• Reggie Middleton
    03/19/2010 - 10:03
    As I warned in my Pan-European Sovereign Debt Crisis series and amid a depression, this Eastern European government has collapsed. Western European countries (and their banks) have material claims within this country, and when combined with pressure from the PIIGS, may be the ones that set off the financial/economic contagion daisy chain. It is difficult to determine who sets it off, which is why it is best to attempt to determine the path of the contagion instead...
  • Leo Kolivakis
    03/19/2010 - 07:34
    A recent joint poll by Responsible-Investor.com, the Network for Sustainable Financial Markets and AQ Research, showed more than 90% of investment professionals believe moral hazard has increased. And yet, global pension funds and wealth funds who manage trillions of dollars have not taken the lead to push for financial reforms. Why do they acquiesce, and not push for meaningful post-crisis reforms?
  • Econophile
    03/19/2010 - 00:48
    The fact that Google will not kowtow to Bejing and will walk away from the market of greatest potential is to me a commendable act. This is a companion piece to my series, "China's Fragile Economy, Its Housing Bubble, and What It Means To Us." China is not a liberal country, by far.

Frontrunning: November 30

Tyler Durden's picture




  • Dubai World's debt not guaranteed by government (Bloomberg)
  • Taxing Wall Street today wins support for Keynes idea of 1936 (Bloomberg)
  • How many FSB chimps does it take to make a Systemic Risk candidates list: where the hell is Citi? (FT)
  • Ferguson: An empire at risk (Newsweek)
  • How Fannie and Freddie sank in the subprime quicksand (IBD)
  • Bernanke starts Fed debate early (WSJ)
  • Wen rails at "unfair" renminbi pressure (FT)
  • Bring on Fed transparency (Forbes)
  • The problems in Dubai (Cumberland)
  • MGM Mirage bets on Citycenter to lower debt as partner teeters (Bloomberg)
  • Cembalest: Obama's business blind spot (Forbes)
  • World's cheapest car Tata Nano goes green (BBC)
  • Krugman begging for more stimulus money (NYT)

 

0
Your rating: None



by MsCreant
on Mon, 11/30/2009 - 09:18
#146136

From Dubai Gov:

“Lenders should bear part of the responsibility.”

There is just so much "wow" here.

On one hand this is what we are dying for our gov to do. On the other hand, most of the lenders are foreign, so, easy for you to say. But then again, wasn't this kind of like investing in swamp land? But then again, they were selling swamp land and not stopping it, even though research exists showing that this kind of thing (sand islands) don't work.

Everyone involved is so Foooaaaked. We are fooooaaaked. What a mess.

 

by JohnKing
on Mon, 11/30/2009 - 09:29
#146149

“Lenders should bear part of the responsibility.”

hehe..that's code for "let Benny put it on HIS balance sheet".

by Careless Whisper
on Mon, 11/30/2009 - 09:35
#146152

It's about time lenders take responsibility. They need to restructure the loans, maybe take an equity position in the real estate. That's the way it worked before bailout nation.

In other news from capitalist nation, Sweden says "we're not in the automobile business". hasta la vista Saab.  And for those of you that have been laughing every time I mention Geely, the Chinese car maker, they are in a deal to buy Volvo and all its technology. GoldSach owns 15% of Geely. Still laughing?

by DaveyJones
on Mon, 11/30/2009 - 10:31
#146206

QUICK! take some equity in that SAND (island)

by Hephasteus
on Mon, 11/30/2009 - 14:50
#146539

How dare you insinuate that Goldman Sachs is pulling a Bowling for Soup on Saab. They would never do that!!

http://www.youtube.com/watch?v=K3LDYIz4iY4

by MinnesotaNice
on Mon, 11/30/2009 - 09:29
#146151

In my opinion Krugman is bought and paid for and can no longer be a reliable source of valid guidance... and it will be a sad day for this country if they pass one more stimulus program that only stimulates road construction... and a 'jobs summit'... give me a break.

by lizzy36
on Mon, 11/30/2009 - 09:39
#146156

It's the beard.  Never trust an economist with a beard.

Oh yes and when he stated on This Week said "deficits don't matter when unemployment is this high".

by MinnesotaNice
on Mon, 11/30/2009 - 15:13
#146583

Agreed Lizzy... and Paul Krugman has no children... so clearly he does not have to worry about his children having to pay back our selfish deficit spending which he advocates.

by MsCreant
on Mon, 11/30/2009 - 09:45
#146159

Sqworl, if you are around.

Niall Ferguson wrote this one on empire! 

http://www.newsweek.com/id/224694

A morning fix:

http://www.thoughtcast.org/uploads/ferguson.jpg

by ghostfaceinvestah
on Mon, 11/30/2009 - 10:56
#146235

You know, I used to like Niall Ferguson.  Until I read his book, The Ascent Of Money, written before the subprime crisis, where he basically argues pure fiat currencies are the greatest invention since sliced bread.

Now he has zero credibility in my books.

by bobby02
on Mon, 11/30/2009 - 10:23
#146198

“Lenders should bear part of the responsibility.”

 Damn straight! It's the lenders fault that the borrower took their money and doesn't want to give it back.

 In a related note, it’s GM’s fault that I bought that beauuuutiful Pontiac Aztec on credit - I shouldn't have to pay the money back and should get to keep the car.

by Anonymous
on Mon, 11/30/2009 - 10:56
#146236

If you bought an Aztec, its the least they could do. I'd push for an apology too.

by Anonymous
on Mon, 11/30/2009 - 10:36
#146211

To be fair
The lenders deserve the assets and the operating costs and maintenance costs.

by ghostfaceinvestah
on Mon, 11/30/2009 - 10:45
#146223

More important news in case you missed it (well, not really news, but a great research paper).

Hopefully the sheeple will get the message that it is OK to walk away from the mortgage.

http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1494467

http://www.mercurynews.com/ci_13880641?source=most_emailed&nclick_check=1

http://blogs.wsj.com/developments/2009/10/30/its-ok-to-walk-away-a-law-p...

 

 

 

 

by lyman alpha blob
on Mon, 11/30/2009 - 11:08
#146243

If anyone would like a chuckle, check out the photoshop my friend created for Lloyd "God's Work" Blankefein.

http://cephaloblog.wordpress.com/2009/11/29/gods-work/

by MsCreant
on Mon, 11/30/2009 - 11:29
#146271

Timmy has such a tiny dinky!

Your friend is talented.

by Anonymous
on Mon, 11/30/2009 - 11:49
#146292

For those of you curious about Krugman....

Spend 5 minutes and read the wiki fact page on Krugman.

This guy is a media tabloid.

Has never had a real job in business.

Is an academic turned journalist seeking Neilson ratings.

Was an advisor to Enron.

Was for low rates to spur housing.

Who the hell in their right mind would want to depend on a guy like this ?

And this guy is being a loudmouth about this and that in areas where he has no hands on experience.

Gee, I think I'll read a book about being a neuro surgeon tonight, and tomorrow I will be one.

Gee Krugman, why do you not save GM for us ?

You have all the answers.

My momma taught me about loud mouths who have all the answers.

They are called clowns.

Krugman is just another CLOWN looking for eyeballs and ears.

Media pay is all about eyeballs and ears, not problem solving.

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