Archive - Blog entry
July 24th, 2009
An Open Letter To The Financial Media
Submitted by 1-2 on 07/24/2009 11:15 -0500It can hardly have escaped your notice that a battle of epic proportions, simmering at the fringes for months, was this very week finally joined. Pursuing what can only be termed a "Möbius strip news cycle" strategy, certain "financial news" programs have taken to throwing those pesky "parasitic" bloggers to the proverbial wolves at every opportunity.
Daily UK and Europe Highlights - 24 July 2009
Submitted by Raymond Shaw on 07/24/2009 04:46 -0500Folks, its Freaky Friday today. Lots of economic data coming out of the cupboard in the Eurozone, mostly PMI and Business Climate numbers. UK's preliminary GDP q/q and services index are out as well today, both quite weak; no green shots here folks. Preliminary printing of the UK GDP figures shows biggest Y/Y fall since the series began in 1955, annualised to -5.6% !
Multiple Choice Trick Question of the Day: Sheila Bair A) Does or B) Doesn’t Believe 500 Banks Will Fail
Submitted by Benjamin N. Dover III on 07/24/2009 00:37 -0500If you answered “C) Both of the above”, not only would you be correct, you'd have the logical reasoning skills required to be a decabox pundit on a respected financial news network.
July 23rd
Red Berries – Brown Shoots
Submitted by Bruce Krasting on 07/23/2009 18:30 -0500Raspberries as an LEI? What's Lord Maynard Keynes got to do with this? Illegal workers don't count? We have how much effective unemployment?
Daily UK and Europe Highlights - 23 July 2009
Submitted by Raymond Shaw on 07/23/2009 03:13 -0500News highlights from UK and Europe. Data cupboard is full today with various retail sales, current account and confidence numbers coming out of the Eurozone area. British mortgage approvals and retail sales data out today as well!
July 22nd
Elizabeth Warren Rip Roaring on CNBC about TARP
Submitted by Raymond Shaw on 07/22/2009 13:15 -0500Must watch clip. Rantings about the Fed and the credit card industry.
Daily UK and Europe Highlights - 22 July 2009
Submitted by Raymond Shaw on 07/22/2009 05:10 -0500Spew of news highlights from the UK and Europe. Lots of things to catch-up on today. GDP forecasts coming out of Eastern Europe, minutes from the Bank of England. I will be covering currencies, German and UK debt market news in the future...
July 21st
An Open Letter to Pension/Endowment Trustees & Investment Committees (PG-13 Version)
Submitted by Anal_yst on 07/21/2009 22:39 -0500Dear Sirs/Madams:
I get it, I really do: You enjoy your secure, mostly laid-back, relatively well-paying job. Insofar as you possess the capacity, experience, and inclination to comprehend the following though, please, enlighten me: Given this fact, don’t you think its in your best interest to get rid of nonsensical, self-defeating policies like the following (from CalPERS)?
"Counterparty creditworthiness, for non-exchange traded Derivatives (Anal_yst: substitute any asset/asset class here), shall be at a minimum of “A3” as defined by Moody’s, “A-” by S&P and “A-“ by Fitch...?"
A Mortgage Report - What's Ginnie Mae Up To?
Submitted by Bruce Krasting on 07/21/2009 18:56 -0500Ginnie Mae is growing fast. Are they going to assume the roll of the bankrupt Fannie Mae and Freddie Mac? Is the 'Shadow System' taking a bank holiday? Are the commercial banks really making new loans?
UK and Europe Highlights - 21 July 2009
Submitted by Raymond Shaw on 07/21/2009 04:28 -0500UK and Europe Highlights - 21 July 2009.
July 20th
Bair 6:1
Submitted by nickbarbon on 07/20/2009 19:08 -0500The FDIC has been making noises for a couple of months about a dry-run of the PPPIP for Legacy Loans, where Uncle Sam will provide half the equity and and up to 6 turns of seller-financed leverage for Public Private Investment Funds to buy whole loans off failed institutions. Well, the first run is here. Peek under the hood...
An Open Letter to Pension, Endowment, and Other Institutional Trustees and Investment Committees
Submitted by Anal_yst on 07/20/2009 18:56 -0500Dear Pension/Endowment/etc Trustees and Investment Committees:
I understand you enjoy your secure, relatively well-paid job, and your forgivable desire to maintain this status-quo for as long as possible. So long as you like your job and want to keep it, don’t you think its in your best interest to get rid of nonsensical, self-defeating policies like the following (from CalPERS)?
Just a Flesh Wound
Submitted by nickbarbon on 07/20/2009 18:41 -0500Advanta Corp., embattled small-business lender and sponsor of the renowned World TeamTennis league (wtt.com), has been winding down its credit card business over the past few weeks, another victim of the failed wholesale funding model. Today the company announced a dramatic increase in charge-offs on it's credit card lending book. The numbers are shockingly bad.
CNBC Horse Manure - The Case for Incentive-Based Pay
Submitted by Raymond Shaw on 07/20/2009 10:56 -0500A comical piece was aired on CNBC this morning, which was similar in composition to horse manure. Take a look at this video right here. Does this guy have any idea what he is talking about?







