Archive - Feb 2009

February 2nd

Tyler Durden's picture

Is The Obama Administration Largely Misguided





Is anyone else getting tired of all these headlines about how Obama and his learned senators will only give aid to banks (and bail out the Western financial system) if the latter increase lending to consumers and companies? With all due respect, this is really dumb for two reasons: consumers actually don't want debt (kinda goes against the whole increasing savings concept) and companies actually have easy access to credit.

 

Tyler Durden's picture

Is The Obama Administration Largely Misguided





Is anyone else getting tired of all these headlines about how Obama and his learned senators will only give aid to banks (and bail out the Western financial system) if the latter increase lending to consumers and companies? With all due respect, this is really dumb for two reasons: consumers actually don't want debt (kinda goes against the whole increasing savings concept) and companies actually have easy access to credit.

 

Tyler Durden's picture

Saved By 12 Zeroes; Zimbabwe Gets Creative in Battling Hyperinflation





In what may not be the most effective way to battle hyperinflation, Zimbabwe Central Bank governor (now that is a misnomer) Gideon Gono is making "its foreign exchange more transparent" and cutting 12 zeroes from the currency, i.e. a trillion to one exchange conversion.

 

Tyler Durden's picture

Early Feb 2 Headlines





  • First aggregator bank plan, now Stimulus bill potentially in tatters (FT)
  • Bidding war for future CDS clearinghouse (Bloomberg)
  • Violent anti-government rallies all over Russia (
 

Tyler Durden's picture

Late Sunday Headlines





  • More on Alvarez & Marsal's intrepid raking in of Lehman billable hours (WSJ)
  • Charter Communications to file for bankruptcy any minute (NY Post)
  • South Carolina penitentiary inmate No.
 

February 1st

Tyler Durden's picture

Alvarez Asks For $400,000/Day To Let Lehman Creditors Sort Out Their Own Mess





Restructuring consultancy firm Alvarez & Marsal has decided to take the easy way out, and simply give creditors in the Lehman's bankruptcy equity instead of trying to maximize cash recoveries. The bulk of Lehman's residual value (or lack thereof) is contained in its hard to value real estate and private equity assets.

 

Tyler Durden's picture

Some More Facts About How The CDS Market Will Be Misconceived To Death





When you have the House Agriculture Committee getting involved in the regulation of the CDS market, it is only a matter of time before it is game over. When both conventional wisdom, and economists-turned-philosophers like Soros claim that credit default swaps are responsible for the downfall of western civilization, presenting any type of factual information is pretty much useless.

 
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