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Frontrunning: August 11
- CIT delays report, could have to file for bankruptcy (Reuters)
- In an ironic example of what happens when the government is not running the economy, Ruble falls in longest slump since February on record GDP drop (Bloomberg, h/t Nic)
- Fitch warns Midtown loans face default (Real Deal, h/t Ed)
- SEC investigating Huron for accounting errors (Reuters)
- Double dip recession? (Washington Times)
- Cash for this, cash for that: you name it, they want it (WaPo)
- Excess worker capacity cuts down on Solitaire time (Bloomberg)
- Ferguson: A runaway deficit may soon test Obama's luck (FT)
- Obama to defend health-care plan at town hall after disruptions (Bloomberg)
- Distressed takeovers reach $84 billion (WSJ)
- Failing loans surge in NY's regional banks (Real Deal, h/t ED)
- Deutsche Bank tactics push Bohndorf into spotlight (Bloomberg)
- Chevy Volt to get 230 MPG in city driving (Bloomberg)
- Spitzer: The Wall Street Journal's fraud blindness (Slate)
- July 2009 monthly market review (Value Expectations)
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So it was better that are govt intervened, rather than not.
Tyler,
I think the Ruble story is not a matter of whether the Government is running it or not, they just lack the same amount of financial firepower as the US.
They were intervening in the markets last year but probably gave up as they couldn't keep the facade up. Money better spent drinking Vodka! :-)
Again, the timing of the CIT bankruptcy issue is obviously being timed to perfection. Lots of short term debt maturing in August.
"In an ironic example of what happens when the government is not running the economy, Ruble falls in longest slump since February on record GDP drop "
It's not ironic at all. The difference between Russians and Americans is that Russians don't trust their own currency (and they shouldn't). Americans, for the most part, are naive about currency. In Russia, Jewelery has premium value -- no one wants to hold Rubles. However, here, we have "We Buy Gold" gimmicks everywhere -- take a walk down Wall St. recently? As a monetary phenomenon, Russians perceive Rubles as worthless, Americans think the Dollar is the greatest thing since sliced bread. In time, the Dollar will have the same fate.
17,000 bid on ES at 996.25 !!! PPT.
Washington Times; "our Uncle Sam has been having a hard time because he spends more than he makes." The Moonies have come a long way, baby.
Over the years the WSJ printed loads about the corrupt Hank Greenberg and the crap going on at AIG.
The editorial is out of synch with its prior reporting.
The real AIG problem was that DoJ never broke down the doors at AIG after the prior accounting scandal where they were found to be fraudulently 'smoothing' earning.
AIG should have been executed then...a new company might not have become the counterparty bitch for GS.
http://www.slate.com/id/2224792/
The Volt will be viable until electricity costs escalate because of coal and cap-n-trade, then what will it cost to charge your Volt at home? I really don't see this as being the jewel that everyone believes it is, the basic truth is that we have to drive fewer miles and right now that aint gonna happen.
Personally I'm more inclined to look at diesel technology. I would rather not be subject to energy sources and systems that can barely handle the load already attached let alone lack the capacity to supply electricity to a new wave of plug-in cars. We already know that that there's no way the existing grid could support a large population of plug-ins.
Bloomberg; "at least 100 mpg for the Volt, which will be able to go 40 miles (64 kilometers) on battery power before tapping an onboard gasoline engine for a recharge." Other than this rating seems dubious, some food for thought. Transportation of electrical energy, from rural area power polluters, to urban area "clean" consumers, amounts to exportation of urban pollution to rural breathers. If you want to be true to the cause, you need to generate your electrical supply from a local truely green source, such as solar panels on your roof.
You failed to list that Saturn's rings are going to disappear tonight. We will finally get to see where the dish and the spoon ran off to. CNBC is reporting that this is a sure sign that the economy is turning into a bull market.
The Rich says"
good articles;
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