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Frontrunning: September 28
- World Bank chief to take shots at the Fed (WSJ)
- Taleb: "Bernanke, Geithner and Summers didn’t see the crisis
coming so why are they still there?" (Bloomberg) - More taxpayer funded bailouts coming up (Bloomberg)
- Andy Xie: When one bubble burst deserves another (Caijing)
- Obama's Too-Big-To-Fail is Too Dumb To Pass (Bloomberg)
- Federal Reserve reverse repurchases (Econbrowser)
- Q&A: Why Michael Moore hates capitalism? (Time)
- The United States and Norway: It is a study in contrats (Brown Brothers Harriman)
- US job seekers exceed openings by record ratio (NYT)
- Merger Mondays are back: Xerox to buy Affiliated Computer (Reuters)
- Irony alert - is the US buying Chinese soverign bonds? (NYT)
- US banks face short-term borrowing rules (FT)
»
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Brian Belski - Can't envisage any significant near term correction!
I guess we should prepare for a crash then. Remember the comments from the 30's.
http://www.quantnet.com/forum/showthread.php?t=5390
Hmmmm
Xie is a great read! I only mildly disagree with one point he made, that a $50 Billion bailout of Lehman would have allowed us to avoid the trillions in bailouts later. Maybe he just chose not to elaborate about his point in this piece, but I think most of us believe that the proverbial can would have only been kicked down the road for another systemic crisis on another day.
Instead of Barry-O getting national airtime for his joke of health care plan speech in front of Congress, a Watergate-type hearing needs to take place, carried by all the MSM, with a small panel of Xie and other like minded economists explaining what happened and why nothing has really changed a year later. I know, it won't happen - there will be snowball fights in Hell before it does. In essence, we are freakin' doomed!!
I think you are misinterpreting Xie's comment about Lehman. He is saying that we have not really stabilized the financial system, we've just papered over the problems, and given that the same thing could have been accomplished for less money by bailing out Lehman.
There's no misinterpretation here. A quadrillion in leveraged derivatives is a quadrillion in leveraged derivatives. I clearly understand what Xie wrote, therefore my exclamation that it was a "great read." He was spot on and I agree with the current condition of the economy, but disagree that a Lehman bailout would have mattered - it would have been papering over the problems too.
Someone from Australia posted last week about how google has dropped your site from their search engine. I tried to use google from my iphone today to get to your site and also noticed your site is no longer an option. It shows the old blogspot site and i had to use that one to get here.
Are they trying to discourage future readers of this site??????
Ps - I just checked the yahoo search engine and that one still brings up your site with the blogspot being the first choice.
Sometimes you have to work for good information. Many days this site crashes my browser saying 'site generated internal errors' and other such BS. Like today. Usually it's Project Mayhem's weekly update. Haven't been able to read it yet. But I will.
Internet Explorer can't handle the truth....
The funny thing is that this was recently done. I have used google every morning from my iphone for months to get here and I find it troubling they would use such tactics. At least the old blogspot is there but how long before that is removed???
Yes, google doesn't give the present .com address.
Bing, from Microsoft, does.
Works for me. It is the third result.
Goldman and Bank of Amerika run the markets along with Geithner, and beagle boy Ben. There is no free markets, only welfare capitalism and socialism for capitalism.
good articles; good articles 4 slow news day ..http://www..
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