Archive - Mar 28, 2009

Two years ago it was said that you if had a direct line to the CIO of CalPERS, one of the nation's largest public pension funds, and specifically to its Alternative Investment Management group, you had it made. None of that Goldman Sachs partners being masters of the universe garbage - this was the real deal. Say you needed $100 million for fund XYZ - you simply dialed that one number in Sacramento, and if you made it past the secretary, you were golden. Of course, this worked best if your name started with Leon and ended with Black, but other managers were also sitting pretty.

Continuing the trend of disclosing the dirty laundry in Commercial Real Estate, I am presenting some raw data which the general readership should be made aware of before determining how fair (or not) any PIPP, TALF or other plan is to various beneficiaries.

Here is the summary:

As we've noted before, last month's housing numbers are far from being the basis for any bullish assumptions going forward. However some analysts seem to be using it as a springboard on finding other signs of hope; the boys over at Danske Bank have a bullish view and take the housing numbers in a much more positive light.

As we've noted before, last month's housing numbers are far from being the basis for any bullish assumptions going forward. However some analysts seem to be using it as a springboard on finding other signs of hope; the boys over at Danske Bank have a bullish view and take the housing numbers in a much more positive light.

The Office of the Comptroller of the currency is out with their much anticipated quarterly report summarizing all the recent trends and losses (would say profits but not much here lately) in derivative trading at commercial banks.

Here is the report's summary.

• Soros: Britain may have to seek IMF rescue (TimesOnline) [Who is rescuing the IMF?]
• FSA Stress Test shows Barclays does not need more help...