comments)
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credit markets: Three More Massive Banks on the Brink - 09/27/08 05:42 PM
Today there are reports coming out of three massive banks currently on the brink of financial meltdowns. The situation at Belgium's Fortis bank with total assets of about $780 Billion appears most dire with Belgium's central bank trying to craft a rescue plan before Monday. Over in England talks to save … (19 comments)
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credit markets: Failure is Important - 09/27/08 12:00 PM
If you can't guess from my previous dozen posts in the last week, I'm referencing what's going on in our financial system right now and the bailout bill. One of my biggest arguments with much of the government intervention in the past year and in particular the bailout in front of … (13 comments)
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credit markets: Monday Market Recap and Bailout Implications - 09/22/08 10:48 PM
I was trying to write a post about the what todays markets (stocks,bonds,commodities) are saying about the proposed $700B bailout and the implications. Alas, sleep deprivation is starting to get to me, and writing coherent sentances just isn't working right now. After not sleeping a whole lot the past four days … (11 comments)
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credit markets: The "No Banker Left Behind Act" of 2008 - 09/20/08 09:23 PM
With the situations in the credit markets becoming increasingly dire on Friday and threatening the systematic collapse of many large financial firms the US Treasury and Federal Reserve held an emergency meeting with Senators and Congressman. According to Senator Dodd, "The Oxygen went out of the room" when after the situation … (18 comments)
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credit markets: Friday Morning Credit Market Update - 09/19/08 09:26 AM
Well I'm down in Vegas now for Real Estate Blog World so not exactly following stuff real time but there's been an amazing amount of action in the last 24 hours so I'll recap it.
RTC Version 2.0
The Federal Reserve and the Treasury are now pushing a plan to setup … (7 comments)
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credit markets: AIG is Nationalized and the Next Big Financial Crisis - 09/17/08 10:01 AM
Late last night the governments hand was finally forced with crisis at the worlds largest insurer AIG, by for all intents and purposes nationalizing the company. The FED made a $85 billion, yes billion with a 'B', loan to AIG and the US government received a 80% equity stake in the … (14 comments)
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credit markets: Mid-day update - It's all About AIG - 09/16/08 12:43 PM
Since for some sick reason I'm glued to my computer screen watching various news feeds come in, and have been talking to buddies in finance all day. I thought I'd give a mid day update on the ongoing crisis unfolding in the markets, though truthfully it's was set in motion years … (28 comments)
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credit markets: The short fuse is now lit on AIG - 09/15/08 07:48 PM
The biggest driver in the market today wasn't the collapse of Lehman Brothers but rather the implosion happening at the worlds largest insurer AIG. AIG's been writing hundreds of billions of credit default swaps like they we're going out of style the last several years and if they go down the … (24 comments)
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