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Frontrunning: April 13
- China cuts purchases of U.S. and other bonds (NYT)
- Moody's uses First Amendment - when it suits (Telegraph)
- It's time to break up Goldman Sachs (Mish's Global Economic Analysis)
- Krugman: Tea parties forever (NYT)
- Recession hits jobs in health care (WSJ)
- On CNBC Abby Cohen says FV of S&P 500 is 900, in violation of her demoted status (Bloomberg)
- Mexican drug cartels cause autho theft problem along border (WSJ)
- Why the lifeline for life insurers (Fox Business)
- AIG auction to cost taxpayers (WSJ)
- Bloomberg TV: Birinyi says buying stocks now is like "crossing Fifth Avenue when the light is red."
- Fed's flood may leave democracy needing bailout (Bloomberg, hat tip anonymous)
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"Why the lifeline for life insurers"
Remember the '70? Life insurers also do property and casualty and or they re-insure.
When the consumer or business property is upside down, they cannot refi, they lost all of their customers or individual job they become Jewish Lightning rods.
Fed’s Flood May Leave Democracy Needing Bailout: Kevin Hassett
http://tinyurl.com/cfu345
Bloomberg slipped this one out of sight after 4am
"Bloomberg slipped this one out of sight after 4am"
not outta sight in asia.
i saw hassett's commentaries in 2 separate newspapers when i was in HK.
f/w/i/w
The Fed could, in principle, sell some of the assets it has been buying -- but if these assets were liquid, the Fed wouldn’t have been buying them in the first place.
This particular little bit from Hassett is nonsense. The Fed is busy bringing the banking system's insolvency onto its own balance sheet. It won't be able to drain liquidity because it has/will have overpaid for the assets.
This is bound to end well...
Tyler:
You've got an excellent blog running here. You seem to be quite intelligent. Why then do you keep including the idiot Paul Krugman's in reading lists. If that's just for kicks illustrating how worthless Nobel Prizes (at least in Economics)are, I'm with you. Otherwise I think whatever that moron writes is sheer nonsense and garbage.