• Europe's Commercial Real Estate Timebomb?
    Leo Kolivakis
    03/19/2010 - 17:00
    Europe faces a commercial property debt timebomb with almost €1 trillion (£896bn) outstanding from the sector and a quarter of that potentially distressed. The UK accounts for 34% of the €970bn total, with Germany second with 24%. Not to worry, global pension funds are busy snapping up properties but do they really know how long it will be before this crisis blows over? And what if it gets a lot worse before it gets better? Are pensions prepared to deal with those losses?
  • Amid a Depression and Linked Heavily into Western Europe, Latvia's Government Collapses!
    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...

Frontrunning: November 4

Tyler Durden's picture
Submitted by Tyler Durden on 11/04/2009 08:53 -0500



  • ADP says US companies cut estimated 203,000 jobs in October, worse than 198,000 expectation (Bloomberg)
  • Chinese CNOOC buys US oil assets for the first time (BBC)
  • Profit "not Satanic" Barclays says, after Goldman invokes Jesus (Bloomberg)
  • Endless Summers: Cohan on Summers (Vanity Fair)
  • Republicans ride economic woes to wins in two states (Bloomberg)
  • German unions begin walk-outs Thursday after GM decides to hang on to Opel (BBC)
  • PIMCO says Bank of England may slow debt-buying plan (Bloomberg)
  • The coming explosion at Chrysler (Fortune)
  • Improbable China - Part 1 (FX Solutions)
  • Trichet's "black list" fails to deter Weber as ECB exit nears (Bloomberg)
  • Transocean net income falls by a third (MarketWatch)
  • Buffett revisits hunting ground for survivors (Bloomberg)
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by anynonmous
on Wed, 11/04/2009 - 08:59
#119476

Buffett Joins Goldman's Fannie Tax Credit Bid: WSJ

NEW YORK -- People familiar with the plans say investor Warren Buffett's Berkshire Hathaway has teamed with Goldman Sachs in the investment bank's attempt to buy $3 billion of tax credits from taxpayer-owned mortgage firm Fannie Mae , The Wall Street Journal reported on Wednesday. The paper, citing an unnamed investor who had analyzed a similar possible investment, said a deal could produce annualized returns of at least 30% for Berkshire and Goldman. The paper said a Berkshire Hathaway representative did not have an immediate comment on the report, and that Goldman Sachs and Fannie Mae declined to comment. Treasury officials told the paper they are still reviewing the proposal.

I'm sure there is an appropriate analogy that describes what Warren and Lloyd are doing here


by TraderMark
on Wed, 11/04/2009 - 09:00
#119480

Roubini on CNBC this morning

 

We're creating the mother of all carry trades...

 

http://www.fundmymutualfund.com/2009/11/nouriel-roubini-on-cnbc-mother-o...

by lizzy36
on Wed, 11/04/2009 - 09:06
#119486

Tyler, what corporate entity is Cuomo going to announce he is suing @ 11am?

by Art Vandelay
on Wed, 11/04/2009 - 11:41
#119690

[Double post]

by Art Vandelay
on Wed, 11/04/2009 - 11:40
#119691

Am I the only one who noticed (in the "Profits not Satanic" article) that the Goldman spokesman's name is Kafka?

by McGriffen
on Wed, 11/04/2009 - 13:49
#119955

Bankers like Varley, et al, should be cautious about using analogies between bankers and Christianity.  Unless it's the Christianity that condoned a few crusade campaigns to the middle east (or the Inquisition for that matter).

However, if bankers want to give all their wealth to the poor who's gonna stop em ?? Forsaking all that they have to follow heaven...that's gonna happen, right.

by Anonymous
on Wed, 11/04/2009 - 15:01
#120074

Is that meant to be a comment on Existentialism?

by Gilgamesh
on Wed, 11/04/2009 - 12:29
#119769

Tyler, if not already noted elsewhere (from yesterday):

Blackstone steps in to buy stake in Glimcher malls

http://columbus.bizjournals.com/columbus/stories/2009/11/02/daily16.html?ana=yfcpc

 

Guess Simon isn't going to be the only one vulturing (despite what their stock price projects) after all.

by McGriffen
on Wed, 11/04/2009 - 13:44
#119935

good luck with Chrysler, Sergio.  you gonna need it.  maybe Chrysler can introduce another slate of minivans and K-cars ala mid-1980s.

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