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Interest rates: the phantom menace

Fri, 20 Nov 2009 16:38:40 +0000

What I think lies behind the surprising deficit squeamishness of the Obama administration, and why it's wrong-headed.

EconLog: Library of Economics and Liberty found this 10 hours ago on krugman.blogs.nytimes.com

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Some Shareholders Want Goldman to Cut Back on 2009 Bonuses

Fri, 20 Nov 2009 09:55:07 +0000

Some of the largest shareholders in Goldman Sachs Group Inc. have urged the Wall Street firm to reduce the size of its bonus pool, arguing that it should pass along more of its blockbuster earnings to investors, according to people familiar with the situation. The investors hold tens of ...

24/7 Wall St. found this 16 hours ago on online.wsj.com

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Dec Gross Anything but 01

Thu, 19 Nov 2009 19:15:00 +0000

I'm not so much concerned about the return on my money as the return of my money. - Will Rogers, 1933 Toothpicked, straw-hatted Will Rogers was a journalists’ dream, combining common sense with a sense of humor that could trump any newsman of his day, an era that was ...

Fund My Mutual Fund found this 31 hours ago on pimco.com

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AmericanObserver: MultimediaFinal

Mon, 16 Nov 2009 15:27:23 +0000

Rolfe Winkler found this 4 days ago on cohort11.americanobserver.net

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Pinker on "What the Dog Saw."

Tue, 17 Nov 2009 17:13:00 +0000

Steven Pinker reviewed my new book "What the Dog Saw," in the New York Times Book Review this past Sunday. I sent the following letter to the editor in response: It is always a pleasure to be reviewed by someone...

Marginal Revolution found this 3 days ago on gladwell.typepad.com

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Chance of Great Depression Now 5%...

Wed, 18 Nov 2009 01:42:00 +0000

For 2 1/4 years now I have been saying that there is no chance of a repeat of the Great Depression or anything like it--that we know what to do and how to do it and will do it if things turn south. I don't think I can say that anymore. In my estimation the chances of another big downward shock ...

Mish's Global Economic Trend Analysis found this 3 days ago on delong.typepad.com

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With F.H.A. Help, Easy Loans in Expensive Areas

Fri, 20 Nov 2009 04:39:00 +0000

From left to right, Jordan Kurland, Mike Rowland and Michael Bedar, in front of the building they bought in San Francisco for nearly a million dollars, with help from the Federal Housing Administration.

Calculated Risk found this 22 hours ago on nytimes.com

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Rep. Alan Grayson Passes Bill to Audit the Fed (video)

Fri, 20 Nov 2009 06:37:00 +0000

Rep. Alan Grayson argues in support of the Paul-Grayson amendment, which would subject the Federal Reserve to a complete audit. The amendment later passed th...

Mish's Global Economic Trend Analysis found this 20 hours ago on youtube.com

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Invisible bond vigilantes

Fri, 20 Nov 2009 06:32:04 +0000

It would be a very, very bad thing if the administration is intimidated into passivity -- or, worse, into neo-Hooverism -- by the threat from invisible, probably imaginary enforcers.

Rolfe Winkler found this 20 hours ago on krugman.blogs.nytimes.com

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The Big Squander

Fri, 20 Nov 2009 07:02:21 +0000

Earlier this week, the inspector general for the Troubled Asset Relief Program, a k a, the bank bailout fund, released his report on the 2008 rescue of the American International Group, the insurer. The gist of the report is that government officials made no serious attempt to extract ...

naked capitalism found this 19 hours ago on nytimes.com

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Felix Salmon: Henry Blodget Should Be Banned From The Industry

Thu, 19 Nov 2009 22:52:00 +0000

Why Employment Might Not Fully Recover Until 2013

Tue, 10 Nov 2009 16:27:05 +0000

The most recent employment report shows the unemployment rate at 10.2 percent, and the broader unemployment rate that accounts for part-time work and discouraged workers at 17.5 percent. With numbers like these, can we expect good news on the employment front anytime soon? Historically, a good ...

Economist's View found this 10 days ago on moneywatch.bnet.com

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Short-term US interest rates turn negative

Fri, 20 Nov 2009 02:30:00 +0000

Published: November 20 2009 01:40 | Last updated: November 20 2009 01:40 Short-term US interest rates turned negative on Thursday as banks frantically stockpiled government securities in order to polish their balance sheets for the end of the year. The development highlighted the continuing ...

Calculated Risk found this 24 hours ago on ft.com

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U.S. Mortgage Delinquencies Reach a Record High

Thu, 19 Nov 2009 19:52:00 +0000

A couple waits to speak to a financial counselor at an event last month in Daly City, California, aimed at helping people get their mortgages restructured to avoid foreclosure.

Between the Hedges found this 31 hours ago on nytimes.com

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Tax the windfall banking bonuses

Fri, 20 Nov 2009 07:02:21 +0000

Windfall taxes are a ghastly idea. They are a sop to prejudice, a burden on risk-taking and a form of arbitrary confiscation. No sensible person should support them. So why do I now find the idea of a windfall tax on banks so appealing? Well, this time, it really does look different. First, all ...

naked capitalism found this 19 hours ago on ft.com

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Goldman apologises for role in crisis

Wed, 18 Nov 2009 04:52:45 +0000

By Francesco Guerrera and Justin Baer in New York and Tom Braithwaite in Washington Published: November 17 2009 21:20 | Last updated: November 18 2009 00:17 Goldman Sachs apologised for its role in the financial crisis on Tuesday and pledged $500m over five years – or about 2.3 per cent of its ...

FT Alphaville found this 2 days ago on ft.com

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Kicked out of finance, and into journalism

Thu, 19 Nov 2009 08:05:11 +0000

Up until yesterday, Michael Whitney was a presenter on Bloomberg TV; he would occasionally get his byline on Bloomberg News stories. Whitney was fined $55,000 last year by the CFTC and is subject to a permanent injunction, after being charged with false reporting and attempting to manipulate ...

FT Alphaville found this 42 hours ago on blogs.reuters.com

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Wells Fargo Needs TARP Money More Than It Admits: Jonathan Weil

Thu, 19 Nov 2009 12:57:59 +0000

Nov. 19 (Bloomberg) -- When it comes to giving the U.S. taxpayers their money back, it’s time for Wells Fargo & Co. to put up or shut up. Ever since Wells accepted its $25 billion of federal bailout assistance last year, its bosses have been complaining that the San Francisco-based bank never ...

UpsideTrader found this 37 hours ago on bloomberg.com

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James Surowiecki: The Debt Economy

Mon, 16 Nov 2009 07:01:46 +0000

John Kenneth Galbraith wrote that all financial crises are the result of “debt that, in one fashion or another, has become dangerously out of scale.” The recent financial crisis was no exception, with everyone—homeowners, private-equity investors, our biggest banks—taking ...

Economist's View found this 4 days ago on newyorker.com

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What Makes a Nation Rich? One Economist's Big Answer

Wed, 18 Nov 2009 12:27:09 +0000

Say you're a world leader and you want your country's economy to prosper. According to this Clark Medal winner from MIT, there's a simple solution: start with free elections.

EconLog: Library of Economics and Liberty found this 2 days ago on esquire.com

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